GATEWAY 2026
Threehorizons.
One company,
three doors.
Your bridge between the world and Japan's pharmaceutical & health industry.
7+
COUNTRIES
9+
PARTNERS
2023
FOUNDED
3
DOORS
Care Link
Specialty Pharma × Last Mile
Delivering directly to patients
Last-mile delivery of specialty pharmaceuticals from pharmacies to patient homes. End-to-end cold chain management, adherence monitoring, and PSP integration.
Global Bridge
Import × Export
A two-way bridge between Japan and the world
Japan market entry for overseas pharma and raw materials. Global expansion for Japanese OTC and supplements. Regulatory to logistics, end-to-end.
garden
Supplement Development
From idea to product
Supplement and health food planning to manufacturing. OEM/ODM, raw material sourcing, and branding support.
Latest Insights
Healthcare insights shared by CEO Masaya Yamamoto on NewsPicks
マツキヨの高付加価値戦略 ― 持続性と社会的役割の両立が問われる
Matsukiyo Cocokara's business structure feels a step ahead of the broader drugstore industry. Its deliberate strategy of reducing the food sales ratio and concentrating floor space and staff on high-value-added categories—dispensing, cosmetics, and health supplements—stands in clear contrast to the traditional model of drawing customers with low prices and capturing incidental purchases. The 14.9% increase in net profit is evidence that this design is beginning to show up in the numbers. That said, it is too early for unqualified optimism. Dispensing revenue tends to be squeezed with each drug-price revision cycle, and how the next round affects that segment warrants close attention. The push into cosmetics and beauty is also partly dependent on inbound demand, meaning exchange rates and tourist-flow trends—variables beyond the company's control—carry meaningful influence. From a healthcare perspective, the role of drugstores as a social infrastructure for 'family pharmacist' services will only grow in importance. The real question is whether the company's next medium-term plan can demonstrate that a healthy profit structure and genuine contribution to community healthcare can coexist.
スーパーエイジャー研究 ― 「機嫌と老廃物」因果の過信に注意
The article layers findings from AAIC 2025 and other recent sources onto an NHK Special survey conducted over two decades ago—an interesting structure, but one point deserves scrutiny. The claim that 'people in a good mood accumulate less amyloid-beta' is stated as established mechanism, yet in my reading the link between emotional state and cerebral waste clearance remains largely hypothetical, still awaiting validation through large-scale human intervention studies. That said, other elements hold up well: the timeline describing serotonin converting to melatonin roughly twelve hours later, and the international project reporting that fourteen modifiable risk factors could prevent around 45% of dementia cases, are directionally sound. The practical recommendations—morning light, exercise, and sleep—carry low risk and high implementation value, and there is genuine merit in delivering lifestyle interventions to the public without waiting for full causal proof. The narrative of 'good mood prevents brain waste,' however, should be communicated with careful attention to where the current evidence actually stands.
大幸薬品中間期 ― 正露丸の海外シフトと先行投資の読み方
One framing point first: this interim period is less about a Cleverin recovery and more about a geographic rewrite of where Seirogan is sold. Revenue for the half came in at ¥2,636 million (+9.3% YoY), while operating profit fell to ¥17 million (−63.4%), squeezed by a 3.8% rise in SG&A driven by overseas marketing spend even as gross profit grew only 1.4%. The pharmaceutical segment tells the real story: overseas sales nearly doubled (+118.7%) to ¥1,112 million, closing in on domestic sales of ¥1,410 million (−16.9%), with the domestic decline attributed to Seirogan supply constraints, the return of competing products, and lower inbound demand—factors worth separating from any reading of underlying demand weakness. The infection-control segment continues to shrink, though reduced advertising narrowed its segment loss by ¥59 million. Expanding overseas with an established brand is a rational strategic move given Japan's demographic headwinds; however, the two questions worth watching in the second half are whether overseas shipments reflect genuine end demand or channel inventory build-up—flagged by a ¥66 million operating cash outflow and a ¥286 million rise in inventories—and whether normalized domestic supply translates into a revenue recovery. The full-year guidance of ¥500 million operating profit, heavily back-half weighted at a 3.4% interim progress rate, rests squarely on both of those conditions being met.