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4543.T

TERUMO CORPORATION

プライム · 精密機器 · 電機・精密 · JP

JPY 2,467.50
−0.06%
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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)
Earnings call summaryRead the full call →

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