Olympus Corp. · TSE:7733
Olympus — Olympus Corp Ord — Q4 2025 Earnings Presentation
33 slides from Olympus's earnings presentation, May 13, 2025
Slide 1: Consolidated Financial Results for Fiscal Year 2025 and Full-Year Forecasts for Fiscal Year 2026
Consolidated Financial Results for Fiscal Year 2025 and Full-Year Forecasts for Fiscal Year 2026 Olympus Corporation | Director, Representative Executive Officer, Executive Chairperson, President and Chief Executive Officer, and ESG Officer, Yasuo Takeuchi | Executive Officer and CFO, 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: Key Message
Key Message FY2025 Consolidated Financial Results Revenue Adjusted operating profit ¥ 997.3 billion ESD +4 % / +8 % ¥ 188.5 billion +10 % / +25 % Adjusted operating margin +3 % / +8 % TSD +3 % / +7 % 18.9% +2.6 pt % YoY after FX adjustment % YoY including FX Achieved revenue close to the forecast an
Slide 4: FY2026 Consolidated Forecasts
FY2026 Consolidated Forecasts Revenue Adjusted operating profit ¥ 999.0 billion GIS +4 % / +1 % ¥ 175.0 billion +1 % / -7 % Adjusted operating margin +4 % / 0 % SIS +3 % / -1 % 17.5% -1.4 pt % YoY after FX adjustment % YoY including FX Revenue is expected to grow steadily, with 4% growth after FX ad
Slide 5: GIS FY2026 Key Strategy
GIS FY2026 Key Strategy Leading the world in the field of GI endoscopy GIS Gastrointestinal Solutions Division Accelerate global market penetration and revenue growth with EVIS X1 GI endoscopy system Expanding intelligent endoscopy ecosystem with OLYSENSE1 FY2026 Forecasts GI Endoscopy Start Phase
Slide 6: OLYSENSE1: Unlocking the Full Power of Intelligent Endoscopy Ecosystem
OLYSENSE1: Unlocking the Full Power of Intelligent Endoscopy Ecosystem The OLYSENSE platform is a cloud-based digital endoscopy suite designed to enhance clinical and operational performance. Its first CAD/AI products are intended to assist in the detection, characterization, and analysis of lesions
Slide 7: SIS FY2026 Key Strategy
SIS FY2026 Key Strategy Endoscopy/laparoscopy-based ecosystems for SIS Surgical & Interventional Solutions Division procedures in Urology, Respiratory and Surgery Active portfolio management to build leading ecosystems FY2026 Forecasts Scaling major innovations into core markets Revenue growth after
Slide 8: New Launch for Enhancing the Care Pathway for Urinary Stones
New Launch for Enhancing the Care Pathway for Urinary Stones Care Pathway Rising prevalence: for urinary stones up to 13 % Screening Diagnosis Treatment of population1 Est. 40 % Flexible ureteroscope Semi-rigid ureteroscope Stone disposable Mechanical lithotripter High-end video processor
Slide 9: New Launch for Enhancing the Care Pathway for Lung Cancer
New Launch for Enhancing the Care Pathway for Lung Cancer Characterization, Care Pathway Early Detection Treatment for lung cancer Est. 4+ million Diagnosis & Staging patients1 Central/Middle Periphery No. 1cause of cancer Bronchoscope Slim Bronchoscope + Surgery death2 EBUS Scope Ultrasonic Probe O
Slide 10: Introduction of New CEO
Introduction of New CEO Reason for appointment Wealth of exceptional senior leadership experiences in MedTech at Global and Regional level. Track records of successful transformation in R&D, Quality and Regulatory, M&A and organization health. Positive energy to lead to transformative growth.
