MEDICAL SYSTEM NETWORK Co., Ltd.
Fiscal Year Ending March 2023

Earnings Report
Prim Market of Tokyo Stock Exchange ; Securities Code: 4350

1

About contents covered* The contents of this report pertaining future earnings described are based on information
the company has held, and on certain assumptions supervising rational judgement, andare not what the company promises to achieve. There are numerous factors that may
cause actual earnings to differ. Caution is given to the accuracy of information, and we donot take responsibility for loss etc., as a result of misinformed information.

* Furthermore, this report is not prepared for the purposes of investment solicitation.

Readers are responsible for their own judgement in any decision regarding investments.

Please see the following link for our English information.

https://www.msnw.co.jp/eng/

2

FY3/2023 : Topics and Business Overview‐ vs Forecast ‐Figures in parentheses indicate changes from the end of the previous FY● Net sales came in just below our Forecast(-0.4% compared to plan)● Profits were not achieved (operating profit -9.6% compared to plan)
・ No of prescriptions and new affiliates of the pharmaceutical network
were generally in line with the forecast.
・ Profits were not achieved due to inflationary pressures, mainly aroundan allowance for all employees(202M), higher repair costs at Wisteria,
and higher utility costs due to higher energy costs‐ YoY change ‐＜ Community Pharmacy Network Segment ＞
Community Pharmacy

428 pharmacies（+3）

Prescription Unit price(All pharmacies)

10,236 yen（-175 yen）*

No. of prescriptions (All pharmacies)

9,088K （+3.9%）*No. of prescriptions (Existing pharmacies)

8,613K （+1.5%）** YoY~ Our 3 Pharmacy Support Businesses ~Pharmaceutical Network Business● Net sales increased (+2.7% YoY)
・ Both of newly opened community pharmacies and pharmacies acquired
through M&A contributed✔ Dispensing fees for all pharmacies +2.2% (YoY)
・ No. of new affiliates of the pharmaceutical network increased to a recordhigh✔ Pharmaceutical wholesalers supported our efforts to improve
distribution● Profit decreased (Operating Profit -17.9% YoY )•No. of affiliates

8,912 affiliates （+1,511）

Manufacture and Market Pharmaceuticals Business•No. of ingredients

45 ingredients（+4）•

No. of products

93 products（+9）•

No. of affiliates

2,161 affiliates（+463）

Digital Shift Business•

User registrations

640K（+330K）•

Installed pharmacies

3,391 pharmacies（+2,480)•

Order received pharmacies

3,787 pharmacies（+2,144）

・ Increase in costs related to the strengthening of interpersonal work at
Community pharmacies and NHI price & dispensing fee revisions
・ Increase in labor costs in Leasing and Facility related Businesses tostrengthen sales and marketing, and increase in utilities and otherexpenses＜ Leasing and Facility related Segment ＞
Wisteria•

Occupancy rate of all 5 facilities

80.4%（-2.9%）

3

Table of Contents

Earnings Highlight・・・

5

Business Summary

・・・

14

Core strategies, Earnings Forecast for
FY3/2024

・・・

27

・・・

38

Reference Materials

41
Earnings
Highlight

5

FY3/2023 : Consolidated Results*1 EBITDA is the calculated value of “operating profit + depreciation + amortization of goodwill”*2 Includes 421 million yen in subsidy income for countermeasures against COVID-19*3 Includes gain on sales of investment securities and tax effect of absorption-type merger of Himawari Nursing Station Co., Ltd totaling 272 million yen*4 Includes inflation allowance paid 202M

6

FY3/2023－Core Strategies
Core Strategies andResults

Numerical Targets■
Community
Pharmacy
Business

Community
Pharmacy
Network
Segment

Pharmaceuti
cals Network
Business*

Manufactureand Market
Pharmaceuti
calsBusiness** 3 Pharmacy Support Businesses■

Number of prescriptions
Existing stores YoY +1.5%
All pharmacies YoY +3.9%■

Acquisition of prescriptions using on-line(LINE, prescription transmission) tools■

Development of 15 pharmacies, mainly in
medical malls■

8 new pharmacies opened, 2 M&A■

8,900 affiliates at the end of March 2023(+1,499 YoY)■

8,912 affiliates■

Promote distribution improvement
initiatives such as once-a-day
delivery■

Launched new services such as
consultation for home healthcare
support and an online community foraffiliates called "Shaberiba”■

