ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Consumer Services

Hikari Heights-Varus Co., Ltd.

Business Summary

Hikari Heights-Varus Co., Ltd. engages in the operation and management of nursing care homes. It operates through the following business divisions: Paid Nursing Home with Long-Term Care, Paid Residential Nursing Home, Elderly Serviced Housing, Day Care, and Short-Term Life Care. The Paid Nursing Home with Long-Term Care business division operates paid nursing homes and provides hygiene, meal, and daily services to the elderly for long-term care. The Paid Residential Nursing Home business division manages paid residential-type nursing homes, where the resident can live and receive external nursing care services. The Elderly Serviced Housing business division offers life support, meal, and long-term care services in a housing project that is paid monthly. The Day Care business division deals with the management of Sapporo Minami Day Service Center, a day service designated home and preventive care facility. It offers bathing and recreational services. The Short-Term Life Care business division handles temporary care services in Hikari Heights Varus Ishiyama, Tsukisamu Park, and Fujino, which are paid nursing homes for the elderly. The company was founded in April 1987 and is headquartered in Sapporo, Japan.

Financial Highlights

Mar 2021 JPYUSD
Gross Profit443.02M4.17M
Operating income124.93M1.17M
Income before tax162.10M1.52M
Net income100.45M0.94M
Diluted EPS48.080.45
Dividends Per Share120.11
Total Assets7,546.74M68.29M
Total liabilities3,570.90M32.31M
Total equity3,975.83M35.98M
Operating cash flow18.17M0.17M
Currency in JPYCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 3,194.17M 3,255.38M 3,387.43M 3,163.14M 3,108.88M
Gross Profit 526.67M 580.56M 675.85M 450.56M 443.02M
Operating income 245.30M 294.22M 362.04M 142.26M 124.93M
Income before tax 315.94M 347.69M 384.58M 179.44M 162.10M
Net income 198.91M 218.72M 238.84M 108.41M 100.45M
EBITDA 310.44M 355.80M 421.89M 196.79M 184.00M
Diluted EPS 95.21 104.69 114.32 51.89 48.08
Dividends Per Share 12 12 12 12 12
Total Assets 7,600.50M 7,509.43M 7,773.78M 7,624.23M 7,546.74M
Total liabilities 4,190.99M 3,905.84M 3,956.36M 3,724.18M 3,570.90M
Total equity 3,409.51M 3,603.57M 3,817.42M 3,900.04M 3,975.83M
Operating cash flow -149.41M -20.84M 333.20M 26.43M 18.17M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 29.49M 29.37M 30.54M 29.09M 29.31M
Gross Profit 4.86M 5.23M 6.09M 4.14M 4.17M
Operating income 2.26M 2.65M 3.26M 1.30M 1.17M
Income before tax 2.91M 3.13M 3.46M 1.65M 1.52M
Net income 1.83M 1.97M 2.15M 0.99M 0.94M
EBITDA 2.86M 3.21M 3.80M 1.81M 1.73M
Diluted EPS 0.87 0.94 1.03 0.47 0.45
Dividends Per Share 0.11 0.10 0.10 0.11 0.11
Total Assets 68.20M 70.61M 70.23M 70.62M 68.29M
Total liabilities 37.61M 36.72M 35.74M 34.49M 32.31M
Total equity 30.59M 33.88M 34.48M 36.12M 35.98M
Operating cash flow -1.37M -0.18M 3.00M 0.24M 0.17M

Valuation Measures

Mar 2021
Operating margin4.01%
Profit margin3.23%

Key executives

  • President & Representative Director: Chieka Mori
  • Manager-Finance & Accounting: Kazunori Maeda
  • Director & Executive Officer: Masako Ohbori
  • Senior Managing Executive Officer: Takahito Yasuda
  • Auditor: Hiroko Wakabayashi


  • FUJII SHINICHI (65.1%)
  • Hoken Kagaku Kenkyujo KK (4.4%)
  • L'attrait Co., Ltd. (3.7%)
  • Iwakura Construction Co., Ltd. (2.0%)
  • Gunei Ltd. (1.5%)
  • MORI CHIEKA (1.1%)
  • Folk Co., Ltd. (1.1%)

Contact Details

  • Website:
  • Address: 11-1-15 Minami 19 Jonishi, Chuo-Ku, Sapporo, 064-0919, Japan
  • Phone: +81.11.520.8668

Related Companies

  • Tonden KK /Hokkaido/Fort St Noah Nursing Home/
  • Sasaki Kensetsu KK /Happine Yamanote Nursing Home Business/


    Last Updated on 26 Nov, 2021

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more