IHM

What IHM does

IHM Inc. (株式会社IHM, DBA: IHMG) is a privately held Japanese health products company founded in 1988 and headquartered in Shinagawa-ku, Tokyo. The company operates the traditional Japanese placement medicine (配置薬/haichi-yaku) distribution model, under which medicine chests are installed in customer households at no upfront cost and health advisors (営業スタッフ) visit each home on a recurring cycle — typically every two months — to replenish used products, provide health consultations, recommend products, and collect payment only for items consumed. IHM Group comprises seven regional subsidiary companies (Hokkaido, Yamato, Shutoken, Chubu, Kansai, Nishi-Nihon, Kyushu Medical) operating 54 sales offices that collectively cover all major regions of Japan and have historically served more than 2 million cumulative customers.

The company runs a three-tier revenue model spanning (1) recurring placement medicine and OTC drug sales through home visits (transaction-fee model), (2) one-time sales of proprietary and third-party health supplements, quasi-drugs, and skincare products through the placement medicine channel and the yuwashop.com e-commerce site, and (3) B2B functional food ingredient supply to food and supplement manufacturers under licensing/OEM arrangements. The proprietary ingredient portfolio includes Plant-derived Nano Lactic Acid Bacteria SNK® (Lactiplantibacillus plantarum SNK12, approved as a Japanese Food with Functional Claims for anti-stress effects in February 2023), Nano Lactic Acid Bacteria nEF® for hair beauty, enzyme-decomposed Korean ginseng extract (proprietary decomposition process applied to 4–6 year roots), PlazMax chicken plasmalogen (co-developed with Marudai Food Co., Ltd.'s Central Research Institute for brain health), and patented Paraguayan Palo Azule herbal extract.

IHM's go-to-market is a relationship-driven route sales motion: field health advisors visit assigned geographic territories, with customer acquisition flowing from existing customer referrals, local community outreach, and website inquiries. The company reinforces this with the Yuwa (遊和) health information magazine — published quarterly and delivered to placement medicine customers — plus trade show presence at Food Development Expo and Health Food Ingredients/OEM Expo, a web magazine and recruitment seminar program, and recruitment marketing across all seven group companies. Pricing ranges from ¥280 for low-end OTC items to ¥59,400 for premium Korean ginseng concentrate, with customers paying only for consumed products under the placement model.

Name

IHM

Legal name

株式会社 IHM

Website

https://ihmg.jp

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

IHM Inc. is a privately held Japanese health products company operating the traditional placement medicine (配置薬) route-sales model through 54 nationwide offices across 7 regional group companies, serving individual households with OTC drugs, supplements, and skincare, while also supplying proprietary functional food ingredients (nano lactic acid bacteria, plasmalogen, enzyme-decomposed ginseng) to B2B manufacturers.

Ownership category

akta.pro rank

Product category

Pharmaceutical Distribution Services

NAICS

Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

OTC Medicines & Consumer Health Products Distribution (CRAOAHAB)

akta.pro secondary industries

Cold, Flu & Cough Remedies (HLAIADAB), OTC Pain Relief & Fever (Analgesics, Anti-inflammatory, Topical Pain Relief) (CRADAMAC), Allergy, Sinus & Respiratory (Non-Asthma) (HLAIADAC)

Keywords

• Placement medicine distribution
• OTC pharmaceutical sales
• Health supplements retail
• Functional food ingredients
• Home delivery health products

Headquarters

HQ city

Higashi-shinagawa

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Placement Medicine (配置薬) Sales: The core revenue driver is the traditional Japanese placement medicine model. A medicine box is placed at customer homes in advance at no initial cost. Customers pay only for the products they actually use, billed when sales representatives visit periodically. This recurring visit model creates ongoing customer relationships and repeat purchases. The company also sells a wide range of OTC pharmaceuticals, quasi-drugs, health supplements, and skincare products through this same channel.
2. Health Supplement and OTC Product Sales: Sale of proprietary and third-party health supplements, OTC medicines, skincare, and health devices through the placement medicine sales channel and e-commerce (yuwashop.com). Products include Korean ginseng extracts, nano lactic acid bacteria supplements, plasmalogen products, French maritime pine supplements, and various health formulas.
3. Functional Food Ingredient B2B: IHM supplies functional food ingredients including nano lactic acid bacteria (SNK® and nEF®), enzyme-decomposed Korean ginseng extract, plasmalogen, and Palo Azule to other food and supplement manufacturers, functioning as an OEM/ingredient supplier.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

IHM operates the traditional Japanese placement medicine (配置薬) distribution model, placing medicine chests in households at no upfront cost and replenishing them through recurring home visits by health advisors who also provide health consultations and product recommendations. The company sells OTC pharmaceuticals, quasi-drugs, health supplements, skincare, and proprietary functional food ingredients, including nano lactic acid bacteria strains (SNK®, nEF®), enzyme-decomposed Korean ginseng extract, chicken plasmalogen, and Paloazul, both directly to consumers and as B2B raw-material ingredients to health product manufacturers.