Sales to affiliates: 2,161■

Sales to non-affiliated: 1,148 (+596)■

Installed 3,391 / Orders received
3,787

■

640 K users registered■

Building a system to reach 12,000
affiliates longer term■

Further promotion of streamlined
distribution■

Expansion of services for affiliates■

Expand clientele, primarily amongst ourpharmaceutical network affiliates→ Target affiliate 2,700 at the end of
March 2023 (+1,002 YoY）■
Digital ShiftBusiness*Strengthening interpersonal work andprovide quality drug treatment

Expansion of pharmacies with official
LINE accounts→ Installed 3,400(+2,489 YoY) / Target
Order received 4,400 (+2,757 YoY) at theend of March 2023

Eval
uati
on

△

〇

△

〇
7

FY3/2023－Core Strategies
Core Strategies andResults

Numerical Targets

Leasing and Facility
related Segment

Meal Catering Segment,
Home Visit Nursing
Segment■

Achieve 90% occupancy ; steady
operation■

Safety-first operation■

Steady balance of payments■

Occupancy rate of all 5 buildings: 80.4%■

New occupancy growth slow due to
COVID-19■

Labor cost increase due to increase insales force, etc.

■

Increased utilities costs due to higher
energy costs■

Decrease in the number of meals served
due to COVID-19■

Gross profit declined due to higher
purchase prices

Eval
uati
on

×

×

■ Strong due process for selection of
investments

Finance, ESG and HealthManagement■

Securing profits through cost control■

Projects according to SDGs;
promote CSR activities■■

Certified as an Excellent Corporation for
Health Management 2023 (Large
Company Division)△

Government certified as a Sports Driven
Company 2023

8

FY3/2023 : Results by Segment(Unit:million yen)

(Unit:million yen)
Profit margin in brackets*1 Community Pharmacy Business, Pharmaceutical Network Business, Manufacture and Market Pharmaceuticals Business, and Digital Shift Business*2 Leasing and Facility related Segment, Meal Catering Segment, Home Visit Nursing Segment9FY3/2023 : Comparison to Forecast■ Operating profit■ Net sales(Unit: million yen)

(Unit: million yen)10

FY3/2023 : Comparison to previous FY■ Operating profit■ Net sales(Unit: million yen)

(Unit: million yen)11

FY3/2023 : Consolidated Balance Sheet*1 Includes long-term loans that will be repaid within the year
*2 Own capital / (Total assets – Cash and deposits)

12

FY3/2023 : Consolidated Cash Flows
EBITDA*
Income taxes paid
Changes in working capital

6,122 million yen(1,294) million yen(671) million yen* Calculated by “operating profit + depreciation + amortization of goodwill”

Opening of new pharmacies
Existing pharmacies renovation costs, etc.

Loan amount reduced(867) million yen(644) million yen(2,869) million yen

13

2
Business
Summary

14

Community Pharmacy Business：
Trends in No. of Pharmacies
10 new outlets (2 from acquisition) and 7 outlet closures/transfer since the end of previous FY
ポイント〔Located near medical institutions〕〔Medical Mall〕〔Medical Mall〕

Hokkaido area

122
outlets〔Nanohana Pharmacy
Abashiri Shiomi〕〔Medical Mall〕〔Nanohana Pharmacy
Minami Ibaraki Ekimae〕〔Nanohana Pharmacy
Asahikawa Nagayama〕〔Medical Mall〕

Tokai/Hokuriku
44
outlets

Chugoku/Shikoku

21
outlets

24
outlets〔Medical Mall〕〔Nanohana Pharmacy
Toranomon〕

Kanto/Koshinetsu
101
outlets

Kyushu〔Nanohana Pharmacy
Awaza〕

Tohoku area

Kinki

63
outlets

53
outlets※■ Community pharmacy outlet no. trends of the past 10 years〔Nanohana Pharmacy
Sagamihara Hoshigaoka〕
As of March 31, 2023

15

Community Pharmacy Business :Monthly Dispensing Fee（YoY)

2nd half total
all pharmacies +2.5%
existing pharmacies +0.7％

1st half total
all pharmacies +1.5%
existing pharmacies +0.1％

1st half total
all pharmacie +3.7%
existing pharmacies +2.6％

2021

2nd half total
all pharmacies +2.8%
existing pharmacies +0.4％

2022

2023

• Existing pharmacies definition: Pharmacies that have been continuously open since April 1, 2020 for the previous fiscal year and since April 1,
2021 for the current fiscal year

