Terumo (4543) Q4 2026 earnings summary

Executive summary

• Achieved record revenue of ¥1,131.9 billion in FY2025, marking five consecutive years of record sales, led by strong North American and global demand, especially in TIS and plasma innovation.

• Record high operating profit of ¥176.3 billion and adjusted operating profit of ¥219.4 billion, despite U.S. tariffs and one-time expenses related to acquisitions and business optimization.

• Profit for the year attributable to owners increased 16.2% to ¥135.9 billion.

• Strategic investments and one-time expenses in FY2025 position the company for accelerated growth in FY2026.

• FY2026/2027 guidance targets record highs in revenue, operating profit, and net profit, with strong organic growth and contributions from Terumo Organ Technologies.

Financial highlights

• FY2025 revenue: ¥1,131.9 billion, up 9–9.2% year-over-year (local currency basis).

• Operating profit: ¥176.3 billion (+11.8% YoY); adjusted operating profit: ¥219.4 billion (+7.8% YoY).

• Profit for the year: ¥135.9 billion (+16.2% YoY); basic EPS: ¥92.14.

• One-time expenses in FY2025 totaled ¥48.8 billion (acquisitions, restructuring) and ¥5.5 billion in litigation-related costs.

• Free cash flow: -¥113.2 billion, impacted by M&A and CAPEX.

Outlook and guidance

• FY2026/2027 revenue guidance: ¥1,239.0 billion (+9–9.5% YoY); adjusted operating profit: ¥261.5 billion (+19–19.2% YoY); profit for the year: ¥165.3 billion (+21.6% YoY); basic EPS: ¥112.06.

• Operating profit guidance: ¥224.5 billion (+27% YoY); adjusted operating profit margin: 21.1%.

• Absence of one-time expenses expected to contribute over ¥10 billion to profit growth.

• Dividend to increase to ¥36 per share in FY2026/2027, payout ratio 32%.

• Risks from tariffs, raw material costs, and geopolitical tensions are factored into guidance.