Menicon

Basic Information

Stock Code
7780
Industry
Precision Instruments
Category Detail
Healthcare & Nursing Care
Prefecture
Aichi Prefecture
Establishment Year
July 1957
Listing Year
June 2015
Official Website
https://www.menicon.co.jp/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
Ubicom, Tsumura, HOYA, SEED, Cynthia, GENOVA

Overview

Menicon is Japan's largest contact lens manufacturer, founded in 1957, leading the ophthalmology market with diverse product offerings and membership-based services.

Current Situation

Menicon achieved consolidated sales of 116.1 billion yen and operating profit of 8.9 billion yen in the fiscal year ended March 2024, maintaining a solid financial base as Japan's largest contact lens manufacturer. Its core businesses are the manufacturing and sales of medical contact lenses and the membership-based Mels Plan, securing a stable customer base through differentiated services. The company advances technological innovations with proprietary silicone hydrogel materials and multifocal lenses, while focusing on future-oriented product development such as smart contact lenses. To address environmental and social challenges, it actively expands stores domestically and internationally and engages in cultural support activities to strengthen community ties. In 2024, it made France's Laboratoire Dencott a subsidiary to expand overseas operations. Aiming for sustainable growth toward 2030, it is further promoting globalization and digital technology adoption.

Trivia

Interesting Facts

  • The company that first commercialized corneal contact lenses in Japan
  • Company name derives from 'Eye Contact Lenses'
  • Mels Plan membership service started in 2001
  • Japan's largest comprehensive contact lens manufacturer
  • Cultural support including Menicon Cup and theater operations
  • Providing long-wear rigid lenses since the 1990s
  • Partnered with U.S. firm for smart contact lens development
  • Arts and culture hub 'ANNEX' installed in headquarters
  • Unified brand sales chain 'Miru partner' deployment
  • Overseas bases in Europe, China, and Southeast Asia
  • Founder Kyoichi Tanaka began self-taught lens research
  • Acquired major French specialty lens firm in 2024
  • Employs multiple celebrities as image characters
  • Member services include compensation and regular delivery
  • Handles OEM production for other brands

Hidden Connections

  • Co-development with U.S. Mojo Vision exemplifies Japanese firms' focus on smart lens technology.
  • Mels Plan's membership system is a customer retention strategy leveraging strong ophthalmologist ties.
  • Acquisition of European subsidiary establishes technological superiority in specialty lens market.
  • Cultural promotion activities contribute to corporate image enhancement and long-term community trust.
  • Menicon products are manufactured under strict quality control as medical devices.
  • Subsidiaries of multiple domestic sales chains achieve market share growth.
  • Menicon ANNEX arts facility also boosts employee creativity.
  • Enhanced membership services reduce customer churn and ensure stable revenue.

Future Outlook

Growth Drivers

  • Advancement of domestic ophthalmology market and demand for high-value-added products
  • Stable customer retention through membership services
  • Aggressive expansion in overseas markets (especially Europe and Asia)
  • Practical application of advanced technologies like smart contact lenses
  • Shift to environmentally friendly products and changing consumer needs
  • Expansion of digital marketing utilization
  • Integration and strengthening of store networks
  • Popularization of digital health services like remote diagnostics
  • Brand value enhancement through cultural and sports support
  • Product development targeting diverse customer segments

Strategic Goals

  • Expand share domestically and internationally while maintaining market leadership
  • Commercialize and expand smart contact lens products
  • Strengthen manufacturing and product development for reduced environmental impact
  • Increase Mels Plan membership and improve services
  • Foster diversity-respecting organizational culture and talent development
  • Expand overseas sales ratio to over 30%
  • Continue cultural arts support and enhance social recognition
  • Further enhance medical device quality control and safety
  • Maintain top-runner status in industry technology and product development
  • 开拓 new business areas and diversify revenue

Business Segments

Products and Services for Ophthalmology Medical Institutions

Overview
Provides a wide range of products and support services to ophthalmology medical institutions.
Competitiveness
Strengthened collaboration with ophthalmologists and high-quality medical products
Customers
  • Ophthalmology clinics
  • Hospitals
  • Vision correction specialty stores
  • Veterinary ophthalmology
Products
  • Disposable contact lenses
  • Rigid gas permeable contact lenses
  • Care products
  • Prescription support systems

Retail Store Support

Overview
Supports retail stores in enhancing sales capabilities and expanding brand recognition.
Competitiveness
Powerful sales chain support and marketing
Customers
  • Contact lens specialty stores
  • Eyeglass stores
  • Chain stores
  • Mass retailers
Products
  • Sales promotion tools
  • Unified brand logo rollout
  • Education and training programs

Overseas Market Expansion

Overview
Promotes global sales of products through overseas bases.
Competitiveness
Local subsidiaries enabling market adaptation
Customers
  • Overseas ophthalmology distributors
  • Medical institutions
  • Exporters
Products
  • Contact lenses in general
  • Orthokeratology lenses
  • Smart contact co-development products

Veterinary Medical Products Business

Overview
Develops and sells ophthalmology medical products for animals.
Competitiveness
Product development based on specialized veterinary knowledge
Customers
  • Animal hospitals
  • Pet clinics
Products
  • Canine intraocular lenses
  • Veterinary medical devices