16

Community Pharmacy Business :Monthly Prescription Volume and Unit Price of Existing Pharmacies（YoY)
Despite an increase in the no. of prescriptions, the unit price of prescriptions declined due to the impact of therevision of dispensing fees

2nd half total
Unit price +0.2%
No. of prescription +0.5％

1st half total
Unit price +1.2%
No. of prescription +1.3％

1st half total
Unit price +3.2%
No. of prescription +5.9％

2021

2nd half total
Unit price +1.4%
No. of prescription +1.8％

2022

2023

17

Community Pharmacy Business : Dispensing Fee Breakdown*Dispensing fees are calculated based on the number of prescriptions x unit price of prescriptions

18

Community Pharmacy Business : Dispensing Fee Revision
In line with full-year targets, we continue to focus on interpersonal operations*1：pt = points.
*2：* = No. of pharmacies

19

Community Pharmacy Business :Becoming a Community Pharmacy of Choice by Enhancing the Family Care Function■ Enhancement of in-house education system in order to improve the quality of pharmacy care・ No. of certified/specialist pharmacists increased steadily in the second year ofthe "CP Step" education system(8 pharmacists specializing in outpatient cancer treatment, 5 heart failure treatment
advisors, etc)
・ We are doing this through activities such as clinical certification training at Nanohana
Academy and Nanohana Forum, as well as promoting attendance at academic conferences
nurturing pharmacists who can play an active role in clinical practice・ CP Step system Step 3 (Nanohana Standard) or above, with a target of 50%

Step3
Pharmacists who can incorporate
new information on a daily basis
and practice in the community as
well as clinically■ Positive Impact of Promoting Home Healthcare Support
・ Due to an increase in the no. of Home Healthcare Support, the no. ofcases of additional calculation for Home Healthcare Support was up 5.5% fromthe previous year.
Contributed to an increase in the no. of pharmacies calculating the additional
items under point 3 and 4 of Community support system premium・ First in the Medical System Network Group
Obtained certification as "home palliative care pharmacies" *(2 pharmacies)(Nanohana Pharmacy Noborito, Sakura Pharmacy Kurume University
Hospital Mae ) Approved on April 1, 2023
* "Insurance pharmacies where pharmacists who are recognized as having a certain level ofknowledge, skill, and practical ability in pharmacotherapy required for palliative care, areengaged in palliative care, and meet specific functional requirements required for the
implementation of care at home."〔Nanohana Pharmacy Noborito〕+5.5 YoY〔Sakura Pharmacy Kurume
University Hospital Mae〕

20

Pharmaceuticals Network Business:
Performance Summary (as of March 31, 2023)
The no. of net increased affiliates reached a record high of 1,511, due to support frompharmaceutical wholesalers for the distribution improvements we are promoting

21

Pharmaceuticals Network Business :Network Affiliates Distribution Map (as of March 31, 2023)

9,042 network affiliates
as of April 30, 2023
22

Pharmaceuticals Network Business :Initiatives to Improve Pharmaceutical Distribution
・ From June 2022, our Nanohana Pharmacies started "regular automatic ordering, once-a-day delivery,
andポイント
no Saturday delivery" initiatives
・ Expanding the initiative with the aim of implementing it in all Nanohana Pharmacies by the end of
September 2023
・ In-house developed inventory
management system”LINCLE” calculates
appropriate order quantities
Nanohana
Pharmacy

pharmacy

Pharmaceuticalwholesaler

Environmental
conservation

・ Automated order placement once a day
on a fixed time schedule

Benefits and Effects： Automated ordering streamlines inventory
operations
Allow time for interpersonal work
： Reduction of shipping and delivery costs
Reduction of nighttime picking
Reduction of urgent deliveries： Reduction of CO₂ emissions

・Delivery is made once a day on weekdays
・Delivery at a time agreed upon between the
Pharmaceutical pharmacy and the wholesaler
wholesaler■ Results from Distribution Improvement Efforts
・As of end of April, 2023, the program is being
implemented in 40 pharmacies nationwide
・Once-a-day delivery and automatic timed ordering are
realized・Zero Saturday deliveries・Initially, the initiative was undertaken by a single wholesaler→ Initiatives were undertaken with all trading wholesalers■ Future developments
・Started at all Nanohana Pharmacies
・Optimize inventory management systems
・Conducting trials with general affiliates

