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Overview

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DVx Inc.

DVx Inc. is a specialized medical device distributor focused on cardiovascular diseases, operating two core segments: the Arrhythmia Business and the Ischemia Business. The Arrhythmia Business sells cardiac pacemakers, ablation catheters, ICDs, CRT-Ds, and diagnostic electrode catheters sourced from domestic and international manufacturers, primarily to medical institutions in the Kanto region and expanding nationwide. The Ischemia Business acts as a national general distributor of medical devices for ischemic diseases such as myocardial infarction and angina, sourcing directly from manufacturers and selling through a nationwide network of regional sales offices.

Market Cap

US$61.2M

¥9.77B

US$37.4M

¥5.97B

StockUS$5.82(¥930)▼-0.21%

US$1 = ¥159.70 (2026-11-12)

LTM EV/EBITDA

5.0

LTM EV/EBIT

19.9

LTM PER

41.0

LTM PBR

1.2

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-51.4%pt

Nov 13, 25 – Aug 27, 26StockTOPIX

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Performance & Balance

Revenue 5Y (US$)

EBITDA 5Y (US$)

Net Income 5Y (US$)

Capital Structure

100%

EquityD/E 0.00xDebt

Liquidity vs Debt 5Y (US$)▲ Net Cash

CashInv. Sec.Debt

Business Segments

2026/03 · US$ (¥B) · Segment profit (gross profit)

Arrhythmia Business

Revenue

US$286M(¥45.7B)

Segment profit

US$25.9M(¥4.13B)9.0%

Ischemia Business

Revenue

US$25.1M(¥4.00B)

Segment profit

US$2.81M(¥0.45B)11.2%

Other

Revenue

US$39.3M(¥6.28B)

Segment profit

US$4.90M(¥0.78B)12.5%

Shareholders

Top 10 hold 70.4%

as of 2026-03-31 · Source: Annual Securities Report

MSS Co., Ltd.

33.71%

UH6 Co., Ltd.

7.69%

UH Partners 2 Investment Limited Partnership

7.33%

Hikari Tsushin K.K. Investment Limited Partnership

6.32%

SIL Investment Limited Partnership

6.01%

Izumi Medical Industries Co., Ltd.

3.07%

El Camino Real Co.,Ltd.

2.22%

UH Partners 3 Investment Limited Partnership

1.50%

Gen MIYAGAWA

1.30%

Sachiko TODA

1.28%

Management

9 officers

Hiroshi SHIBASAKI

Representative Director, Chairman

Aug 1986 Joined Matsunaga Dental Clinic Aug 1991 Joined Herz Co., Ltd. Dec 1998 General Manager, Sales Department Jan 2003 Director, Head of Sales Division Feb 2004 Director, Head of Herz Business Division, following merger of Herz Co., Ltd. and DVX Japan Co., Ltd. Jun 2007 Executive Officer, Head of Herz Business Division Apr 2010 Executive Officer, General Manager of Sales Headquarters Jun 2010 Director, Executive Officer, General Manager of Sales Headquarters Apr 2012 Director, in charge of Sales Apr 2015 Director, in charge of Sales and Marketing; Executive Officer Apr 2017 Director, in charge of Arrhythmia Sales; Executive Officer Jun 2017 Managing Director, in charge of Arrhythmia Sales; Executive Officer Apr 2018 Managing Director, in charge of Arrhythmia Sales Jun 2018 Director, Executive Vice President (in charge of General Sales and Arrhythmia Sales) Apr 2019 Representative Director, Executive Vice President Jun 2019 Representative Director, President (current) Nov 2020 Director, Chairman, MSS Co., Ltd. (current) Apr 2025 Director, Sogo Iryo Service Co., Ltd. (current) Jun 2026 Representative Director, Chairman

1965-04-23

Tsuyoshi HATANO

Representative Director, President

Apr 2000 Joined Nihon Food Co., Ltd. (now Kanto Nihon Food Co., Ltd.) Apr 2004 Joined the Company Apr 2015 General Manager, Sales Department No. 4 Apr 2019 Executive Officer, General Manager, Central Japan Sales Department No. 1 Apr 2023 Executive Officer, General Manager, Central Japan Sales Department No. 3 Jun 2023 Director, in charge of Distribution Agency Business (current) Jun 2026 Representative Director, President

