Financial Data and Key Metrics Changes - The company reported a steady increase in the number of franchisee clinics, reaching 258 clinics, with an annual customer base expanding to approximately 6.5 million [2][3] - Financial performance showed signs of recovery, with operating income and net income benefiting from a decline in racing-related costs and an increase in point-related revenues [3][4] Business Line Data and Key Metrics Changes - The average revenue per customer visit is recovering due to pricing and promotion strategies, as well as a multi-brand strategy in the dermatology segment [3] - The company is focusing on enhancing R&D capabilities through the acquisition of Waku, which specializes in regenerative medicine and skincare products [4][5] Market Data and Key Metrics Changes - The company has entered into a partnership with BLEZ ASIA to provide laser treatment in Thailand, aiming to tap into the growing aesthetic medical market [4] - The company is exploring proof of concept (POC) initiatives in Thailand, with plans to expand into other Asian markets like Malaysia and Indonesia [11] Company Strategy and Development Direction - The company aims to strengthen its overall competitiveness and achieve sustainable growth through strategic partnerships and acquisitions, particularly in the aesthetic medical and clinical industries [20] - The U.S. market entry strategy involves forming strong partnerships and leveraging learnings from the Japanese market, while being cautious about direct replication of the business model [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining positive momentum in financial performance, expecting stable growth in Q4 and the following year [12][21] - The company is considering providing financial guidance in the near future to address investor needs for revenue and profit expectations [21][25] Other Important Information - The company is working on improving liquidity through measures such as new share issuance and potential share buybacks, acknowledging the current low share price [6][23] - Dividend payments are being considered as a way to attract new investors, although the focus remains on capital allocation for strategic initiatives [24] Q&A Session Summary Question: Why was COVID elevated during Q3 2025, and when do you expect a Franchise Fee Division impact to be fully absorbed going forward? - The increase in costs was attributed to medical equipment lease and the consolidation of AHH acquired in Singapore, with expectations of continued positive trends [9] Question: Could you elaborate on the Balance Sheet changes during the quarter? - Changes included borrowing for working capital, adjustments in payment terms for related parties, and a decrease in tax debt due to midterm income tax payments [10] Question: What is your expectation for organic growth going forward for both breadth and revenue? - The company expects to maintain positive momentum seen in Q3, with stable financial performance anticipated in Q4 and next year [12] Question: Could you describe the strategic relationship behind acquiring Waku? - The acquisition aims to realize synergies through enhanced sales of Waku products at SBC clinics and joint development of pharmaceutical and medical devices [15][16] Question: Can you comment on the latest status of your U.S. business development efforts? - The company is in a phase of understanding the U.S. market and seeking strong partners, with plans for future growth and expansion once comfortable [17][18] Question: What do you mean by more stable financial performance in Q4 and 2026? - Management confirmed expectations for revenue growth but could not provide specific numbers at this time [21] Question: How do you think about improving the liquidity situation? - The company is considering new share issues and share buybacks to increase free float and address low share prices [23] Question: Do you have any plan to disclose financial guidance or performance guidance going forward? - The company is actively considering providing financial guidance in the near future [25]