23Digital Shift Business : Exceeded 640K User Registrations
Official LINE Account・649K users registered, 3,391 installed pharmacies , and 3,787 pharmacies received orders
・Steady increase in the no. of users and the no. of installed pharmacies. We are expecting to reach1 million users and 5,000 pharmacies, respectively, in FY3/2024■ Major Functional Updates■ No. of users registrations andinstalled pharmacies

649K users

introduction
3,391
pharmacies■ Usage (single month)

Prescription
transmission
76K pieces（1）Electronic prescription support：Send an image of the prescription details (copy) and contact
the pharmacy for an exchange number（2）Screen sharing functionality during online medication instruction：Drug information sheets, inhaler usage instructions and manuals, etc.
are displayed for easy understanding of drug administration andmedication instruction（3）Display medication information in electronic medication registers：On both pharmacy and patient*Image of drug information
screens display images and indications
listing for pharmaciesof medications

Message
60K pieces
Use of online
medication guidance isalso increasing

In addition to the above, we are preparing to link with
Mynaportal in order to comply with the revisedElectronic Medication Record Book guidelines

24

Manufacture and Market Pharmaceuticals Business

As of March 31, 2023

Impacted by shipment adjustments by somemanufacturers, both no. of affiliates handling the
product and sales fell short of the plan

Available products (ingredients) :93 products (44 ingredients)（8 products (3 ingredients) addedfrom the end of the previous FY）
Sales to general network affiliates :2,161 affiliates（Target at end of March 2023: 2,700
affiliates）*Excluding Nanohana pharmacies
2.6 billion yen
1.8 billion yen

Other transaction pharmacies 1,148（Increase of 596 from the end of FY 3/2022)

1.1 billion yen
400 million yen
369 affiliates

1,116
affiliates

1,698
affiliates

2,161
affiliates25

Leasing and Facility related Segment
Wisteria Occupancy Rate Trends
New occupancy growth slow due to COVID-19

All 5 buildings occupied：80.4％(End of FY 3/2023 target：
90% occupancy rate)26

3Core strategies,
Earnings
Forecast for
FY3/202427

FY3/2024: Core Strategies
Sixth Medium-Term Management Plan（FY3/2023～FY3/2026） 2nd year
Maintain profitability through "quick response" to changes in the business environment and thorough "costreduction
Aggressive investment to accelerate collaboration among businesses and create a new growth model
Community Pharmacy
Business■ Profits to bottom out in FY3/2024 and turn around・Reinforcement of the system for acquiring additional interpersonal services fee
・Maintain medium- to long-term growth potential by development of new pharmacies,
mainly in medical malls

3 Pharmacy Support
Businesses** Pharmaceuticals Network
Business
Manufacture and Market
Pharmaceuticals Business
Digital Shift BusinessLeasing and Facility
related Segment
Meal Catering Segment■ Accelerate inter-business collaboration to expand transaction outlets
・With mutual introduction topharmacies, expanding 3 businesses
in unison.
・Maintain a high level of no. of new
affiliates in Pharmaceutical Network ,and as a result, reaching 10,000
affiliates

End of FY3/2024

End of FY3/2024
5,000 pharmacies（＋1,263 pharmacies）

10,400 affiliates（＋1,488 affiliates ）■ With fading out of COVID-19, return toaffiliates

normal operations and raising the Net sales

Nursing Segment

Investment and Financial
Strategies■ IT investment in building area collaboration
・Review of core system of pharmaceutical network, etc.
・Secure profit through cost control and accumulate capitalEnd of FY3/2024
5,300 pharmacies（＋1,909 pharmacies）

28

FY3/2024: Core Strategies－Community Pharmacy Business【No.of new prescriptions using LINE】（accumulation）■ Acquisition of prescriptions using on-line (LINE,
prescription transmission) tools
・ Acquisition of new prescriptions
・ No. of prescriptions at existing pharmacies YoY +1.9％

薬局で作成中
15% increase over the
first month of the FY■ Obtaining additional fee by strengthening
interpersonal services and providing high quality drug
treatment
・ Focus on additional fee related to point 3 and 4 ofcommunity support system
・ Promotion of home medical care and family pharmacists
・ Continuing education to improve pharmacy care

