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Terumo (4543) investor relations material
Terumo Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record first-half revenue of JPY 534.9 billion, driven by strong North American and global demand, effective pricing, and favorable business environment.
Adjusted operating profit and profit for the period reached record highs, outpacing revenue growth due to global pricing, cost control, and operational efficiency.
Full-year guidance for revenue and adjusted operating profit was revised upward, reflecting robust fundamentals, yen depreciation, and favorable FX assumptions.
Operating profit guidance was revised downward due to acquisition-related, impairment, and one-time portfolio review expenses.
Major acquisitions, including OrganOx and the Leverkusen plant, are expected to drive future growth and expand business segments.
Financial highlights
First-half revenue rose 5.2% year-over-year to JPY 534.9 billion, with 8% local currency growth in North America and all-time highs in revenue and profits.
Adjusted operating profit reached JPY 114.4 billion, up 10% year-over-year; operating profit was JPY 101.0 billion, up 15.1% year-over-year.
Gross margin improved to 54.7% for the period.
Free cash flow for FY25 Q2 YTD was JPY 31.0 billion, up 20% year-over-year.
Profit growth was driven by pricing, cost management, and strong segment performance, despite negative FX and tariff impacts.
Outlook and guidance
Full-year revenue guidance revised upward to JPY 1,108.0 billion (+6.9% YoY), and adjusted operating profit to JPY 221.5 billion (+8.9% YoY).
Operating profit guidance revised downward to JPY 181.5 billion due to M&A and one-time costs.
Full-year profit for the year now expected at JPY 136.0 billion, a 16% increase year-over-year.
OrganOx acquisition to contribute JPY 9 billion revenue and JPY 1.3 billion adjusted operating profit over five months.
Temporary costs from strategic initiatives, accretion, and portfolio optimization included in revised guidance.
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