Slide 11: Fiscal Year 2025 Consolidated Financial Results
Fiscal Year 2025 Consolidated Financial Results 1 Vs February forecasts: Revenue achieved roughly forecast level. Operating profit and Adjusted operating profit exceeded forecasts. 2 Revenue: Driven by North America, which achieved double-digit growth in three focus areas, led by “EVIS X1” GI endosc
Slide 12: Fiscal Year 2025 Endoscopic Solutions Division (ESD)
Fiscal Year 2025 Endoscopic Solutions Division (ESD) FY2025 Forecasts 35%1 55%1 (Billions of yen) FY2024 FY2025 as of Feb. 2025 % of achievement Revenue 586.6 636.1 634.0 100% Revenue Operating profit 104.7 141.4 137.5 103% ¥636.1 Other income and expenses -28.4 -17.4 -14.0 - billion Adjusted operat
Slide 13: Fiscal Year 2025 Therapeutic Solutions Division (TSD)
Fiscal Year 2025 Therapeutic Solutions Division (TSD) 20%1 30%1 (Billions of yen) FY2024 FY2025 FY2025 Forecasts % of achievement as of Feb. 2025 Revenue 337.3 360.7 363.0 99% Revenue Operating profit (loss) -8.5 61.5 54.5 113% ¥360.7 Other income and expenses -65.5 -8.3 -8.5 - billion Adjusted oper
Slide 14: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 1 Cash and cash equivalents: Decreased due mainly to share buyback and repayment of debts. 2 Equity: Decreased slightly due to share buyback and dividend payouts, while an increase in profit was posted as a positive factor. End of Mar. End of Mar. End of
Slide 15: Consolidated Cash Flows
Consolidated Cash Flows 1 FCF: Although FCF decreased significantly YoY due to transfer of Evident in previous fiscal year, Adjusted FCF1 was ¥109.4 billion. 2 Financing CF: Negative ¥211.5 billion due mainly to share buyback, repayment of debts, redemption of corporate bonds, and dividend payouts.
Slide 16: Fiscal Year 2026 Consolidated Forecasts
Fiscal Year 2026 Consolidated Forecasts 1 Revenue: ¥999.0 billion on a par with last fiscal year. Expecting steady growth of 4% vs. previous year after FX adjustment. 2 Adjusted operating profit: ¥175.0 billion, with an adjusted operating margin of 17.5%. Long-term strategic investments, such as R&D
Slide 17: Fiscal Year 2026 Forecasts by Business Segment
Fiscal Year 2026 Forecasts by Business Segment 1 GIS: Both revenue and profit expected to increase after FX adjustment, driven by new products in EVIS X1 in North America, despite an increase in long-term strategic investments, such as R&D expenses for future growth. 2 SIS: Both revenue and profit e
Slide 18: Shareholder Returns
Shareholder Returns Through corporate transformation over the past few years, we have become a pure MedTech player, improving cash generation capabilities. We plan to significantly raise our dividend level, increasing our annual dividend by ¥10/share YoY to ¥30/share. Decided on a share buyback of ¥
Slide 19: We anticipate the business environment to remain uncertain this fiscal year
We anticipate the business environment to remain uncertain this fiscal year, including U.S. tariff polices etc. However, under the new management team that will be in place from June, we will work hard to achieve sustainable business growth. This concludes my presentation. Thank you for your att
Slide 20: Appendix
OLYMPUS +—— Appendix Page 20 OLYM PUS
Slide 21: Changes in Reporting Structure
Changes in Reporting Structure Due to the transfer of our Orthopedic Business, which was included in Other, it is disclosed as a discontinued operation1 from Fiscal Year 2025. Reportable segments2 are now two: ESD and TSD (based on IFRS). FY2024 FY2025 ESD ESD Disclosed as “reportable segments” Cont
Slide 22: Fiscal Year 2025 Factors that Affected Consolidated Adjusted Operating Profit
Fiscal Year 2025 Factors that Affected Consolidated Adjusted Operating Profit Full-year (Apr. to Mar.) (Billions of yen) Change in cost of sales Change in Impact of foreign +5.3 SG&A expenses exchange, etc. +22.2 Decrease in -12.1 expenses for field Foreign exchange Change in sales +21.8 correct