Product overview

IHM is a Japanese pharmaceutical and health product company operating primarily in the placement medicine (配置薬) business, a traditional Japanese system where medicine chests are placed in homes and customers pay only for used products. The company offers a comprehensive portfolio organized into four main categories: (1) Functional Food Ingredients including Plant-derived Nano Lactic Acid Bacteria SNK®, Nano Lactic Acid Bacteria nEF®, Chicken Plasmalogen, Enzyme-decomposed Korean Ginseng Extract, Paloazul, and Oligopin; (2) Pharmaceutical products spanning Category 2, Category 3, and Designated Category 2 medications for cold/flu, digestive health, pain relief, and energy support; (3) Health Supplements including Korean ginseng products, calcium supplements, lactic acid bacteria formulations, amino acids, joint health products, and vinegar-based functional beverages; and (4) Skincare products. The company also publishes the health information magazine 'Yuwa' and provides regular customer visits for medicine inspection and health consultation services through its nationwide network of 54 branches.

Differentiator

Problem solved

Functional benefit

Products and services

• Placement Medicine Service (配置薬サービス) Traditional Japanese placement medicine distribution service: medicine boxes are pre-placed in customer homes at no initial cost; health advisors visit homes roughly every two months to inspect and replenish the medicine box, conduct personalized health consultations, recommend products, and bill only for items actually consumed. Service spans OTC drugs, quasi-drugs, health supplements, and skincare categories.
• Health Supplements (健康補助食品) Health supplement product line including Korean ginseng concentrated liquids and teas, enzyme-decomposed ginseng capsule and jelly products, calcium supplements, plant-derived nano lactic acid bacteria formulations (Mamorina W, Green Juice, Power of Lactic Acid Bacteria), amino acid, glucosamine and collagen joint products, acai berry supplements, GABA vinegar functional drinks, and apple cider vinegar beverages. Distributed to households via placement medicine channel and to consumers via yuwashop.com.
• OTC Pharmaceuticals (医薬品) OTC pharmaceutical portfolio spanning Class 2, Class 3, and Designated Class 2 medications for cold/flu symptoms (Neo Shinji Oral Solution Kakkonto S, Kyufu Gold, Hi-Kaze EV Tablets, Stopchin cough medicine, Jinsen Cold Gold), gastrointestinal conditions (Akadama Stomach Medicine, Yuzan-en, Litomack, Sanrila S), analgesics/antipyretics (Bufferin A, Riza L), and energy tonics (Topgron G, Tokiwa Throat Candy). Distributed to households via placement medicine channel and via yuwashop.com.
• Quasi-drugs (医薬部外品) Quasi-drug products for nutritional supplementation and vitality (Jinsen Fight V Korean ginseng drink, Soares Loach sugar-free throat lozenges with CPC) and bath additives (Herb Relax Sea Two herbal bath salts). Distributed to households via placement medicine channel.
• Functional Food Ingredients (機能性食品原料) — B2B Ingredient Supply B2B functional food ingredient portfolio consisting of six proprietary ingredients supplied to food and supplement manufacturers: Plant-derived Nano Lactic Acid Bacteria SNK® (anti-stress), Nano Lactic Acid Bacteria nEF® (hair/beauty), enzyme-decomposed Korean ginseng extract (enhanced bioavailability from 4-6 year roots), chicken-derived plasmalogen / PlazMax (brain health, co-developed with Marudai Foods), Palo Azul / Paloazul (Paraguayan patented herb for anti-obesity and anti-glycation), and Oligopin. Used as raw-material inputs for finished health products.
• Skincare Products (スキンケア) Skincare line led by the 「美かさね」(Mikasan) all-in-one moisturizing gel cream, available in standard (100g) and premium (30g) tiers, combining the functions of multiple skincare items in a single product. Distributed to households via placement medicine channel and yuwashop.com.
• Yuwa (遊和) Health Information Magazine Proprietary health information publication delivered regularly to placement medicine customers, providing health tips, product information, and wellness guidance. Serves as a customer engagement and retention vehicle. Distributed physically to placement medicine households and online via yuwastyle.com.
• Direct-to-Consumer E-commerce (yuwashop.com) Online shopping platform allowing customers to reorder health supplements, skincare products, and other items directly. Functions as a complementary purchase channel to the placement medicine home-visit model.

