SINCERE

Basic Information

Stock Code
7782
Industry
Precision Instruments
Category Detail
Healthcare & Nursing Care
Prefecture
Tokyo
Establishment Year
September 2008
Listing Year
December 2016
Official Website
https://www.sincere-vision.com/
TSE Information
TSE Information
Yahoo! Finance
Yahoo! Finance
Other Companies
P.A., OneX, HOYA, SEED, Menicon, Taiun

Overview

SINCERE is a medical device manufacturer founded in 2008, headquartered in Bunkyo-ku, Tokyo, with a core business in manufacturing and selling contact lenses.

Current Situation

SINCERE recorded consolidated sales of approximately 4.2 billion yen in 2020 and has achieved steady growth in the domestic contact lens market. Headquartered in Bunkyo-ku, Tokyo, it possesses advanced manufacturing technology supporting multiple color contact lens brands via OEM production. It is expanding its business foundation by making subsidiary Generic Corporation a wholly owned subsidiary. Products utilize spin cast and cast mold manufacturing methods, ensuring both quality and safety. Moving forward, it will focus on digital sales channel expansion, such as acquiring the 'Mew Contact' online shop business, to improve performance and strengthen competitiveness. Collaboration with overseas manufacturing bases ensures cost efficiency and production stability. Environmental initiatives include ongoing manufacturing process efficiency improvements, and backed by growing demand in the medical device sector, it aims to expand market share. Competitors include HOYA, Menicon, and SEED, with technological innovation and brand strengthening as key future focuses.

Trivia

Interesting Facts

  • Company name 'SINCERE' means 'sincere and genuine'.
  • Specializes in high-quality lens manufacturing using spin cast method.
  • Listed on Tokyo Stock Exchange Standard Market in 2016.
  • Supports numerous color contact brands as an OEM manufacturer.
  • Medical device company headquartered in Hongo, Bunkyo-ku, Tokyo.
  • Acquired Generic Corporation as a subsidiary in 2021.
  • Scheduled to acquire 'Mew Contact' mail-order business from 2025.
  • Specialized manufacturer focused on contact lenses since founding.
  • Received business transfer of Generic Corporation, formerly a subsidiary of Odakyu Electric Railway.
  • Sales approx. 4.2 billion yen in 2020, approx. 37 employees (small-scale enterprise).
  • Major competitors in industry include HOYA, Menicon, and SEED.
  • L-CON 1DAY is a flagship brand with long sales history.
  • Produces a wide variety of color contact products.
  • Aggressively strengthening mail-order channels as part of growth strategy.
  • Efficient technology development and sales from central Tokyo base.

Hidden Connections

  • Strengthened industry capital relationships through acquisition of subsidiary shares from Odakyu Electric Railway.
  • Core OEM company undertaking manufacturing for multiple color contact brands.
  • Advancing ties with online sales industry through mail-order expansion.
  • Part of medical device manufacturing cluster in Bunkyo-ku, Tokyo.
  • Active R&D specialized in high-performance soft contact lenses for medical use.
  • Gaining attention from environmentally conscious investors through long-term sustainability efforts.
  • Synergy creation between mail-order and manufacturing via full ownership of Generic Corporation.
  • Strong ties to regional economy through Nikkei personnel information etc.

Future Outlook

Growth Drivers

  • Increasing demand for color contacts domestically and internationally
  • Mail-order sales expansion from growing e-commerce usage
  • Product differentiation through technological innovation
  • Expanding medical device demand amid aging society
  • Aggressive overseas market expansion
  • Shifting consumer preferences toward eco-friendly products
  • Increased opportunities for new products from regulatory easing
  • Diversification via subsidiaries and new ventures
  • Custom product development responsive to customer needs
  • Enhanced marketing for brand awareness
  • Improved convenience of online services
  • New technology adoption through joint R&D

Strategic Goals

  • Achieve over 20% domestic market share
  • Expand mail-order sales to 30% of total
  • Make low-environmental-impact products over 50% of lineup
  • Grow overseas sales to over 40% of total
  • Complete development of next-generation lenses using new materials
  • Halve current quality defect rate
  • Promote AI-driven automation of manufacturing processes
  • Thorough environmental and safety education for all employees
  • Improve manufacturing efficiency through stronger partner collaborations
  • Increase advertising investments for brand value enhancement

