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Japan/China biopharma developer of fibrosis treatments, with a Phase III liver-fibrosis drug via Chinese subsidiary Beijing Continent.
Japan/China biopharma developer of fibrosis treatments, with a Phase III liver-fibrosis drug via Chinese subsidiary Beijing Continent.
Earns mostly from selling Etuary, its pirfenidone drug for lung fibrosis, in China, with those sales funding development of F351, its liver-fibrosis candidate in late-stage trials. Most operations and revenue sit in China through its subsidiary, though the parent is listed in Japan.
In one line: A Japan-listed biotech with its main pipeline running through a Chinese subsidiary.
Moat: narrow (IP / patents, regulatory licence). Late-stage fibrosis drug candidates and a China-approved subsidiary give a scarce pipeline position.
Headquarters: Tokyo, Japan · Founded: 1990 · Employees: 990
Size GNI (2160.T) is a Japan Health Care company (Biotechnology) with a market value of $866M, the 797th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,073 on 6 Nov 2026.
Performance Over six months the shares fell 29.0%, against -15.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th lowest of 19 in its peer set.
Growth Revenue grew 9.9% over the last twelve months (peer median -1.8%); the operating margin is -24.3% (peer median -28.8%).
Valuation It trades at 135.6× forward earnings against a peer median of 23.6× (most expensive of 6).
Capital Return on invested capital runs 20.3 points below its cost of capital (14.0% WACC).
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥26.5B | ¥26.8B | ¥23.6B | ¥26.0B | ¥17.4B |
| Revenue growth | — | +14% | -9% | +49% | — |
| Gross profit | ¥19.8B | ¥20.0B | ¥18.0B | ¥22.4B | ¥14.7B |
| EBITDA | -¥5.22B | -¥1.16B | ¥437M | ¥5.19B | ¥1.76B |
| Net income | -¥5.32B | -¥4.24B | ¥1.10B | ¥8.09B | ¥389M |
| Free cash flow | -¥3.39B | -¥2.74B | -¥3.69B | ¥5.28B | -¥580M |
| Capital expenditure | ¥3.15B | ¥1.56B | ¥1.54B | ¥2.08B | ¥1.94B |
| Total debt | ¥5.07B | ¥22.2B | ¥22.7B | ¥18.8B | ¥10.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| GNI 2160.T | $866M | -29% | +10% | -24% | 135.6× | n/a |
| HUTCHMED (China) Limited Sponsored ADR HCM | $2.65B | +15% | -9% | -6% | 29.7× | 38.3% |
| Shionogi & 4507.T | $16.6B | -6% | +46% | 29% | 10.9× | -0.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2160.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.0% | -5.6% | 2nd lowest of 21 |
| 6-month return | -29.0% | -15.3% | 6th lowest of 19 |
| Distance from 52-week high | -44.6% | -41.7% | 9th lowest of 21 |
| Revenue growth (TTM) | +9.9% | -1.8% | 5th highest of 17 |
| Operating margin | -24.3% | -28.8% | 8th highest of 18 |
| Forward P/E | 135.6× | 23.6× | most expensive of 6 |
| ROIC minus cost of capital | -20.3 pp | -12.3 pp | 5th lowest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GNI 2160.T | Japan | $866M | -29% | +10% | -24% | 135.6× | n/a | n/a |
| MeiraGTx MGTX | United States | $864M | -8% | +948% | 46% | n/a | -9.9% | +39.2% |
| Syndax Pharmaceuticals SNDX | United States | $859M | -56% | +160% | -62% | n/a | n/a | n/a |
| Peptidream 4587.T | Japan | $856M | -10% | +1% | -25% | 20.0× | n/a | n/a |
| Prime Medicine PRME | United States | $843M | +45% | -18% | -4,825% | n/a | n/a | n/a |
| Oxford BioMedica OXB.L | United Kingdom | $892M | -14% | +16% | -18% | n/a | n/a | n/a |
| Monte Rosa Therapeutics GLUE | United States | $902M | -45% | -84% | -633% | n/a | n/a | n/a |
| Inventiva IVA.PA | France | $912M | -29% | -100% | -307,063% | n/a | n/a | n/a |
| Wuhan Keqian Biology 688526.SS | China | $814M | -19% | -22% | 20% | 16.6× | 8.8% | +2.4% |
| Odyssey Therapeutics ODTX | United States | $924M | n/a | -33% | -5,415% | n/a | n/a | n/a |
| Nanjing Leads Biolabs 9887.HK | Hong Kong | $927M | -54% | n/a | -108% | n/a | n/a | n/a |
| R&G PharmaStudies 301333.SZ | China | $803M | -12% | +21% | 11% | 38.4× | 20.1% | +11.8% |
| Anhui Wanbang Pharmaceutical Technology 301520.SZ | China | $803M | +91% | -15% | -8% | n/a | 48.8% | +14.7% |
| Beijing SL Pharmaceutical 002038.SZ | China | $793M | -21% | -4% | -119% | n/a | -12.3% | -10.9% |
| Jade Biosciences JBIO | United States | $958M | -42% | n/a | n/a | n/a | n/a | n/a |
| China Animal Husbandry Industry 600195.SS | China | $960M | -17% | +1% | 2% | 35.8× | 6.6% | +4.4% |
| Alphamab Oncology 9966.HK | Hong Kong | $777M | -39% | -32% | -38% | n/a | n/a | n/a |
| Shaanxi Micot Pharmaceutical Technology 2335.HK | Hong Kong | $777M | n/a | n/a | n/a | n/a | n/a | n/a |
| Alto Neuroscience ANRO | United States | $987M | +4% | n/a | n/a | n/a | n/a | n/a |
| Chengdu Kanghua Biological Products Co. Td Class 1 300841.SZ | China | $995M | -11% | 0% | 22% | 23.6× | 11.1% | +2.3% |
| Changchun BCHT Biotechnology 688276.SS | China | $1.00B | -11% | +2% | -29% | n/a | n/a | n/a |