Overview
Pharmaceutical

CellSource Co.,Ltd.

CellSource Co., Ltd. is a Japan-based regenerative medicine services company that provides cell and tissue processing, storage, and related support services to medical institutions. Its core offerings include PFC-FD (freeze-dried platelet-rich plasma) processing from patient blood, adipose-derived stem cell processing and cryopreservation, and fat tissue long-term storage (FatBank), primarily targeting orthopedic, plastic surgery, and gynecology clinics offering self-pay treatments. The company also provides regulatory compliance support services to medical institutions navigating Japan's Regenerative Medicine Safety Act, and operates a consumer business leveraging its regenerative medicine expertise.

Market Cap
¥6.21B
US$39.6M
EV
¥1.43B
US$9.12M
Stock¥313▼-0.95%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
3.5
x
LTM EV/EBIT
6.4
x
LTM PER
63.4
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-61.1%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Dec 12, 25Business sale to GMO Media announcement
2Mar 18, 26Related to Yamakawa Masayuki large holding report
3Jun 11, 26Q2 FY2026/10 earnings announced
MC → EV Bridge
6.21BUS$39.6MMarket Cap0.06BUS$0.36M+ Debt4.73BUS$30.2M− Cash0.11BUS$0.71M− Inv. Sec.1.43BUS$9.12MEV
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Performance & Balance
Revenue 5Y (¥B)
2.92US$18.6M'21/104.27US$27.3M'22/104.51US$28.8M'23/104.36US$27.8M'24/103.71US$23.7M'25/10
EBITDA 5Y (¥B)
1.02US$6.52M'21/101.62US$10.3M'22/101.28US$8.19M'23/100.27US$1.73M'24/100.36US$2.32M'25/10
Net Income 5Y (¥B)
0.65US$4.15M'21/101.02US$6.49M'22/100.92US$5.89M'23/100.24US$1.51M'24/100.01US$0.06M'25/10
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.55US$16.3M0.00US$0.01M'21/103.30US$21.0M'22/104.93US$31.5M0.10US$0.62M'23/104.50US$28.7M'24/104.82US$30.8M0.06US$0.36M'25/10
Shareholders
Top 10 hold 61.7%
1
Masayuki YAMAKAWA
36.14%
2
Serial Incubate Inc.
9.57%
3
Rihito KUNMOTO
6.84%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.70%
5
Rakuten Securities, Inc. (Joint Account)
1.50%
6
Custody Bank of Japan, Ltd. (Trust Account)
0.62%
7
Monex, Inc.
0.41%
8
Hirohiko HANAKI
0.36%
9
Takeshi AMEMIYA
0.31%
10
Koji KUROMOTO
0.30%
Management
5 officers
Masayuki YAMAKAWA
Representative Director, President CEO
Oct 1993 Opened Seishin Biyo Geka Clinic Apr 2007 Opened THE CLINIC Tokyo Jan 2015 Founded Serial Incubate Inc., Representative Director (current) Nov 2015 Founded the Company, Representative Director Mar 2016 Opened Tokyo Knee Osteoarthritis Clinic Dec 2019 Founded Synergion Co., Ltd., Representative Director (current) Jan 2022 Director of the Company Feb 2022 Founded Forest Street Co., Ltd., Representative Director (current) Jan 2024 Chairman of the Board of the Company Oct 2025 Representative Director, Value Define Inc. (current) Nov 2025 Representative Director, President CEO of the Company (current)
1964-07-03
Tomohiro IGA
Director
Apr 1994 Joined The Nippon Credit Bank, Ltd. (now SBI Shinsei Bank, Ltd.) Sep 2003 Joined KIACON Co., Ltd. Sep 2005 Joined Revamp Inc. Apr 2014 Joined Force Valley Concierge Co., Ltd. Jun 2017 Director, Force Valley Concierge Co., Ltd. Apr 2021 Joined AMANA Inc. Mar 2023 Director, CFO, AMANA Inc. Jul 2024 Joined the Company Nov 2024 Executive Officer, Head of Corporate Division, the Company (current) Jan 2026 Director, CFO, the Company (current)
1970-12-08
Takeshi AMEMIYA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1986 Joined Itochu Corporation Aug 1999 Joined Nihon Online Securities Co., Ltd. (now au Kabucom Securities Co., Ltd.) May 2002 Executive Officer, Nihon Online Securities Co., Ltd. Jun 2008 Senior Managing Executive Officer, CFO, Nihon Online Securities Co., Ltd. Jun 2017 Joined the Company Aug 2017 Director, Head of Management Administration Division, the Company Mar 2020 Director, Head of Corporate Planning Division, the Company Feb 2021 Director, Chief Financial Officer, the Company Jan 2022 Director, the Company Jan 2023 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1962-07-14
