【JP:150A】Stock Price

JSH is a company that operates visiting nursing services focused primarily on mental health conditions, along with disability employment support and tourism/local product businesses in regional areas. Its core services are home-based medical care through the visiting nursing station "Cordiare," and employment support for people with disabilities utilizing indoor farms and hydroponic cultivation facilities established in regional locations.

The company's main customers in home-based medical care are users receiving insurance benefits and the public insurance organizations and medical institutions that pay for them, with the majority of revenue coming from medical service fees. On the regional revitalization side, stable revenue streams include one-time fees from supporting companies in hiring people with disabilities, and recurring monthly income from farm usage fees and employment retention support services.

The business is divided into two main segments: "Regional Revitalization Business" and "Home-Based Medical Care Business." Regional revitalization comprises ①disability employment support (farm operations, personnel placement, hydroponic equipment rental and retention support) and ②tourism and local products (travel agency services, homestay accommodations, local product sales). Home-based medical care focuses on psychiatric visiting nursing and consulting services for medical institutions, with visiting nursing stations deployed nationwide, creating synergies between both business segments through mutual referrals of users and medical institutions.

The company is pursuing sustainable growth through two main pillars: home-based medical care (primarily psychiatric visiting nursing services) and regional revitalization (employment support for people with disabilities and tourism/local products). Policy tailwinds include the scheduled increase in private sector disability employment quotas (2.5% in April 2024, 2.7% in July 2026) and rising numbers of patients with mental illness (approximately 6.03 million). In response, the company aims to expand the number of client companies, increase employees per company, and grow its user base through expanded visiting nursing station locations. Currently operating 26 visiting nursing stations, the company sees significant growth potential compared to the approximately 17,329 visiting nursing facilities nationwide.

Priority investment areas include indoor farms and hydroponic cultivation equipment for employment support of people with disabilities, as well as home-based medical care facility development and workforce training. The farms will introduce hydroponic systems to provide safe and stable work environments while leveraging the company's home-based medical care expertise to support user retention and improve vocational skills for those with mental illness. The company differentiates itself by providing employers with vocational development support and reasonable accommodations in line with disability employment promotion law, while cultivating stable revenue streams from farm usage fees and monthly retention support payments.

Market expansion and business growth will be driven by strengthened partnerships with medical institutions and optimized regional facility portfolios. Key initiatives include increasing patient referrals through relationship building with medical providers and establishing visiting nursing services coordinated with visiting physician care. New farm locations will be selected based on the concentration of disability certificate holders and transportation accessibility in candidate areas, with visiting nursing stations continuing to be established near farms. In tourism and local products, the company will capture inbound and school trip demand recovery through expanded homestay accommodations and new experience program development.

On technological innovation, the company is improving productivity and safety through cultivation equipment deployment, while advancing visiting nursing efficiency via facility location optimization and digitalization of information coordination. Specific measures include electronic documentation between primary physicians and nurses, reduced travel time through optimized visiting routes, and enhanced knowledge sharing through expanded internal and external training. The company is simultaneously improving compensation and benefits to support workforce recruitment and retention. Financially, the company balances internal reserve accumulation with flexible capital procurement while prioritizing investment allocation for business expansion.