Let me start by explaining the financial results for the second quarter, and I will present the executive summary. CFO Yamaguchi will explain the financial results summary and the annual focus for this fiscal year. Here, the financial highlights for the second quarter: revenue was JPY 173.9 billion, and revenue increased by JPY 7 billion from the same period last year due to the favorable impact of foreign exchange and contribution from the electronic medical record-related business, and also, JPY 5 billion increased year-on-year regarding the operating profit, JPY 9.2 billion, higher income from LSI Medience, a healthcare IT solution and pathology business, as well as a decrease in one-time expenses incurred in the previous year. Lower interest expense compared to the previous year and better FX valuation gain and loss pushed up the profit attributable to owners of the parent for JPY 6.6 billion- JPY 4.1 billion.
Although the results of the second quarter exceeded the initial plan, we have decided to keep the current level of the forecast. For the full year, we forecast revenue of JPY 360 billion, operating profit of JPY 19.1 billion, profit attributable to owners of the parent JPY 10.3 billion, and a cash basis JPY 17.5 billion. No change in the foreign exchange assumption at this time. Dividend will remain unchanged for both the interim and year-end, and JPY 21, no change. However, in the process of reviewing the Mid-term Management Plan this time, we have changed the dividend policy. Details will be explained in the Mid-term Management Plan presentation later. We have changed our conventional policy to determine the payout ratio by the cash-based profit to reflect the overall performance, including consolidated business results and the financial conditions. We will continue to enhance the shareholders' returns through the dividend in principle.
As we explained in the previous page, for the current fiscal year, the already announced annual dividend projection of JPY 42 remains unchanged. Talk about the assumption for the operating profit, and the bar graph on the left side shows the quarterly balance of the operating profit of the initial plan plus actual result. Throughout the second quarter, due to the seasonality, operating profit tends to be higher in the second half of each year than the first half. In this second half of this current year, we expect the equipment market to recover mainly in the U.S., and we also expect the launch of several new products. Therefore, we have planned that operating profit will be even more biased towards the second half of the year. As you can see in the graph, up until the second quarter, the operating profit is overperforming the initial plan.
But considering there are some risks for market recovery and the new product sales expansion, we are maintaining the current full-year forecast at this moment. The main points for achieving the full-year forecast from the third quarter onward are listed on the right side of the page. CGM launched 365-day sensors on schedule. Key is the sales expansion from the second half of the year. LSI Medience will work to improve profitability through cost reduction and other measures while continuing to minimize the impact from the inappropriate quality management. And Wemex continues to capture demand for the e-prescriptions, which was grown in the second quarter. And in the diagnostics and the life science area, the U.S. and the European recovery is slower than expected. But Live Cell, and because of the Live Cell Metabolic Analyzer and the expertise and Biomedical, we are hoping for the sales expansion.
Diagnostics will be strengthening the PATHFAST, especially in the United States. Next, I'd like to explain the progress regarding CGM. On September 17, Eversense 365 received official approval from U.S. FDA and launched in October in the U.S. Eversense 365 is the first product in the world to offer continuous use for one year compared to traditional 10- to 14-day CGMs and 180-day sensors. In addition, calibration required once a day for the conventional 180-day sensor is reduced to once a week after the first 13 days of use, which can significantly reduce the burden on the user, and since the start of the promotion, the number of inquiries has grown more than double, indicating the high level of interest of the market.
The first patient started using the product last month at Mercy, our collaborative partner and major hospital group in the U.S., which specializes in diabetes. We are also negotiating with the partners with the several pump manufacturers for the development of an AID system for the future enhancement of the convenience. That's all from me. Then I'd like to ask CFO Yamaguchi-san.
Yes. So for me, I will explain the overview of the second quarter results for the fiscal year ending March 2025, and then explain the full-year performance forecast. However, since there have been no changes to the performance forecast, I will keep it brief. First, an overview of our consolidated financial results for the second quarter. Compared to the same period last year, sales increased and profits increased in all indicators. We will explain the sales and operating profit situation for each business in more detail later. Profit before tax increased JPY 10.4 billion year-on-year to JPY 7.4 billion. In addition to the increase in operating profit, the main factor was a decrease in financial expenses. There are two main reasons for the decrease in financial expense. First, interest paid on loans from financial institutions decreased by JPY 0.8 billion, mainly in the first quarter. Second, foreign exchange gains and losses.