Business Segments

OEM Manufacturing Business

Overview
Provides high-quality contact lens OEM manufacturing to meet diverse customer needs.
Competitiveness
High-precision manufacturing with latest technology and rapid delivery
Customers
  • Color Contact Lens Brands
  • Ophthalmology Clinics
  • Sales Agents
  • Mail-Order Operators
  • Beauty-Related Companies
  • Health-Related Companies
  • Retail Chains
  • Overseas Customers
Products
  • Spin Cast Method Lenses
  • Cast Mold Method Lenses
  • Disposable Soft Contact Lenses
  • Color Contact Lenses
  • Special Purpose Lenses
  • Custom Design Lenses

Online Shop Operation Business

Overview
Operates its own e-commerce site for convenient contact lens sales.
Competitiveness
Rapid service system directly reaching consumers
Customers
  • General Consumers
  • Seniors
  • Repeat Customers
  • Younger Demographics
  • Vision Correction Users
  • Online Shoppers
Products
  • Mail-Order Exclusive 1-Day Lenses
  • Color Contacts
  • Care Products
  • Accessories

R&D Support Business

Overview
Provides comprehensive technical support from R&D to manufacturing.
Competitiveness
Technical expertise and flexible responsiveness
Customers
  • University Research Institutions
  • Medical Device Developers
  • Ophthalmology Specialists
  • Material Suppliers
Products
  • Prototype Manufacturing Services
  • Technical Consulting
  • Manufacturing Process Development
  • Material Selection Support

Overseas Transactions

Overview
Supplies products and technical support for overseas markets.
Competitiveness
Quality management compliant with international standards
Customers
  • Overseas Medical Device Sellers
  • Exporters
  • Overseas Brands
Products
  • Export Contact Lenses
  • Technology Transfer Support
  • Local OEM Support

Material Supply Business

Overview
Supplies high-quality materials for manufacturing processes to support stable production.
Competitiveness
Rigorous material procurement capabilities
Customers
  • Raw Material Manufacturers
  • Processors
  • New Material Developers
Products
  • Polymer Materials
  • Manufacturing Molds
  • Additives

Product Maintenance & After-Sales Service

Overview
Provides maintenance services to enhance user satisfaction.
Competitiveness
Rapid customer response capabilities
Customers
  • Retailers
  • End Users
  • Ophthalmology Clinics
Products
  • Product Complaint Handling
  • Regular Maintenance
  • Technical Consultations

Training & Education Business

Overview
Offers education programs on product knowledge and usage for stakeholders.
Competitiveness
Specialized and practical training content
Customers
  • Medical Professionals
  • Sales Agent Staff
  • User Education Institutions
Products
  • Product Operation Training
  • Safe Usage Guidance
  • Sales Promotion Education

Technology Licensing Business

Overview
Supports other companies' manufacturing through licensing of proprietary technologies.
Competitiveness
Differentiation based on patented technologies
Customers
  • Medical Device Manufacturers
  • Overseas Partners
Products
  • Manufacturing Method Licenses
  • Manufacturing Technology Provision

New Product Development Business

Overview
Advances new product planning and prototyping through R&D.
Competitiveness
Product design aligned with market needs
Customers
  • Market Research Firms
  • Product Development Partners
Products
  • Next-Generation Contact Lenses
  • Vision Improvement Products

Safety & Quality Management Business

Overview
Operates management systems to ensure high-quality product delivery.
Competitiveness
Strict adherence to international standards
Customers
  • Internal Staff
  • Retailers
  • Regulatory Authorities
Products
  • Product Inspections
  • Quality Management
  • Standards Compliance Systems

Marketing & Promotion Support

Overview
Support services aimed at customer acquisition and product awareness.
Competitiveness
Effective strategies based on analysis
Customers
  • Sales Agents
  • Brand Owners
Products
  • Promotion Planning
  • Customer Data Analysis
  • Sales Promotion Tools

Logistics & Delivery Services

Overview
Manages rapid and safe product distribution.
Competitiveness
Efficient supply chain construction
Customers
  • Retail Stores
  • Mail-Order Operators
Products
  • Product Packaging
  • Rapid Delivery
  • Inventory Management