Quantifiable outcome

• Over 2 million cumulative customers served historically across placement medicine operations
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core and moderate.

• 丸大食品株式会社 (Marudai Food Co., Ltd.)coreStrategic or Co-development Partner · 1 September 2025IHM collaborates with Marudai Food's Central Research Institute on chicken plasmalogen (プラズマックス/PlazMax) research and product development. Marudai Food conducts and presents joint research on the brain health benefits of chicken breast-derived plasmalogen at trade shows including 食品開発展 and 健食原料・OEM展. The partnership enables IHM to offer a differentiated functional ingredient backed by food science research, while Marudai Food contributes its food technology expertise to the health ingredient space.
• 食品開発展 / 健食原料・OEM展 (Event Organizers)moderateGTM or Marketing Partner · 6 March 2025IHM participates as a presenter and exhibitor at major Japanese health food industry trade shows including 食品開発展 (Food Development Expo) and 健食原料・OEM展 (Health Food Ingredients/OEM Expo). These events serve as platforms to present research on proprietary functional ingredients to food manufacturers and industry professionals, generating B2B leads for ingredient supply partnerships.
• IHM Group Subsidiaries (7 Group Companies)coreOthersIHM operates as the parent/holding entity for 7 group companies covering different geographic regions of Japan: 北海道メトロシステムズ (Hokkaido Medical Systems), やまとMedicinal, 首都圏Medicinal, 中部メトロシステムズ (Chubu Medical Systems), 関西メトロシステムズ (Kansai Medical Systems), 西日本Medicinal (Nishinihon Medical), and 九州Medicinal (Kyushu Medical). These subsidiaries operate the placement medicine sales offices in their respective regions under the unified IHM brand and philosophy.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Kobayashi Pharmaceutical: Japan's leading OTC consumer healthcare company (Nasdaq-listed). Overlaps with IHM on OTC drugs, supplements, and skincare; both sell through Japanese drugstores and direct channels, with similar product categories for cold, GI, and wellness.
• Rohto Pharmaceutical: Major Japanese OTC and skincare player with a portfolio spanning eye care, dermatology, gastrointestinal, and supplements. Comparable to IHM in OTC breadth and Japanese consumer health focus.
• Morishita Jintan: Japanese OTC and supplement maker with a long heritage in digestive and oral care products. Comparable niche OTC portfolio and Japanese distribution profile to IHM.
• Sato Pharmaceutical: Mid-sized Japanese OTC manufacturer focused on family health products (Stona, EVE, Yunker). Comparable mid-tier OTC positioning to IHM's branded pharmaceutical lines.

Emerging players

• Yakult Honsha: Global lactic acid bacteria beverage and probiotic company. Overlaps with IHM specifically in functional lactic acid bacteria (SNK®, nEF®) and digestive health, though operates in dairy beverages rather than supplements.
• Fancl Corporation: Japanese supplement and skincare company selling direct-to-consumer through subscription and online channels. Comparable on the DTC health/beauty positioning and supplement portfolio overlap with IHM's skincare and health supplement lines.

Broad incumbents

• Lion Corporation: Japanese household products and OTC healthcare company (Bufferin, Kadin, etc.). Lion manufactures products that IHM distributes (Bufferin A), and competes in adjacent OTC categories.
• Taisho Pharmaceutical: Large Japanese OTC manufacturer known for Lipovitan energy drinks and Riup hair products. Operates broadly across consumer health where IHM also competes, though at substantially greater scale.
• Daiichi Sankyo Healthcare: OTC subsidiary of Daiichi Sankyo handling consumer healthcare brands. Operates broadly in Japanese OTC distribution and household remedies — overlapping channel positioning with IHM's placement medicine business.

Others

• Asahi Group Holdings (functional food arm): Large Japanese beverage and food conglomerate with functional ingredients and health foods. Relevant as a potential B2B customer for IHM's functional food ingredients (nano lactic acid bacteria, plasmalogen, ginseng extract).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries7 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 IHM