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【Target Number of new pharmacies】■ Development 15 pharmacies, mainly in medical malls
・ Maintain medium- to long-term growth potential bydevelopment of new pharmacies, mainly in medical malls

1st yearTarget 15
pharmacies

2nd yearTarget 15
pharmacies

3rd & 4th year
Target 25
pharmacies■ Appropriate cost control
・ Increase in Productivity
FY22/3

FY23/3

FY24/3

FY25/3

FY26/329

FY3/2024: Core Strategies－Pharmaceuticals Network Business【No. of affiliates】■ Target no. of affiliates at the end of FY3/2024 :10,400 (net increase + 1,488)
・ Continue high level of new affiliates on par with theprevious year, reaching 10,000 afflirates■ Promotion of Distribution Improvement
・ Our pharmacies implement once a day delivery on
weekdays, No Saturday deliveries, reduced “rush” deliveries・ Expansion of the above measures to affiliates■ Core system modification and renewal
・ Business system renewal
・ DSE (Dead stock exchange) system modification
・ Modifications to accommodate INS line termination andInvoice■ Expansion of services for affiliates
・ Expansion of home services
・ Expansion of users of the online community "Shaberiba”
・ Education and training at our pharmacies to be made into a
service for affiliates
・ Establishment of drugs inventory sharing system
30

Manufacture and Market Pharmaceuticals Business /FY3/2024: Core Strategies－ Digital Shift Business■ Stable supply■ Expansion of purchasing pharmacies■ Expansion of pharmacies with official
LINE accounts

・ Significant expansion of market share to Network affiliates

・ Installed pharmacies 5,300 (+1,909 YoY)

・ No. of total purchasing pharmacies 5,000 *(+1,263 YoY)

・ 1,000 K users registered（+36 K YoY）

( *include Network affiliates )■ Continue enhancement on functions

・ Net sales 4.2 billion yen (+57.2% YoY)
【Generic drug purchases by network affiliates】
Per pharmacies
average amountpurchased

・ Link with portal site for Japanese “My-Number”

Amount of genericpurchases by Network
affiliates pharmacies
approx. 88 bil. yen

social security numbers【Users registered & Installed pharmacies】

Product Lineup
Expansion

Increase inswitching items

Switching rate
22％

・ Linkage with Online Medical Care

1,000 K users
registered

Network affiliates
Expansion
Feldsenf Pharma
product coverage amount:approx. 20.8 bill. yen

Purchasing
AmountIncrease inpurchasing
pharmacies

Purchasing pharmacies

No. of Network affiliates

5,300
Installed pharmacies

Adoption rate 25％

31

FY3/2024: Core Strategies－Leasing and Facility related Segment■ Achieve 90% occupancy rate and stable operations at Wisteria
・ Review resident needs and develop new sales channels
・ Reduce relocation by improving the quality of "counseling" services■ Appropriate cost control
・ Examine and reduce labor and advertising costs( End of FY 3/2023 target )( All 5 buildings
Occupied target : 90.2% )(Target)32

Earnings Forecast for FY3/2024: Consolidated Forecast
Sales will increase while we expect earnings to decrease due to the termination of transitional measures
for the additional for Community support system premium and the impact of higher purchase prices
accompanying the NHI price revision(Unit: million yen)

FY3/23(Results)

FY3/24(Forecast)

Net sales

109,551

112,500

EBITDA

6,122
5.6 %

Operating profit
Profit margin

ChangeChange (%)+ 2,948+ 2.7 %

6,200

(563)

5.6 %

(0.7 pt)(17.8 %)

3,163

2,600

(563)

2.9 %

2.3 %

(0.6pt)Ordinary profit

3,355

2,550

(805)

Profit margin

3.1 %

2.3 %

(0.8 pt)

Profit attributable to owners ofparent

1,610

1,000

(610)

1.5 %

0.9 %

(0.6 pt)

53.38

33.14

(20.24)(17.8 %)

(24.0 %)

(37.9 %)

Profit margin

Earnings per share
(Yen)

－

33

Earnings Forecast for FY3/2024: Forecast by Segment■ Net sales(Unit: million yen)

FY3/23

FY3/24(Results)(Forecast)

ChangeChange (%)

