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GNI Group
(2160)
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Rating:44Neutral
Price Target:
¥2,593.00
▼(-23.06% Downside)
Action:Reiterated
Date:08/18/26
The score is held down primarily by deteriorating financial performance, including a return to losses and continued negative operating/free cash flow. Technicals are mixed with only modest near-term improvement versus a weaker longer-term trend. Valuation support is limited because earnings are negative and no dividend is available.
Positive Factors
Strong Gross Margin
A gross margin near 75% indicates strong underlying product economics and pricing potential. If sustained, this provides a foundation for restoring operating profitability when revenue growth improves and cost control becomes more effective.
Negative Factors
Return to Significant Losses
The return to sizable operating and net losses shows that strong gross margins are not currently converting into sustainable earnings. Continued losses can restrict internal investment capacity and make future performance highly dependent on operational recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Gross Margin
A gross margin near 75% indicates strong underlying product economics and pricing potential. If sustained, this provides a foundation for restoring operating profitability when revenue growth improves and cost control becomes more effective.
Read all positive factors
GNI Group (2160) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥181.71B
Dividend YieldN/A
Average Volume (3M)969.16K
Price to Earnings (P/E)―
Beta (1Y)1.32
Revenue Growth9.92%
EPS Growth-3255.60%
CountryJP
Employees990
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-102.58
Shares Outstanding65,828,230
10 Day Avg. Volume1,104,200
30 Day Avg. Volume969,156
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)2.52
Price to Sales (P/S)4.71
P/FCF Ratio-46.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,800.00Price Target Upside12.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)15.29
Revenue Forecast (FY)¥40.18B
GNI Group Business Overview & Revenue Model
GNI Group Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.52B | 26.84B | 23.61B | 26.01B | 17.42B | 12.69B |
| Gross Profit | 19.79B | 19.99B | 18.04B | 22.43B | 14.74B | 11.09B |
| EBITDA | -347.76M | -1.76B | 2.67B | 14.47B | 2.16B | 2.14B |
| Net Income | -5.49B | -4.41B | 1.10B | 8.09B | 388.83M | 1.07B |
Balance Sheet | ||||||
| Total Assets | 81.76B | 83.79B | 71.94B | 64.27B | 33.91B | 30.30B |
| Cash, Cash Equivalents and Short-Term Investments | 17.16B | 21.10B | 12.93B | 23.15B | 11.24B | 14.35B |
| Total Debt | 5.07B | 5.37B | 22.66B | 18.84B | 537.36M | 1.13B |
| Total Liabilities | 15.26B | 32.11B | 32.07B | 27.72B | 14.10B | 11.03B |
| Stockholders Equity | 40.44B | 50.15B | 36.45B | 33.79B | 20.97B | 18.86B |
Cash Flow | ||||||
| Free Cash Flow | -3.39B | -2.74B | -3.69B | 5.28B | -580.20M | 172.78M |
| Operating Cash Flow | -3.08B | -2.41B | -3.16B | 6.55B | 393.32M | 552.27M |
| Investing Cash Flow | -3.69B | 2.73B | -12.89B | -3.33B | -4.12B | 2.24B |
| Financing Cash Flow | 12.15B | 10.47B | 3.22B | 7.17B | -646.33M | 357.06M |
GNI Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | ¥35.25B | -78.23 | ― | ― | 3.43% | -53.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | ¥103.36B | -12.85 | -15.58% | ― | 7.12% | -137.21% | |
48 Neutral | ¥143.91B | -39.40 | -6.88% | ― | 0.62% | 27.66% | |
48 Neutral | ¥77.90B | -24.01 | -44.85% | ― | ― | 31.36% | |
44 Neutral | ¥181.71B | -27.98 | -12.96% | ― | 9.92% | -3255.60% |
* Healthcare Sector Average
JP:2160
GNI Group
2,870.00
213.00
8.02%
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206.00
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GNI Group Corporate Events
GNI Group Maps Out ‘Second Founding Phase’ in Q2 FY2026 Results
Aug 18, 2026
GNI Group Ltd., listed on the Tokyo Stock Exchange under code 2160, is a pharmaceutical and life sciences company focusing on pain, rheumatism, and related therapeutic areas. It is growing through acquisitions, notably involving AYUMI Pharmaceutic...
GNI Group Lifts 2026 Revenue Outlook After AYUMI Deal, Holds Back Profit Guidance
Aug 14, 2026
GNI Group Ltd., a biopharmaceutical company listed on the TSE Growth market, develops therapies for liver disease and pain, anchored by its F351 liver fibrosis program. The recent consolidation of AYUMI Pharmaceutical strengthens its specialty pha...
GNI Group Narrows Losses in Q2 but Limits FY2026 Guidance to Revenue Amid Drug Investment Uncertainty
Aug 14, 2026
GNI Group reported Q2 FY2026 year-to-date revenue of ¥11,937 million, down 2.6% from a year earlier, while narrowing operating losses and posting a comprehensive income of ¥2,032 million despite a profit attributable to owners of the par...
GNI Group Makes AYUMI a Wholly Owned Unit and Raises ¥26.8 Billion via Share Issuance
Jul 1, 2026
GNI Group has completed the acquisition of all shares of AYUMI Pharmaceutical Holdings, turning the Tokyo-based manager of anti-rheumatic and antipyretic analgesic drug businesses into a wholly owned subsidiary. The company has invested about JPY ...
GNI Sets July 1 Payment Date for Share Issue Funding AYUMI Acquisition
Jun 26, 2026
GNI Group has finalized key conditions in its previously announced plan to acquire all shares of AYUMI Pharmaceutical Holdings and convert it into a wholly owned subsidiary. The company will issue 9,974,291 new common shares via third-party allotm...
GNI Group Secures ¥20 Billion Covenant-Linked Loan for Ayumi Acquisition
Jun 26, 2026
GNI Group Ltd. has approved a new loan agreement with Mizuho Bank and SBI Shinsei Bank to secure ¥20 billion in short-term financing, primarily to fund the acquisition of Ayumi Pharmaceutical Holdings KK and related transaction expenses. The ...
GNI’s Gyre Therapeutics files Form S-3 tied to Cullgen acquisition
Jun 23, 2026
GNI Group has announced that its U.S. subsidiary Gyre Therapeutics has filed a Form S-3 registration statement with the SEC tied to its planned acquisition of Cullgen Inc. as a wholly owned subsidiary. The registration covers Gyre common shares to...
GNI Group Announces Transformational Acquisition of Ayumi Pharmaceutical Holdings
Jun 5, 2026
GNI Group Ltd. has announced a transformational acquisition of Ayumi Pharmaceutical Holdings, signaling a strategic move to expand its presence in the pharmaceutical industry. The deal is framed as a significant step in enhancing GNI’s portf...
GNI Group to Buy AYUMI Pharmaceutical Holdings and Issue New Shares to Bolster Japan Platform
Jun 5, 2026
GNI Group has agreed to acquire all shares of AYUMI Pharmaceutical Holdings KK, a Japan-based holding company with a strong sales network to medical institutions and a robust earnings base anchored by Calonal and other high-share products in ortho...
GNI Group to Gain New Largest Shareholder via AYUMI Pharma Deal
Jun 5, 2026
GNI Group has announced that BCP Asia AYM Holding (Cayman) L.P., an investment vehicle ultimately linked to Blackstone-managed private equity funds, is expected to become its new largest major shareholder. This shift will occur through a third-par...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.