Competitive Advantage

Strengths

  • Advanced manufacturing technology (spin cast and cast mold)
  • Diverse product portfolio including OEM manufacturing
  • Business foundation expansion including subsidiaries
  • Strengthened direct sales via mail-order business
  • Convenient location of head office in central Tokyo
  • Solid financial position relative to capital size
  • Established presence in domestic contact lens market
  • Focus on technological innovation and safety
  • Secured multiple sales channels
  • Increased customer touchpoints through online sales
  • Building long-term brand value
  • Rapid customer responsiveness

Competitive Advantages

  • High-quality OEM manufacturing technology commissioned by numerous brands
  • Low-cost, high-performance lenses via spin cast method
  • Enhanced synergy between subsidiaries and mail-order business
  • In-house control of value chain from manufacturing to direct sales
  • Excellent access and information gathering from Tokyo base
  • Product design emphasizing safety and efficacy
  • Flexible response to market needs via diverse sales channels
  • Product lineup catering to varied customer needs
  • Stable revenue from OEM business
  • Manufacturing cost reductions through latest methods
  • Ongoing investments in quality control and technology development
  • Market share expansion through strong partnerships
  • Enhanced customer reach via online sales
  • Product development aligned with societal needs
  • Patents held for spin cast technology

Threats

  • Intense competition from major domestic and international firms
  • Intensified price competition from new entrants
  • Political and economic risks at overseas manufacturing sites
  • Increased product development costs from stricter regulations
  • Risk of substitute products from new technologies
  • Burden of meeting heightened consumer safety awareness
  • Fluctuations in raw material prices
  • Earnings impact from exchange rate volatility
  • Uncertain demand trends in emerging markets
  • Risk of technology leakage
  • Challenges in maintaining customer service quality for mail-order
  • Decline in competitiveness from delays in new product launches

Innovations

2021: Made Generic Corporation a Wholly-Owned Subsidiary

Overview
Strengthened manufacturing capacity and product lineup through subsidiary acquisition, advancing mail-order business expansion.
Impact
Business foundation expansion and improved competitiveness in mail-order market

2025: Scheduled Acquisition of 'Mew Contact' Mail-Order Site Business

Overview
Plans to acquire color contact mail-order business from Fluence for expansion.
Impact
Strengthened mail-order channels and expected sales growth

2022: Introduced Production Efficiency Technology for Spin Cast Method

Overview
Improved production efficiency and quality through new manufacturing equipment.
Impact
Reduced production costs and stabilized quality

2023: Introduced New Materials for Enhanced Safety

Overview
Adopted new materials to improve eye safety and upgraded products.
Impact
Improved product safety and market evaluation

2024: Revamped Online Sales Platform

Overview
Significantly improved user interface of mail-order site.
Impact
Enhanced customer convenience and sales growth

2020: Developed New Color Contact Lens Designs

Overview
Added trend-reflecting colors and designs to strengthen product appeal.
Impact
Differentiation from competitors and customer acquisition

2022: Advanced Digitalization of Quality Management System

Overview
Digitalized manufacturing quality inspections to improve accuracy.
Impact
Reduced defect rates and streamlined audits

2024: Developed Low-Environmental-Impact Packaging

Overview
Adopted recyclable materials for product packaging.
Impact
Strengthened sustainability and improved consumer perception

2023: Product Improvements Using Customer Feedback Analysis

Overview
Utilized customer data to enhance comfort and reduce issues.
Impact
Improved customer satisfaction and repeat purchase rates

2021: Strengthened Collaboration with Overseas Manufacturing Bases

Overview
Enhanced overseas production management for shorter lead times and stable quality.
Impact
Improved international competitiveness and cost reductions

Sustainability

  • Reduced waste and increased recycling rates in manufacturing processes
  • Active adoption of eco-friendly packaging
  • Strengthened environmental standards compliance at overseas sites
  • Promotion of switch to safer materials
  • Environmental awareness activities in collaboration with local communities
  • Phased introduction of energy-saving equipment
  • Promotion of reduced environmental impact across supply chain
  • Employee environmental awareness training programs
  • Recycling promotion campaigns
  • Reduced plastic usage in product packaging
  • Stricter standards for sustainable material procurement
  • Enhanced promotion of eco-friendly products to customers