Here are the 10-K annual reports from SBC Medical Group Holdings Incorporated Warrants (SBCWW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SBCWW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SBCWW filings page.
SBC Medical Group Holdings filed Amendment No. 1 to its 2025 annual report to add detailed Part III disclosures on directors, executive compensation, ownership and related‑party transactions. The amendment also updates the April 29, 2026 outstanding share count to 102,576,943 and clarifies that no information is incorporated by reference. It does not change previously reported 2025 financial results.
The filing shows CEO Yoshiyuki Aikawa controls about 81.7% of voting power and received a $12,000,000 base salary in 2025. SBC describes its board committees, controlled‑company status under Nasdaq rules, employment agreements with key executives, and extensive revenue and financing relationships with Japanese medical corporations and other entities related to the CEO and his family.
SBC Medical Group Holdings is a Delaware-based holding company that provides management, franchising and support services to aesthetic clinics, primarily in Japan, with operations in Singapore and Vietnam and strategic investments in the United States.
For the years ended December 31, 2025 and 2024, the company generated revenues of $173,607,489 and $205,415,542, respectively, and reported net income of $51,045,023 and $46,689,892. As of December 31, 2025, retained earnings were $240,448,620.
As of December 31, 2025, SBC supported management services for 237 franchisee treatment centers in Japan and operated 21 centers in Singapore and one in Vietnam. In 2024 and 2025 it completed several transactions, including acquiring 100% of Aesthetic Healthcare Holdings in Singapore, MB career lounge in Japan, and a controlling interest in Waqoo, as well as an approximately 18.2% voting interest in OT Midco in the U.S.
The company’s revenues are diversified across franchising, procurement, management services, rental services and other income streams, with franchising revenue of $45,943,241 and procurement revenue of $56,053,171 in 2025. Key risks include dependence on related-party medical corporations, a need for additional capital, international expansion risks, material weaknesses in internal control over financial reporting as of December 31, 2025, and the possibility that Nasdaq may delist its securities.