4543.T
プライム · 精密機器 · 電機・精密 · JP
Next report
Analyst consensus
- Next report date
- Nov 5, 2026
- EPS estimate
- JPY 27
- Revenue estimate
- JPY 307.7B
Latest reported
- Last report date
- Aug 7, 2026
- EPS actual
- —
- EPS estimate
- —
- Revenue actual
- —
- Revenue estimate
- —
Track record
Trailing twelve quarters
- EPS beats (12Q)
- —
- EPS misses (12Q)
- —
- EPS in line (12Q)
- —
- Avg surprise (4Q)
- —
- Revenue beats (12Q)
- —
Q3 FY2026 · Feb 13, 2026
AI summary of management’s prepared remarks and analyst Q&A · For informational purposes only, not investment advice
Management highlights
• Strong earnings results exceeding guidance, revenue reached record highs both for quarter and year-to-date, led by North America. • Operating profit and adjusted operating profit reached record highs. • Tariff impact offset by pricing measures and cost control. • R&D expenses decreased slightly due to impairment losses and R&D priority review. • Acquisition of Leverkusen plant and OrganOx included in consolidated results from Q3. • C&V had strong global performance, Pharmaceutical Solutions drove growth with CDMO and overseas projects, Global Blood Solutions saw revenue growth from plasma innovations, OrganOx included in results showing growth. • Restructuring initiatives to optimize workforce overseas expected to save JPY 3 billion annually towards achieving GS26.
Guidance
• Business based on existing operation steadily progressing towards GS26. • Main onetime expenses outlined on Page 18, with structural reforms to improve profitability. • Pricing measures to pass on inflation impacts to continue beyond next financial year. • Restructuring projects in overseas with JPY 1 billion onetime cost in FY '26 expected to have positive impact beyond. • Expect OrganOx to return to expected trajectory in quarter 4. • GS26 to be achieved by meeting financial objectives of double-digit revenue growth, 20% operating profit ratio, and 10% ROIC excluding M&A impact.
Segment performance
Cardiac and Vascular Company: Revenue increased 8% on local currency basis, led by TIS and Terumo Neuro; profit margin improved to 26% but declined year-on-year in Q3 due to foreign exchange. Pharmaceutical Solutions: Drove revenue and profit growth led by domestic CDMO and overseas projects; Hospital Care Solutions and Life Care Solutions had revenue declines but are recovering. Leverkusen plant included in consolidated results from Q3. Global Blood Solutions: Revenue increased significantly driven by plasma innovations; profit increased due to expanded sales of Rika and cost control. Regional performance: Americas had double-digit growth, Europe stable with Pharmaceutical Solutions projects, Japan CDMO and C&V grew, China revenue increased with Terumo Neuro and TIS growth.
Analyst Q&A
Q: On Page 18 amortization, evaluation of inventories and goodwill costs, A: Amortization costs for current fiscal year reevaluated lower than initial expectations, inventory step-up reevaluated under IFRS rules.
Q: About Rika revenue and deployment, A: No late deployment of Rika, proceeding steadily, improving product and promoting to acquire customer take-up.
Q: Projects for next financial year, pricing and restructuring, A: Continuing to pass prices based on inflation, restructuring in overseas with JPY 1 billion onetime cost in FY '26.
Q: Gross profit ratio in quarter 3, impact of tariffs, product mix, A: Tariffs, weakening yen, and OrganOx purchase impacted gross profit ratio.
Q: Rika business, customer base, A: Approach to big potential customers unchanged, expanding with small to medium-sized customers.
Q: OrganOx sales, pace, A: Quarter 3 sales slightly below prediction due to lack of donors, but expected to return to trajectory in quarter 4.
Q: Rika profitability, margin impact, A: Net sales for Rika on plan, margin impact minimized by production adjustment and higher production efficiency.
Q: Impact of CSL changes on Rika, A: No significant impact foreseen on Rika disposables to CSL.
Q: GS26 criteria, A: Need to achieve double-digit revenue growth, 20% operating profit ratio, and 10% ROIC excluding M&A impact.
Reported results against consensus at the time of each report · Surprise is computed from the estimate on record · Data as of Nov 5, 2026