The valuation gains and losses from foreign exchange improved, mainly for foreign currency-denominated loans from our subsidiaries. In the same period of the previous year, the foreign exchange loss was JPY 3.8 billion. In the first quarter of this fiscal year, the valuation loss was JPY 3.3 billion, but due to the appreciation of yen in the second quarter, the valuation gain for the first half of the year was JPY 1.2 billion. The reason for the valuation gains and losses from foreign exchange are also described in Appendix 27 of this financial results presentation, so please refer to it as necessary. Profit attributable to owners of the parent increased by JPY 6.6 billion year-on-year to JPY 4.1 billion. EBITDA increased by JPY 3.9 billion year-on-year.
The difference with the JPY 5.0 billion increase in operating profit is due to the impairment loss in the pathology business in the same period of the previous year and the increase in amortization expenses due to M&A and the impact of foreign exchange. Adjusted EBITDA, which adjusts for one-time income and expenses, increased by JPY 2.2 billion. The increase and decrease in adjustment items we will explain later. The exchange rates applied to the cumulative P&L for the second quarter were JPY 160 to the euro and JPY 153 to the US Dollar, both were significantly weaker than the same period of the previous year. So page 11 shows quarterly trends in sales and operating profit. As our CEO explained earlier, due to the nature of business, both sales and operating profit tend to grow towards the second half of the fiscal year.
In the second quarter, both sales and operating profit exceeded those of the first quarter. In addition to the impact of increased sales, there was a favorable impact from cost control and product mix, which led to a significant improvement in the operating profit margin. In addition, sales and profits increased compared to the same period last year. So page 12 explains sales by segment and business. We have changed the breakdown of our segments from this fiscal year. Please refer to the diagram on page 28 of the appendix for details of these changes. All figures for the previous fiscal year in this document are reclassified figures, and the increase or decrease compared to the same period last year is based on the reclassified figures.
Diabetes management sales for the second quarter were in line with the same period last year but were down 7.5%, excluding the impact of foreign exchange rates. Healthcare solutions increased 10% year-on-year to JPY 61.5 billion. In healthcare IT solutions, sales increased 26% year-on-year due to the effect of acquiring the electronic medical record business from FUJIFILM Healthcare Systems in the third quarter of the previous fiscal year, as well as strong demand for electronic prescriptions. Diagnostics and life science sales increased 2.5% year-on-year to JPY 62.6 billion but decreased 3.5%, excluding the impact of foreign exchange rates. Strong performance in the pathology business was not enough to offset the decrease in sales in the biomedical business. We will provide a detailed overview of the status of each segment here later. The bar chart on page 13 shows the breakdown of the year-on-year changes of the revenue and operating profit.
above graph shows the revenue, excluding the favorable impact of JPY 6.9 billion from the foreign exchange. Revenue grew slightly year-on-year. The increase in revenue due to the demand for electronic prescription in healthcare IT solutions, the effect of M&A and strong sales of the consumable in the pathology business offset the impact of the shrinking BGM market in the developed countries for Diabetes Management and the impact of the sharp market conditions in the biomedical business. The graph below shows the breakdown of the changes in operating profit, and all segments have shown the increase year-on-year. The detail I explained for each segment in the following pages. The foreign exchange impact on the operating profit was negative JPY 0.4 billion, although we expect the yen's depreciation to have a positive impact on the operating profit for the full year due to the nature of our business.
Both revenue and profit tend to be biased towards the second half of the year, and we plan for these characteristics to be more prominent in this fiscal year. In the first half, the increase of the overseas expense due to the yen depreciation was higher than the positive impact of the revenue in the second quarter. The effect's impact on the operating profit was negative. Now I'd like to give you the overview of the revenue and operating profit by segment. The Diabetes Management revenue was flat year-on-year, and operating profit increased 14.8%. BGM has increased market share in Europe and other reasons, and the impact of the termination of the sales collaboration in the U.S. is gradually diminishing. However, the impact of the ongoing market in developed countries and the shift to the lower channel is continuing.
CGM sales increased due to the increase of the number of users, excluding the effect of foreign exchange. Revenue in the segment from the same period of the previous year. Operating margin improved by 1.8%, 13.2%. The operating profit increased mainly due to the decrease of JPY 2.2 billion in restructuring costs for BGM business recorded in the same period last year, despite lower profit margin due to the deteriorated sales channel mix and the increase of the expenses. Also, the healthcare business, the revenue increased 10% to JPY 61.5 billion. LSI Medience increased due to the contract sales. GenMineTOP cancer genome profiling system test launched in the second quarter benefited, and also the revenue increased in the general testing offset the COVID-related testing.
