Olympus Corp. · TSE:7733
Olympus — Olympus Corp Ord — Q4 2026 Earnings Presentation
38 slides from Olympus's earnings presentation, May 12, 2026
Slide 1: Consolidated Financial Results for FY2026 and Full-Year Guidance for FY2027
Consolidated Financial Results for FY2026 and Full-Year Guidance for FY2027 May 12, 2026 Olympus Corporation | Director, Representative Executive Officer, President and Chief Executive Officer, Bob White | Executive Officer and Chief Financial Officer, Michael Parenti
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, unc
Slide 3: Table of contents
Table of Executive Financial Guidance Appendix contents Summary Results Table of contents CEO 1. Executive Summary CFO 2. Fiscal Year 2026 Consolidated Financial Results CFO 3. Fiscal Year 2027 Consolidated Guidance 4. Appendix 3
Slide 4: Executive Summary
Table of Executive Financial Guidance Appendix contents Summary Results Executive Summary 4
Slide 5: Where Purpose Meets Performance: Shaping the Future of Endoscopy-Enabled Care
Table of Executive Financial Guidance Appendix contents Summary 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 Accountability Lead th
Slide 6: FY2026: Managed Through Disruption
Table of Executive Financial Guidance Appendix contents Summary Results FY2026: Managed Through Disruption FY2027: Accelerating Our Momentum What we said we would do — and did. Called FY2026 a Made deliberate Absorbed ~¥30 billion in Delivered above revised rebuilding year choices to address net imp
Slide 7: Q4 Momentum Validates the Foundation
Table of Executive Financial Guidance Appendix contents Summary Results Q4 Momentum Validates the Foundation Q4 Consolidated Performance ¥295.3B +9% +3% 18.1% -4.1pp Revenue YoY Constant currency Adjusted operating margin YoY Q4 GIS Performance (~70% of consolidated revenue) Q4 SIS Performance (~30%
Slide 8: Q4 GIS Performance Anchored in North America, Europe, and APAC
Table of Executive Financial Guidance Appendix contents Summary Results Q4 GIS Performance Anchored in North America, Europe, and APAC North America, Europe, and APAC China and Japan ~80% +23% +16% ~20% -7% -10% of sales YoY YoY (Constant currency) of sales YoY YoY (Constant currency) All three re
Slide 9: FY2026: Credible Baseline for Future Growth
Table of Executive Financial Guidance Appendix contents Summary Results FY2026: Credible Baseline for Future Growth FY2026 Full Year Results ¥1,010.7B +1% ¥143.3B 14.2% -4.7pp ¥53.5B Revenue YoY Adjusted Operating Profit Adjusted OPM YoY Adjusted Free Cash Flow What Drove Margin Decline Why This is a
Slide 10: Strengthening Quality Culture: Remediation Progressing
Table of Executive Financial Guidance Appendix contents Summary Results Strengthening Quality Culture: Remediation Progressing Remediation FDA Engagement Supply Recovery All 8 inspected facilities progressing Engaging constructively; focused on Some of impacted products back in market systemat
Slide 11: FY2027: Accelerating Our Momentum
Table of Executive Financial Guidance Appendix contents Summary Results FY2027: Accelerating Our Momentum FY2027 Financial Guidance ¥1,055.0B to ¥1,076.0B 15.2% to 16.7% Revenue Adjusted Operating Margin +1.5% to +3.5% +1.0pp to +2.5pp YoY (Constant currency) YoY +4.4% to +6.5% YoY Phasing Margin Im
Slide 12: FY2027: Capital Allocation Priorities
