Olympus Corp. · TSE:7733
Olympus — Olympus Corp Ord — Q3 2026 Earnings Presentation
38 slides from Olympus's earnings presentation, Feb 13, 2026
Slide 1: Consolidated Financial Results 3rd Quarter FY2026
Consolidated Financial Results 3rd Quarter FY2026 February 13, 2026 Olympus Corporation | Director, Representative Executive Officer, President and Chief Executive Officer, Bob White | Executive Officer and Chief Financial Officer, Tatsuya Izumi
Slide 2: Disclaimer
Disclaimer ▪ This material contains forward-looking statements that reflect management’s current views, plans, and expectations based on information available at the time of preparation. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, un
Slide 3: Table of contents
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Table of contents CEO 1. Executive Summary CEO 2. Business Topics CFO 3. 3Q of Fiscal Year 2026 Consolidated Financial Results CFO 4. Fiscal Year 2026 Consolidated Forecasts 5. Appendix 3
Slide 4: Where Purpose Meets Performance: Shaping the Future of Endoscopy-Enabled Care
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Where Purpose Meets Performance: Shaping the Future of Endoscopy-Enabled Care OUR PURPOSE Making people’s lives healthier, safer and more fulfilling OUR STRATEGIC PILLARS Innovation-Driven Growth Simplicity Acco
Slide 5: Executive Summary
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Executive Summary 5
Slide 6: 3Q of Consolidated Financial Results
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Executive Summary 3Q of Fiscal Year 2026 Consolidated Financial Results Revenue Adjusted operating profit ¥ 2,610 Oku GIS +2 % + 5 / % ¥ 393 Oku -13 % -9 / % Adjusted operating margin +1 % +4 / % SIS -3 % +1 / %
Slide 7: Business Topics
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Business Topics 7
Slide 8: Further Enhancements to Strengthen our Quality Systems and Operational Resilience
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Further Enhancements to Strengthen our Quality Systems and Operational Resilience FDA inspections at eight facilities in the U.S., Europe, and Japan in late 2025 provide an opportunity to review our operational
Slide 9: Full-Year Forecast Affected by Gross Margin Challenges Under Resolution
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Fiscal Year 2026 Full-Year Forecast Affected by Gross Margin Challenges Under Resolution Revenue Adjusted operating margin Unchanged Low-teens to from the previous forecast including FX mid-teens % 12.7% to 13.9
Slide 10: Strong Regional and Product Drivers Supporting Overall Performance
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Strong Regional and Product Drivers Supporting Overall Performance Europe China Medical Total Medical Total +6% +5% Product drivers Growth drivers ▪ EUS products -18% -18% ▪ Go To Market / 3Q YoY 1Q YoY 2Q YoY 3
Slide 11: Unlocking Near-Term and Strategic Growth in GIS
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Unlocking Near-Term and Strategic Growth in GIS Promising January sales launch of New go-to-market strategy for China Shaping the future of Endoscopy- GORE VIABIL stents underpins improving growth trajectory Ena
Slide 12: SIS Growth Drivers Moving Forward
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results SIS Growth Drivers Moving Forward Growth through single-use (SU) scopes Growth through EBUS solution Completed commercial launch following Expanded successful single-use Launched Peripheral EBUS (BF-UCP190F) suc
Slide 13: 3-4-5% Revenue Growth Plan
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 3-4-5% Revenue Growth Plan ~1pp Growth YoY Innovation-Driven Growth Potential growth Fortify portfolio through focused investments upside through M&A, etc. Key Drivers1 GI Endoscopy GI Endoscopy GI Endoscopy EVI
Slide 14: 100+ bps Margin Improvement YoY
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 100+ bps Margin Improvement YoY Clear Roadmap Driving Structural Margin Expansion Through a Multi-Lever Strategy Early phase Later phase Strengthening the Foundation for Margin Recovery Mid-Term Operating Margin
Slide 15: FY2027 Leadership Team Leading Corporate Value Creation
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results FY2027 Leadership Team Leading Corporate Value Creation Executive Officers Regional Presidents New New New New Bob White Simone Berger Keith John de Csepel Gabriela Kaynor Seiji Hironobu Richard Director, Repres
Slide 16: Consolidated Financial Results Q3 FY2026
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Consolidated Financial Results Q3 FY2026 16
Slide 17: 3Q of Fiscal Year 2026 Consolidated Financial Results
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 3Q of Fiscal Year 2026 Consolidated Financial Results 1 Revenue: Increased by 4% in 3Q, driven by solid performance in Europe, Emerging Markets, and China, with yen depreciation serving as a tailwind. 2 Adjusted
Slide 18: 3Q of Gastrointestinal Solutions Division
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 3Q of Fiscal Year 2026 Gastrointestinal Solutions Division (Billions of yen) FY25 3Q FY25 9 Mos FY26 3Q FY26 9 Mos 50%1 Revenue 171.0 493.4 180.2 487.2 35%1 Operating profit 39.1 116.7 41.7 95.1 Revenue ¥487.2 O
Slide 19: 3Q of Surgical and Interventional Solutions Division
