Chest

What Chest does

Chest (チェスト株式会社) is a Japanese specialized respiratory medical device manufacturer founded in 1965 in Bunkyo, Tokyo, with 60+ years of continuous operation. The company operates three integrated business divisions: respiratory function testing (spirometry, oscillometry, FeNO measurement, airway hyperresponsiveness testing), sleep medicine (polysomnography, CPAP/BiPAP, portable sleep apnea monitors), and home mechanical ventilation (ventilators, MIE devices, oxygen concentrators, high-flow therapy). Chest develops proprietary products including MostGraph (oscillometry-based respiratory resistance measurement), Asthograph (world's first airway hyperresponsiveness device, 1978), CHESTAC comprehensive testing systems (Japan's first, 1976), NIOX VERO exhaled NO device (Japan's first approved for medical use, 2013), and Apno Monitor (Japan's first portable SAS screening device, 1986, whose product name became a generic term in Japan). In parallel, Chest distributes imported products from Breas (Vivo ventilators, since 2005), Löwenstein (prisma series), Embla (PSG), Murata Manufacturing (CPAP MX, since 2023), and Boston Scientific (Alair Bronchial Thermoplasty, since 2019).

The business model is primarily hardware sales of medical devices to Japanese hospitals, clinics, and sleep/respiratory centers through direct field sales organized by division, supplemented by recurring revenue from CPAP and sleep device rentals. The company also functions as an import/export gateway, distributing Chest-developed products to 60+ countries internationally and importing world-class respiratory products for the Japan market. The company holds ISO 13485 (since 2005) and ISO 9002 (since 1998) certifications, multiple PMDA medical device approvals, and operates from a Tokyo headquarters (Bunkyo, 2014), a rebuilt manufacturing and R&D center in Miyagi (2018), and a logistics distribution center in Ibaraki (2017), with nationwide Ventilator Centers and SAS Centers for service. The company is family-owned and operated, with Hiroaki Hoki as President and CEO since July 2021 and founder-generation Hideaki Hoki as Chairman.

Name

Chest

Legal name

チェスト株式会社

Website

https://chest-mi.co.jp

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

Chest (チェスト株式会社) is a Tokyo-based Japanese medical device manufacturer specializing in respiratory care, operating across respiratory function testing, sleep medicine, and home mechanical ventilation. It serves hospitals, clinics, sleep centers, and homecare patients in Japan and exports to 60+ countries worldwide.

Ownership category

akta.pro rank

Product category

Respiratory Medical Devices

NAICS

Surgical Appliance and Supplies Manufacturing (339113)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Respiratory Monitoring & Oximetry (Capnography, Pulse Oximeters, Respiratory Rate) (HLAHAGAI)

akta.pro secondary industries

Ventilators & Mechanical Ventilation Systems (ICU/Transport/Home) (HLAHAGAC), Oxygen Therapy Systems (Concentrators, Cylinders, Liquid O2, HFNC) (HLAHAGAD), Chest Physiotherapy & Airway Clearance Devices (PEP, Oscillatory PEP, HFCWO, Cough Assist) (HLAHAGAJ)

Keywords

• Respiratory medical devices
• Respiratory function testing
• Sleep medicine equipment
• Home mechanical ventilation
• CPAP therapy devices

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Medical Device Sales (Respiratory Function Testing, Sleep Medicine, Home Mechanical Ventilation): Sale of respiratory medical devices including spirometers, polysomnography equipment, CPAP devices, ventilators, and accessories to healthcare institutions. Products are sold directly through the company's sales offices and through distributor relationships.
2. Device Rental (CPAP and Sleep Disorder Devices): Rental program for sleep evaluation devices and CPAP treatment devices for patients, supported by nationwide SAS centers.
3. Overseas Business (Export and Import): Export of Chest products to over 60 countries worldwide, and import/distribution of world-class respiratory products into Japan through the International Business Division.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Chest (チェスト株式会社) is a Japanese medical device manufacturer specializing in respiratory medical equipment across three business divisions: Respiratory Function Testing, Sleep Medicine, and Home Mechanical Ventilation. The company designs, manufactures, and sells diagnostic devices (spirometers, FeNO analyzers, oscillometry systems, polysomnography equipment) and therapeutic devices (CPAP/BiPAP machines, ventilators, oxygen concentrators, MIE devices) to healthcare institutions, hospitals, clinics, and home respiratory therapy patients primarily in Japan and 60+ countries internationally.