Tsuneyasu OZAKI
Director (Audit and Supervisory Committee Member)
Apr 1994 Entered Legal Training and Research Institute Apr 1996 Appointed Public Prosecutor Apr 1997 Fukuoka District Public Prosecutors Office Apr 1999 Tokyo District Public Prosecutors Office, Special Investigation Department Apr 2003 Ministry of Justice, Minister's Secretariat, Litigation Division, Administrative Litigation Section (attached) Jul 2004 Assistant Manager, Planning and Coordination Division, Administrative Procedures Office, Administrative Management Bureau, Ministry of Internal Affairs and Communications Jul 2005 Retired as Public Prosecutor Aug 2005 Registered as Attorney-at-Law Jan 2008 Partner Attorney, Nishimura & Asahi (now Nishimura & Asahi Gaikokuho Kyodo Jigyo Horitsu Jimusho) Jun 2014 Outside Audit & Supervisory Board Member, Tosoh Corporation (current) Sep 2016 Chairman, Governance Committee, Takada Kogyosho Co., Ltd. Jan 2019 Outside Audit & Supervisory Board Member, the Company Jan 2023 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jan 2025 Representative, Ozaki Law Office (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), Minkabu The Infonoid, Inc. (current)
1969-06-24
Aiken KAMINO
Director (Audit and Supervisory Committee Member)
Oct 1995 Joined Chuo Audit Corporation Apr 1999 Registered as Certified Public Accountant Aug 2008 Partner, Shin Nihon LLC (now EY ShinNihon LLC) Jul 2011 Representative, Kamino Certified Public Accountant Office (current) Sep 2011 Registered as Certified Tax Accountant Apr 2012 Representative Partner, Aoyama Access Tax Corporation (current) May 2013 Outside Audit & Supervisory Board Member, Renown Inc. Oct 2014 Representative Director, Aoyama Access Consulting Co., Ltd. (current) Mar 2015 Outside Audit & Supervisory Board Member, Enalis Corporation Feb 2016 Outside Audit & Supervisory Board Member, No.1 Co., Ltd. (current) Jun 2017 Outside Director, Energy Product Co., Ltd. (current) Jul 2019 Outside Director, Space Value Holdings Inc. May 2024 Outside Audit & Supervisory Board Member, JU Gifu Hashima Auto Auction Co., Ltd. (current) Jan 2026 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1968-03-04
Large Shareholding Reports
Serial Incubate Co., Ltd.
2026-09-16
9.59%→34.76%
Annual report (as of 2026-04-30): 9.57%
Masayuki YAMAKAWA
2025-12-19
36.22%→36.19%
Annual report (as of 2026-04-30): 36.14%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-16
Large Shareholding Report
TDnet
2026-09-08
Q3 Earnings Flash
FY ending Oct 2026
EDINET
2026-06-10
Semi-Annual Securities Report
Period: Nov 2025 – Oct 2026
TDnet
2026-03-17
Q1 Earnings Flash
FY ending Oct 2026
EDINET
2026-01-28
Annual Securities Report
Period: Nov 2024 – Oct 2025
EDINET
2025-12-19
Large Shareholding Report
TDnet
2025-09-11
Q3 Earnings Flash
FY ending Oct 2025
EDINET
2025-06-12
Semi-Annual Securities Report
Period: Nov 2024 – Oct 2025
TDnet
2025-03-11
Q1 Earnings Flash
FY ending Oct 2025
EDINET
2025-01-31
Annual Securities Report
Period: Nov 2023 – Oct 2024
EDINET
2024-06-13
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
EDINET
2024-03-11
Quarterly Securities Report
Period: Nov 2023 – Jan 2024
EDINET
2024-01-25
Annual Securities Report
Period: Nov 2022 – Oct 2023
EDINET
2023-09-13
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-14
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-03-14
Quarterly Securities Report
Period: Nov 2022 – Jan 2023
EDINET
2023-01-27
Annual Securities Report
Period: Nov 2021 – Oct 2022
EDINET
2022-09-13
Quarterly Securities Report
EDINET
2022-06-13
Quarterly Securities Report
EDINET
2022-03-16
Quarterly Securities Report
EDINET
2022-01-27
Annual Securities Report
EDINET
2021-09-10
Quarterly Securities Report
EDINET
2021-06-14
Quarterly Securities Report
EDINET
2021-03-15
Quarterly Securities Report
EDINET
2021-01-28
Annual Securities Report
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