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 3Q of Fiscal Year 2026 Surgical and Interventional Solutions Division 20%1 (Billions of yen) FY25 3Q FY25 9 Mos FY26 3Q FY26 9 Mos 40%1 Revenue 80.1 231.4 80.8 228.0 Revenue Operating profit 5.0 7.3 -6.4 -10.6 ¥
Slide 20: Consolidated Statement of Financial Position
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Consolidated Statement of Financial Position 1 Total assets increased due to foreign exchange effects and an increase in inventories, while cash and cash equivalents decreased as a result of share buyback and di
Slide 21: Consolidated Cash Flows
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Consolidated Cash Flows 1 FCF: Negative ¥8.4 billion due mainly to corporate income tax payment and acquisition of PPE. Adjusted FCF1 was positive ¥23.6 billion. 2 Financing CF: Negative ¥82.3 billion due mainly
Slide 22: Consolidated Forecasts FY2026
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Consolidated Forecasts FY2026 22
Slide 23: Fiscal Year 2026 Consolidated Forecasts
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Fiscal Year 2026 Consolidated Forecasts Revised full-year forecasts to reflect progress through 9 months and the impact of ship-holds in SIS. Considering uncertainties, we are disclosing amounts currently antici
Slide 24: Our Capital Allocation to Drive Growth and Shareholder Value Remains Consistent and Unchanged
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Our Capital Allocation to Drive Growth and Shareholder Value Remains Consistent and Unchanged Prioritize Business ▪ Investment for profitable, organic growth Investment ▪ Strategic investment for growth opportun
Slide 25: OLYMPUS
OLYMPUS
Slide 26: Appendix
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Appendix 26
Slide 27: 9 Mos of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 9 Mos of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit 9 Mos (Apr. to Dec.) (Billions of yen) Change in sales -4.5 ▪ GIS: Decreased due mainly to absence of Change in cost one-tim
Slide 28: 3Q of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 3Q of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit 3Q (Oct. to Dec.) (Billions of yen) Change in sales +0.9 ▪ GIS: Increased, Impact of supported by solid Change in Change in for
Slide 29: Key Product Catalysts: Gastrointestinal Solutions Division
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Key Product Catalysts: Gastrointestinal Solutions Division (As of February 13, 2026) GIS Key Strategy for FY26 GI Endoscopy ▪ Start Phase 2 of EVIS X1 U.S. launch with differentiated “Extended Depth of Field” ED
Slide 30: Key Product Catalysts: Surgical and Interventional Solutions Division
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Key Product Catalysts: Surgical and Interventional Solutions Division (As of February 13, 2026) SIS Key Strategy for FY26 Urology ▪ Expand leadership in BPH through iTind market development while increasing pene
Slide 31: 9 Mos of Fiscal Year 2026 Expenses Related to Elevate
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 9 Mos of Fiscal Year 2026 Expenses Related to “Elevate” (Billions of yen) FY24 FY25 SG&A expenses 8.5 11.1 Other expenses 23.0 19.4 Total 31.5 30.5 (Billions of yen) FY26 1Q FY26 2Q FY26 3Q FY26 3Q total FY26 fo
Slide 32: 9 Mos of Fiscal Year 2026 Consolidated Adjusted Operating Profit
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results 9 Mos of Fiscal Year 2026 Consolidated Adjusted Operating Profit Adjusted operating profit is the amount after deducting “Other income” and “Other expenses” from operating profit. (Billions of yen) FY25 9 Mos FY
Slide 33: Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit (vs. Previous Fiscal Year) (Billions of yen) Amounts Factors FY25 Adjusted operating profit 188.5 ▪ GIS: Expected to increase
Slide 34: Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit (vs. Previous Forecasts) (Billions of yen) Amounts Factors FY26 Adjusted operating profit forecasts as of Nov. 7 157.0 Change
Slide 35: Fiscal Year 2026 Forecasts by Business Segment
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Fiscal Year 2026 Forecasts by Business Segment FY26 forecasts FY26 latest After FX After FX (Billions of yen) vs Nov. 7 FY25 vs FY25 as of Nov. 7 forecasts adjustment adjustment Revenue 679.5 687.0 +1% -1% 674.0
Slide 36: Expenditures: 9 Mos of Fiscal Year 2026 Actuals and Forecasts
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Expenditures: 9 Mos of Fiscal Year 2026 Actuals and Fiscal Year 2026 Forecasts 9 Mos Actuals and Full-year Forecasts (Billions of yen) FY25 9 Mos FY26 9 Mos FY26 (Forecasts) FY26 (Billions of yen) FY25 FY26 fore
Slide 37: Foreign Exchange and Sensitivity
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Foreign Exchange and Sensitivity As a general rule, we use average value for latest month as exchange rates for full-year forecasts. Foreign exchange rate (Yen) FY25 1Q FY25 2Q FY25 3Q FY26 1Q FY26 2Q FY26 3Q FY
Slide 38: Acronyms
Table of Executive Business Financial Forecasts Appendix contents Summary Topics Results Acronyms Acronyms Term APAC Asia Pacific BPH Benign Prostatic Hyperplasia EBUS-TBNA Endobronchial Ultrasound-guided Transbronchial Fine Needle Aspiration EMR Endoscopic Mucosal Resection ERCP Endoscopic Retrogra