Terumo (4543) Q1 2027 earnings summary

Executive summary

• Achieved record-high quarterly revenue of JPY 311.8 billion, up 19.9% year-over-year, driven by strong global demand, especially in the Americas, and favorable FX rates.

• Operating profit rose 60.1% year-over-year to JPY 89.5 billion, supported by a U.S. tariff refund and one-time settlement income.

• Adjusted operating profit grew 34.7% to JPY 79.6 billion; profit attributable to owners jumped 68.3% to JPY 70.4 billion.

• Full-year profit guidance revised upward to reflect one-time gains, while revenue outlook remains unchanged.

• Comprehensive income soared to JPY 99.6 billion, mainly due to FX translation gains.

Financial highlights

• Revenue increased 19.9% year-over-year to JPY 311.8 billion, with overseas revenue up 24.1% and Japan up 3.7%.

• Operating profit reached JPY 89.5 billion, up 60.1% year-over-year; adjusted operating profit rose 34.7% to JPY 79.6 billion.

• Gross margin improved to 57.3% from 56.0% year-over-year.

• Free cash flow rose 331% year-over-year to JPY 46.2 billion.

• Basic EPS increased to JPY 47.74, up from JPY 28.37.

Outlook and guidance

• Full-year revenue outlook maintained at JPY 1.239 trillion (+9.5% YoY).

• Adjusted operating profit guidance raised to JPY 274.5 billion (+25.1% YoY); OP margin expected at 20.8%.

• Profit attributable to owners forecast at JPY 193.1 billion (+42.1% YoY); EPS guidance at JPY 130.91.

• Upward revision reflects U.S. tariff refund and settlement proceeds.

• Record highs in both revenue and profit expected for FY 2026.