109,551

112,500+ 2,948+ 2.7 %

Community Pharmacy
Network Segment*1

104,399

106,824+ 2,425+ 2.3 %

Other 3 Segments*2

6,089

6,518

+ 429

+ 7.0%

Adjustments

▲ 937

▲ 842

▲ 94

－

Net sales■ Operating Profit(Unit: million yen)
Profit percentage in brackets

3,163（2.9 %）

2,600

Community Pharmacy
Network Segment*1

5,887（5.6 %）

4,977

Other 3 Segments*2

▲180

（－）

220

Adjustments▲ 2,542（－）▲ 2,597

Segment profit（2.3 %）▲ 563（▲0.6pt）▲ 17.8 %（4.7 %）▲ 910（▲0.9pt）▲ 15.5 %（3.4 %）

+ 401

（－）

－

（－）

▲ 55

（－）

－

※3

※3

*1 Community Pharmacy Business,3 Pharmacy Support Business(Pharmaceutical Network Division, Pharmaceutical Manufacturing and Sales Division, Digital Shift Division)*2 Leasing and Facility related Segment, Meal Catering Segment, Home Visit Nursing Segment*3 From FY2024, Development sales expenses is shifted from Leasing and Facility related Segment to Community Pharmacy Business Impact: -124 million yen

34

FY3/2024: Earnings Forecast (comparison to previous term)■ Operating profit■ Net sales(Unit: million yen)

(Unit: million yen)

*1.2

*2

YoY

FY3/2023
Results

FY3/2024
Forecast

No.of prescriptions atexisting pharmacies

+1.5%

＋1.9%

Prescription unit price atexisting pharmacies(1.3%)(2.2%)*1 Impact of the end of the transitional measures forthe additional for Community support system
fee :（809M）*2 Effective from FY2024, change ofpharmacy development sales expenses
from Leasing and Facility related segment
to Community Pharmacy Network segment.
Impact (124M)* “Existing pharmacies” refer to pharmacies that continue to be in business on or after April 1, 2022

35

FY3/2024：Prospective Dividends
・Basic policy
Maintain the necessary retained earnings to strengthen our financial position, expand the scale of our business,and develop our human resources, while at the same time paying stable dividends to our shareholders in a mannercommensurate with our business performance.
・For the FY ending March 31, 2024,

We plan to pay interim and year-end dividends of 5 yen per share each, for an annual dividend of 10 yen per share【Shareholder Return Indicators 】■ FY3/2024（Forecast）■ FY3/2023（prospects）
Annual dividend per share
Dividend payout ratio

Annual dividend per share
Dividend payout ratio

12yen
22.5%

10yen
30.2%

【 Annual dividend per share trend 】
Year-end

10yen

Interim36

Application for selection to the Standard Market
・Decided to apply for an option to change the market classification from Prime Market toStandard Market based on the most recent compliance with the listing maintenance standards.
of the Prime Market.
・We will continue to work on strengthening our earnings base / aggressive businessdevelopment and achieving our mid-term management plan for sustainable growth andmedium- to long-term corporate value enhancement.
【Standard market conformity status】

Number ofshareholders（People）

Our
Conformity
Status2023
As of March 31

Standard Market Listing
Maintenance Criteria

Number ofshares incirculation(Units)Total market
capitalizationof tradable
shares(Billions ofyen)

Ratio oftradableshares（%）

Averagemonthly
trading
volume(Units)Net assets

8,019

187,046

7.5

61

9,964

Positive

400

2,000

1

25

10

Positive37

4Reference
Materials

38

Sustainability Initiatives
As a company that supports the health of local residents, we aim to achieve both a sustainable
society and sustainable growth.
Environmental
Conservation Initiatives

Contribution to Society【Rationalization of Pharmaceutical Distribution】

・Reduction of CO₂ emissions by reducing returns
and urgent deliveries, placing regular orders, andoptimizing delivery frequency
・Reduction of pharmaceutical waste through tradingof immovable inventory among pharmaceutical
network affiliates and proper inventory
control through inventory management system【Support for public awarenessof transplantation medicine】【Employment of people withdisabilities Support for productionof Chinese herbal raw materials】【Contributing to Society throughSports】

・Ensure compliance

Strengthening Governance・Establishment of risk management system
・Improvement of financial structure
・Prompt and personalized information disclosure
・Transition to a company with an audit committee system(scheduled for June 2023)
39

MSNW Group Company Briefing Video

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MEDICAL SYSTEM NETWORK Co., Ltd.

[Contact us]
Corporate Management Divisionhttps://www.msnw.co.jp/eng/

E-mail： info@msnw.co.jp

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