Healthcare IT solution made progress in capturing demand for electronic prescription in the second quarter, compensating for the temporary decline in the demand of the same period last year for that mandatory online eligibility system. Revenue increased JPY 5 billion, and the also operating profit margin improved 4.2% to 5.9%, and the operating profit increased by JPY 2.7 billion due to improvement of LSI Medience profit on higher revenue and cost reduction, as well as a higher demand for the high-budget electronic prescription healthcare IT solutions. Diagnostics and Health Life Science revenue increased by 2.5%. Pathology business was affected by the market condition in China, but excluding the good favorable impact from the effects, there was an increase. Biomedical, despite the favorable impact of the foreign exchange rate, decline of the capital expenditure, mainly in Japan and Asia, pushed down both revenue and operating profit year-on-year.
The diagnostics business was affected by the decline in sales of electronic drug injectors, which were stronger in the previous year but was flat year-on-year due to the one-time revenue from the conclusion of the distribution agreement, and operating profit was affected by one-time gains and losses. First, in the same period last year, there was a JPY 2.5 billion of the gain of the sales of an affiliate, while there was a JPY 2.1 billion of impairment loss and JPY 1.1 billion of restructuring charges. In this current period, one-time gain is JPY 0.6 billion was recorded. Adjusted EBITDA, which excludes the impact of the one-time revenue cost, is shown on the lower right-hand corner and increased by JPY 700 million year-on-year.
In the pathology business, in addition to the impact increase, revenue and profit improvement due to the cost reduction, such as lower transportation costs compared to the low profit, was in biomedical and diagnostics businesses. Page 17 shows revenue by region. In Japan, revenue increased 5.4% year-on-year, mainly due to the decline in revenue in the biomedical and diagnostics businesses, which was offset by demand for electronic prescriptions and the effects of M&A. In Europe and North America, the impact of the shrinking BGM market and the end of revenue collaboration continued, but both regions saw sales increase year-on-year due to the favorable impact of exchange rates and the recovery of the pathology business. In other regions, sales revenue decreased due to the stagnation of Asian markets, mainly China. Page 18 explains the adjustments from operating profit to Adjusted EBITDA in the table at the top.
In terms of adjustments from operating profit to EBITDA, there was an impairment loss of JPY 2.1 billion in the pathology business of Diagnostic Life Sciences in the same period last year, but there are no significant adjustments this fiscal year. In terms of the adjustments from EBITDA to adjusted EBITDA in the same period of the previous fiscal year, one-time expenses related to reconstruction were JPY 2.2 billion in Diabetes Management and JPY 1.1 billion in Diagnostic Life Sciences. In addition, there was a one-time gain of JPY 2.5 billion on the sale of an affiliate. In the second quarter of this fiscal year, a one-time gain of JPY 600 million was recorded in Diagnostic Life Sciences. Next is a consolidated balance sheet. As of the end of the second quarter, there have been no major changes from the end of the previous fiscal year.
A brief explanation of the main assets and liabilities. Goodwill was JPY 202.6 billion, a decrease of JPY 6.2 billion from the end of the previous fiscal year. This is due to the impact of exchange rates. Total interest-bearing debt was JPY 268.1 billion, down JPY 16.9 billion. In addition to a decrease of JPY 15 billion due to the repayments, there was a decrease due to exchange rates. Due to the decrease in total interest-bearing debt and the increase in adjusted EBITDA, the adjusted EBITDA ratio of total interest-bearing debt was 5.2x , a decrease from the end of the previous fiscal year. The factors behind the increase and decrease in cash and deposits will be briefly explained on the next cash flow page. In the second quarter, cash and deposits decreased by JPY 14.1 billion compared to the end of the previous fiscal year.
While operating cash flow was JPY 13.8 billion, capital investment expenditures, which were the same as in previous years, were JPY 5.9 billion, and financial cash flow, including repayment of loans and lease liabilities and dividend payments, was minus JPY 20.9 billion. This concludes our explanation of the results. Next, I'll explain the outlook for the full year. Currently, we are keeping our exchange rate assumptions unchanged and maintaining the full-year outlook and dividend forecast announced at the beginning of the fiscal year. The following pages will be a reprint of the content announced in May, so we are not explaining here. If you have any questions, we'll answer them in the Q&A session. That's all for me.