R&D Collaborations

Overview
Actively promotes joint research and development of cutting-edge technologies.
Competitiveness
Proven track record in diverse collaborations
Customers
  • University research institutions
  • Technology development companies
Products
  • Smart contact lens technology
  • New material development

Manufacturing Outsourcing and OEM Business

Overview
Expands industry share through OEM production and manufacturing technology support.
Competitiveness
Advanced manufacturing technology and quality control
Customers
  • Domestic and international lens brands
  • Medical device manufacturers
Products
  • Production equipment
  • Manufacturing technology

Sales Management Support Services

Overview
Provides services to support efficient sales management.
Competitiveness
System implementation and operational support capabilities
Customers
  • Sales agents
  • Retail chains
Products
  • Sales data management systems
  • Customer management

Education and Training Business

Overview
Conducts education programs to enhance specialized knowledge.
Competitiveness
Industry-leading training content
Customers
  • Ophthalmologists
  • Sales staff
  • Training centers
Products
  • Technical training
  • Sales know-how seminars

Digital Marketing Support

Overview
Supports online sales promotion and brand strengthening.
Competitiveness
Powerful digital promotion
Customers
  • Distributors
  • Retail stores
Products
  • SNS advertising
  • Official EC site operations

Logistics and Delivery Services

Overview
Contributes to customer satisfaction through smooth product delivery.
Competitiveness
Fixed-rate delivery service 'Care Plus' and others
Customers
  • Various sales channels
  • Mail-order users
Products
  • Logistics management
  • Regular delivery services

Events and Cultural Support Business

Overview
Creates brand value through promotion of culture and sports.
Competitiveness
Strong ties with local communities
Customers
  • Cultural groups
  • Sports associations
Products
  • Menicon Cup
  • Menicon Theater operations

New Business Development

Overview
Advances initiatives to create new markets with cutting-edge technologies.
Competitiveness
Proven co-development with Mojo Vision
Customers
  • Health tech sector
  • Smart device market
Products
  • Smart contact lenses
  • Remote ophthalmology diagnosis support

Competitive Advantage

Strengths

  • Top domestic brand recognition
  • Stable customer base from membership-based Mels Plan
  • Advanced lens technology development capabilities
  • Expanding global sales network
  • Diverse product lineup
  • Comprehensive after-sales service
  • Strong ties with medical institutions
  • Solid financial foundation
  • Abundant R&D resources
  • Multifaceted cultural and sports support

Competitive Advantages

  • High customer loyalty from Mels Plan
  • Extensive network of directly operated stores and agents domestically and internationally
  • High-function lens development using silicone hydrogel materials
  • Active investments in advanced technologies like smart contact lenses
  • Product variations addressing diverse user needs
  • Strong partnerships with ophthalmologists and sales support systems
  • Global expansion achieving foreign currency earnings and market growth
  • Aftercare and warranty services supporting long-term use
  • Cultural and sports support enhancing regional brand power
  • Diversified business structure supporting stable revenue

Threats

  • Market shrinkage risk from domestic population decline
  • Intensifying technological innovation and price competition from rivals
  • Fluctuations in raw material prices
  • Stricter regulations and healthcare system reforms
  • Heightened competition in emerging markets
  • Uncertainty in smart device markets
  • Impact on sales stores from infectious disease outbreaks
  • Cost increases from strengthened environmental regulations

Innovations

2024: Complete Acquisition of French Laboratoire Dencott

Overview
Strengthens manufacturing and fitting services for specialty contact lenses to expand in the European market.
Impact
Enhanced presence and technological strength in Europe

2023: Opening of Menicon Theater Aoi Building

Overview
Establishes a comprehensive arts theater to enhance brand value through cultural initiatives.
Impact
Promotion of local culture and improved corporate image

2021: Business Alliance with Johnson & Johnson Vision

Overview
Builds joint development and sales framework for global rollout of myopia control lenses.
Impact
Market expansion and strengthened technological competitiveness

2020: Smart Contact Lens Development Agreement Signed

Overview
Begins co-development of smart contacts with U.S. Mojo Vision, focusing on new technology creation.
Impact
Expectations for market innovation through next-generation products

2020: Complete Acquisition of China's Wenzhou Xinshijie Technology

Overview
Strengthens manufacturing and sales bases in China to advance Asian strategy.
Impact
Improved competitiveness in Asian markets

2020: Complete Acquisition of Hamano Contact in Osaka

Overview
Acquisition aimed at enhancing domestic sales network and service quality.
Impact
Expanded sales channels and improved performance

2024: Subsidiaries of 3 Sales Companies in Southeast Asia

Overview
Strengthens sales power and network in Asian emerging markets.
Impact
New market development and revenue base reinforcement

2022: Full Acquisition of Orthokeratology Lens Business

Overview
Enhances development and sales systems for differentiated correction technology.
Impact
Improved technological competitiveness and market share expansion

Sustainability

  • Promoting product recycling and reducing environmental impact
  • Introducing energy-saving manufacturing equipment
  • Continuously strengthening community contribution activities
  • Sustainable procurement and supply chain management
  • Promoting diversity and inclusion
  • Thorough employee health and safety management
  • Proactive response to environmental regulations
  • Eco-packaging development and resource reduction
  • Social value creation through cultural arts support
  • Publication of sustainability reports