Slide 23: Key Product Catalysts: Gastrointestinal Solutions Division
Key Product Catalysts: Gastrointestinal Solutions Division (As of May. 13, 2025) GIS Key Strategy for FY2026 GI Endoscopy Start Phase 2 of EVIS X1 U.S. launch with differentiated “Extended Depth of Field” EDOF scope line, providing high magnification and broad focus for easier tissue identificatio
Slide 24: Key Product Catalysts: Surgical & Interventional Solutions Division
Key Product Catalysts: Surgical & Interventional Solutions Division (As of May. 13, 2025) SIS Key Strategy for FY2026 Urology Expand leadership in BPH through iTind market development while increasing penetration of the core Visualization and Plasma technologies Drive lithotripsy growth through
Slide 25: Fiscal Year 2025 Quarterly Consolidated Financial Results
Fiscal Year 2025 Quarterly Consolidated Financial Results 1 Revenue: 6% growth mainly in North America, Europe, and China. 2 Operating profit and Adjusted operating profit: increased significantly due to an increase in revenue and absence of expenses for a field corrective action for high-flow insuf
Slide 26: Fiscal Year 2025 Other Income and Expenses
Fiscal Year 2025 Other Income and Expenses (Billions of yen) FY2024 FY2025 Change Other income 3.4 5.2 +1.8 Compensation income in relation to return of usage rights for land and buildings in Shenzhen City, China, by our Chinese subsidiary to the government of Major items Shenzhen City 1.2 (Elimin
Slide 27: Capital Allocation
Capital Allocation Prioritize allocation to business investment Stable and gradual dividend increase Flexible buyback of company shares Business Investment for profitable, organic growth Prioritize Investment Strategic investment for growth opportunities Stable and gradual dividend increase in l
Slide 28: Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit
Fiscal Year 2026 Forecast Factors that Affect Adjusted Consolidated Operating Profit FY2026 Forecasts vs FY2025 Results (Billions of yen) Change in cost of sales -1.9 Change in Change in sales SG&A expenses +27.9 -20.0 Impact of foreign Increase in long-term GIS: Sales expansion strategic invest
Slide 29: Expenditures: Fiscal Year 2025 Actuals and Fiscal Year 2026 Forecasts
Expenditures: Fiscal Year 2025 Actuals and Fiscal Year 2026 Forecasts Full-year results and Forecasts1 (Billions of yen) FY2024 FY2025 FY2026 (Forecasts) (Billions of yen) FY2024 FY2025 R&D expenditures2 (a) 85.3 103.9 120.0 Capitalization of R&D 15.1 14.3 103.9 expenditures (b) R&D expenses in P/L
Slide 30: Foreign Exchange and Sensitivity
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 FY2024 FY2024 FY2024 FY2024 FY2024 FY2025 FY2025 FY2025 FY2025 FY2025 FY2026 (Yen) 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total Forecasts Yen/U.S.dollar 13
Slide 31: Progress of Financial Guidance Indicators (Announced in May 2023)
Progress of Financial Guidance Indicators (Announced in May 2023) FY 2026 TARGET FY 2023 ACTUAL FY 2024 ACTUAL FY 2025 ACTUAL FY 2026 FORECAST Revenue Growth1 ~ 5% CAGR from FY2023 -% +0.4% 3 +1.8% 3 +2.3% 3 EPS Growth2 ~ 8% CAGR from FY2023 -% -13.0% 3 +10.3% 3 +4.8%3 ¥96.25 ¥83.77 ¥117.17 ¥110.75
Slide 32: Acronyms
Acronyms Acronyms Term APAC Asia Pacific BPH Benign Prostatic Hyperplasia EBUS-TBNA Endobronchial Ultrasound-guided Transbronchial Fine Needle Aspiration ERCP Endoscopic Retrograde Cholangio Pancreatography ESD Endoscopic Submucosal Dissection HPB Hepato-Pancreato-Biliary Page 32 No data copy / No d
Slide 33: Web Links for 4Q of Fiscal Year 2025 Consolidated Financial Results (Jan. - Mar.)
Web Links for 4Q of Fiscal Year 2025 Consolidated Financial Results (Jan. - Mar.) Please refer to “Financial Data for FY2025” for 4Q results (Jan.-Mar.) of Fiscal Year 2025. Item URL Consolidated Financial Summary https://www.olympus-global.com/ir/data/brief/pdf/02_data_Q4FY2025_en.pdf#page=2 Inform