Table of Executive Financial Guidance Appendix contents Summary Results FY2027: Capital Allocation Priorities Capital Allocation Priorities Shareholder Return Framework Strategic Growth Investment Shifting from dividend-centric model to more flexible framework Innovation, GIS capabilities, select
Slide 13: Evolving Our Portfolio: Disciplined Review, Focused Redeployment
Table of Executive Financial Guidance Appendix contents Summary Results Evolving Our Portfolio: Disciplined Review, Focused Redeployment Enterprise-Wide Framework Surgical Business Review Every business assessed against three consistent criteria Surgical Endoscopy and Other Therapeutic Areas in
Slide 14: Consolidated Financial Results FY2026
Table of Executive Financial Guidance Appendix contents Summary Results Consolidated Financial Results FY2026 14
Slide 15: Fiscal Year 2026 4Q Consolidated Financial Results
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 4Q Consolidated Financial Results 1 Revenue increased by 9% (3% CC) (Billions of yen, except After FX despite the impact of ship-holds, FY25 4Q FY26 4Q YoY adjusted EPS) adjustment (CC) driven by solid GIS perfo
Slide 16: Fiscal Year 2026 4Q Gastrointestinal Solutions Division
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 4Q Gastrointestinal Solutions Division Medical Service GI Endoscopy +9% YoY2 +20% YoY2 +2% CC3 +14% CC3 Key Factors for 4Q Results (YoY) GI Endoscopy delivered 20% year-on-year growth. Growth was 30%1 GI Endosco
Slide 17: Fiscal Year 2026 4Q Surgical and Interventional Solutions Division
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 4Q Surgical and Interventional Solutions Division Other Therapeutic Areas Urology -33% YoY2 +9% YoY2 Key Factors for 4Q Results (YoY) -39% CC3 +2% CC3 15%1 Urology delivered 9% year-on-year growth supported by t
Slide 18: Fiscal Year 2026 Highlights
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 Highlights Revenue Adjusted operating margin1 Adjusted EPS Adjusted FCF ¥ 1,010.7B 14.2% ¥ 92 ¥53.5B + 1% / 0% -4.7pp -21% -51% Asia and SIS GIS Oceania China Other Japan North America Europe +13% / -11% / +25%
Slide 19: Consolidated Guidance FY2027
Table of Executive Financial Guidance Appendix contents Summary Results Consolidated Guidance FY2027 19
Slide 20: Fiscal Year 2027 Consolidated Guidance
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2027 Consolidated Guidance Revenue: FY27 represents a pivotal step toward the 3–4–5% revenue growth trajectory, driven by strong GIS momentum across key regions. Adjusted operating profit1: Adjusted operating margin e
Slide 21: Capital Allocation Policy
Table of Executive Financial Guidance Appendix contents Summary Results Capital Allocation Policy How We Allocate Capital Invest Enhancing Capital Allocation to Power Sustainable Value Creation in Global MedTech in growth to create long-term value Accelerating sustainable growth by deploying capital
Slide 22: OLYMPUS
OLYMPUS
Slide 23: Appendix
Table of Executive Financial Guidance Appendix contents Summary Results Appendix 23
Slide 24: Fiscal Year 2026 Consolidated Financial Results
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 Consolidated Financial Results (Billions of yen, except EPS and adjusted After FX After FX FY25 Full-year FY26 Full-year YoY FY25 4Q FY26 4Q YoY EPS) adjustment adjustment Revenue 997.3 1,010.7 +1% 0% 272.1 295.