1977-03-13

Satoshi SUWA

Director, Executive Officer

Jun 1995 Joined the Company Apr 2012 General Manager, Operations Department Apr 2017 General Manager, Finance and Accounting Department Apr 2021 Executive Officer, General Manager, Operations Department Jun 2024 Director, in charge of Finance and Accounting and Operations; Executive Officer Apr 2025 Audit & Supervisory Board Member, Sogo Iryo Service Co., Ltd. (current) Jun 2025 Director, in charge of Finance and Accounting, Operations, Management Control, Management Strategy and Human Resources; Executive Officer (current)

1974-01-25

Tatsuya KIMURA

Director, Executive Officer

Jun 1995 Joined NP Canon Office Equipment Co., Ltd. Apr 1995 Joined Olympia Co., Ltd. Jan 1997 Joined St. Jude Medical K.K. (now Abbott Medical Japan LLC) Oct 2017 Joined the Company Apr 2022 General Manager, Sales Planning Department Jul 2024 Executive Officer (current) Jun 2026 Director, Executive Officer

1969-03-09

Atsushi YOSHIDA

Director, Executive Officer

Apr 1998 Joined Prime Consultant Co., Ltd. Apr 2007 Joined the Company Apr 2021 General Manager, Finance and Accounting Department Jul 2024 Executive Officer (current) Jun 2026 Director, Executive Officer

1974-06-26

Takeshi MIYAGAWA

Director, Audit and Supervisory Committee Member

Dec 1998 Joined Medical Soft Support Center Co., Ltd. (now MSS Co., Ltd.) Apr 2001 Joined the Company Dec 2002 Director, MSS Co., Ltd. Apr 2018 General Manager, Operations Department Apr 2019 General Manager, Internal Audit Office Jun 2019 Representative Director, MSS Co., Ltd. (current) Sep 2019 Representative Director, Nissei Meditech Co., Ltd. (current) Apr 2021 Executive Officer, General Manager, Internal Audit Office Jun 2022 Director, Audit and Supervisory Committee Member (current)

1976-08-27

Sumio SUGIYAMA

Director

Mar 1977 Joined Bausch & Lomb Japan K.K. Feb 1988 Joined Nippon Lever B.V. Sep 1991 Joined Medtronic Japan Co., Ltd. Dec 2002 Joined Becton Dickinson K.K. Apr 2006 Joined Nihon Elamedical Co., Ltd. Aug 2007 Representative Director, Sorin Japan Co., Ltd. (now LivaNova Co., Ltd.) Aug 2018 Director in charge of Business Commercialization, iCorNet Research Institute Co., Ltd. (current) Jun 2024 Director of the Company (current)

1954-07-22

Toru NOJIMA

Director, Audit and Supervisory Committee Member

Apr 1985 Joined Suzuki Tax Accountant Office Nov 1992 Joined Asahi Shinwa Audit Corporation (now KPMG AZSA LLC) Jul 2002 Partner, Asahi Audit Corporation (now KPMG AZSA LLC) Jul 2009 Representative Partner, Asahi Audit Corporation (now KPMG AZSA LLC) Jul 2019 Head, Toru Nojima Certified Public Accountant Office (current) Jun 2020 Director, Audit and Supervisory Committee Member of the Company (current)

1960-10-13

Akiko TANOUE

Director, Audit and Supervisory Committee Member

Dec 2001 Registered as attorney-at-law (Second Tokyo Bar Association) Dec 2006 Joined Cosmos Law Office, Partner (current) Jun 2022 Director, Audit and Supervisory Committee Member of the Company (current)

1967-03-05

Large Shareholding Reports

UH6 Co., Ltd.

2026-03-24

7.49%

Annual report (as of 2026-03-31): 7.69%

UH5 Co., Ltd.

2025-09-26

7.27%→7.33%

UH5 Co., Ltd.

2025-09-04

7.27%→7.27%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-07-31

Q1 Earnings Flash

FY ending Mar 2027

DVx Inc.

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DVx Inc.

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