Product overview

Chest (チェスト株式会社) is a Japanese medical device manufacturer specializing in respiratory medicine, with three core business divisions: Respiratory Function Testing (呼吸機能検査), Sleep Medicine (睡眠医療), and Home Mechanical Ventilation (在宅人工呼吸療法). The company distributes its own developed products across three product lines spanning diagnostic testing equipment (spirometers, FeNO analyzers, respiratory resistance measurement systems like MostGraph, airway hyperresponsiveness testers, nasal patency devices), sleep evaluation and treatment devices (polysomnography systems, CPAP/BiPAP devices, portable sleep apnea monitors), and home respiratory therapy equipment (ventilators including the Vivo series, LUISA, prismaVENT, oxygen concentrators, MIE devices). The portfolio includes imported products from partner manufacturers (Breas/Vivo, Löwenstein/prisma, Embla PSG, Murata CPAP, Alair BT from Boston Scientific) alongside in-house developed products like MostGraph, CHESTAC, NIOX VERO, and Dr. Oxygen. The company operates nationwide through specialized business divisions and ventilator centers, with overseas operations distributing products to over 60 countries.

Differentiator

Problem solved

Functional benefit

Brands

• MostGraph: 総合呼吸抵抗測定装置シリーズ。3Dカラーグラフィック表示で呼吸抵抗の周波数依存性を測定する自社開発製品ライン。
• アプノモニタ
• ベンチレータセンター
• SASセンター

Quantifiable outcome

• MostGraph provides real-time measurement at 0.25-second intervals for respiratory resistance and reactance
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Three partnerships are on record, tiered core.

• Murata Manufacturing (村田製作所)coreTechnology or Integration · 1 May 2023In May 2023, Chest began handling the 'Murata CPAP MX' from Murata Manufacturing. This partnership expands Chest's CPAP product portfolio with a compact, dual-unit design (main unit + humidifier base) featuring wireless communication for remote monitoring, 3-mode Auto CPAP, and high silent operation.
• Boston Scientific JapancoreChannel Partner/ Reseller/ Distributor · 1 February 2019In February 2019, Chest succeeded the sales of the 'Alair Bronchial Thermoplasty' system from Boston Scientific Japan. This treatment system addresses severe asthma patients (18 years and older) who cannot control symptoms with high-dose inhaled corticosteroids and long-acting beta-agonists, using radiofrequency energy to reduce airway smooth muscle mass.
• Breas (Sweden)coreChannel Partner/ Reseller/ Distributor · 1 January 2005Since 2005, Chest has served as the exclusive sales agent in Japan for Breas (Sweden) ventilators, specifically the Vivo series of general-purpose ventilators. This partnership has enabled Chest to expand its home mechanical ventilation business and provide portable ventilators to patients across Japan.

Scale indicators5 records

Recent moves17 records

Expansion highlights7 records

Direct peers

• Nihon Kohden: Japan's leading domestic medical device manufacturer with strong presence in pulmonary diagnostics, patient monitoring, and sleep/respiratory care. Comparable as a Japan-headquartered specialist serving hospitals with diagnostic and therapeutic respiratory equipment.
• Löwenstein Medical: German manufacturer of prisma-series CPAP/BiPAP devices and prismaVENT ventilators, distributed by Chest in Japan. Direct peer in sleep and ventilation therapy, with proprietary products occupying the same shelf space as Chest's portfolio.
• Breas Medical: Swedish manufacturer of Vivo series home and portable mechanical ventilators, exclusively distributed by Chest in Japan since 2005. Direct peer in portable/home ventilation therapy with overlapping product positioning.
• Hamilton Medical: Swiss specialist in mechanical ventilation (ICU, transport, home) and high-flow therapy. Comparable as a mid-sized European respiratory device specialist competing with Chest in the ventilator and high-flow segments.
• MGC Diagnostics: US-based specialist in pulmonary function testing equipment (spirometry, gas diffusion, body plethysmography). Direct peer to Chest's respiratory function testing division (CHESTAC, MostGraph, HI-801) targeting the same pulmonology and PFT lab customers.

Broad incumbents

• ResMed: Global leader in CPAP, BiPAP, and sleep-disordered breathing devices with established presence in Japan. Comparable as a sleep and respiratory therapy device specialist competing for the same hospital and home-care customers.
• Philips Respironics: Major global player in sleep apnea (CPAP/BiPAP), hospital ventilation, and respiratory care. Comparable as a broad incumbent offering overlapping CPAP, BiPAP, and hospital-to-home ventilator portfolios that Chest distributes parallel products to.
• Fisher & Paykel Healthcare: Global respiratory care company specializing in humidification, high-flow nasal therapy, and CPAP interfaces. Comparable in the high-flow therapy and humidifier categories where Chest sells the CF10 heated humidifier.

Emerging players

• NIOX Group: UK-based specialist in fractional exhaled nitric oxide (FeNO) measurement, whose NIOX VERO device is distributed by Chest in Japan. Comparable niche specialist in respiratory inflammation diagnostics serving asthma specialists.

Regional players

• Fukuda Sangyo: Japanese medical device company with respiratory diagnostics, ECG, and patient monitoring offerings primarily serving the domestic market. Comparable Japan-headquartered regional specialist competing with Chest for hospital pulmonary function testing and cardiopulmonary diagnostic budgets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCJ8bN-5R1-Mz6Z1aG-k4Rvw
• Facebookfacebook.com/ChestVentiDiv
• Instagraminstagram.com/chest.venti.div.7252

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chest