Slide 25: Fiscal Year 2026 Results by Business Segment
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 Results by Business Segment FY25 FY26 After FX After FX (Billions of yen) YoY FY25 4Q FY26 4Q YoY Full-year Full-year adjustment adjustment Revenue 674.0 697.4 +3% +2% 180.6 210.1 +16% +10% Operating profit 171.4
Slide 26: Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit Full-year (Apr. to Mar.) (Billions of yen) Change in sales +1.2 GIS: Increased by solid performance in Europe, APAC and North America, Change in cost
Slide 27: 4Q of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit
Table of Executive Financial Guidance Appendix contents Summary Results 4Q of Fiscal Year 2026 Factors that Affected Consolidated Adjusted Operating Profit 4Q (Jan. to Mar.) (Billions of yen) Change in sales +6.6 GIS: Increased by strong performance in Change in Impact of North America, Europe Chang
Slide 28: Key Product Catalysts: Gastrointestinal Solutions Division
Table of Executive Financial Guidance Appendix contents Summary Results Key Product Catalysts: Gastrointestinal Solutions Division (As of May 12, 2026) Growth drivers now GI Endoscopy GI EndoTherapy EVIS X1 system and scopes ERCP (Guidwires) EVIS EXERA III system and scopes ESD&EMR (ESD Kniv
Slide 29: Key Product Catalysts: Surgical and Interventional Solutions Division
Table of Executive Financial Guidance Appendix contents Summary Results Key Product Catalysts: Surgical and Interventional Solutions Division (As of May 12, 2026) Growth drivers now Urology Respiratory Surgical Endoscopy Resection electrodes with ESG-410 EVIS X1 bronchoscope VISERA ELITE III
Slide 30: Fiscal Year 2026 Expenses Related to Elevate
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2026 Expenses Related to “Elevate” (Billions of yen) FY24 Full-year FY25 Full-year 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 4Q FY26 Full-year SG&A
Slide 31: Fiscal Year 2026 Consolidated Adjusted Operating Profit
Table of Executive Financial Guidance Appendix contents Summary Results 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 Full-year FY26 Full-year Operating pr
Slide 32: Consolidated Statement of Financial Position
Table of Executive Financial Guidance Appendix contents Summary Results Consolidated Statement of Financial Position 1 Total assets increased due to foreign exchange effects and an increase in trade receivables and inventories, while cash and cash equivalents decreased as a result of share repurchase
Slide 33: Consolidated Cash Flows
Table of Executive Financial Guidance Appendix contents Summary Results Consolidated Cash Flows 1 FCF: Positive ¥13.2 billion, as cash flow increases from profit before tax were partially offset by corporate income tax payments and acquisition of PPE. Adjusted FCF1 was positive ¥53.5 billion. 2 Financi
Slide 34: Fiscal Year 2027 Consolidated Guidance
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2027 Consolidated Guidance (Billions of yen, Except EPS and FY26 Full-year FY27 Guidance vs FY26 After FX adjustment Adjusted EPS) Revenue 1,010.7 1,055.0 to 1,076.0 +4.4% to +6.5% +1.5% to +3.5% Cost of sales 356.6
Slide 35: Fiscal Year 2027 Guidance by Business Segment
Table of Executive Financial Guidance Appendix contents Summary Results Fiscal Year 2027 Guidance by Business Segment (Billions of yen) FY26 Full-year FY27 Guidance vs FY26 After FX adjustment Revenue 697.4 744.0 to 749.0 +6.7% to +7.4% +3.7% to +4.5% Operating profit 136.4 173.5 to 180.0 +27.2% to +
Slide 36: Expenditures: Fiscal Year 2026 Actuals and Fiscal Year 2027 Guidance
Table of Executive Financial Guidance Appendix contents Summary Results Expenditures: Fiscal Year 2026 Actuals and Fiscal Year 2027 Guidance FY26 Actuals and FY27 Guidance (Billions of yen) FY25 Full-year FY26 Full-year FY27 Guidance FY27 (Billions of yen) FY25 Full-year FY26 Full-year Guidance R&D
Slide 37: Foreign Exchange and Sensitivity
Table of Executive Financial Guidance Appendix contents Summary Results Foreign Exchange and Sensitivity Foreign exchange rate FY25 FY25 FY25 FY25 FY25 FY26 FY26 FY26 FY26 FY26 FY27 (Yen) 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total Guidance Yen/U.S.dollar 155.88 149.38 152.44 152.60 152.58 144.59 147.48 154
Slide 38: Acronyms
Table of Executive Financial Guidance Appendix contents Summary 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 Retrograde Cholangio Pancr