Slide 1: 1st Quarter FY2025 Financial Results
1st Quarter FY2025 Financial Results May 1, 2026 Tamron Co., Ltd. (Code: 7740)
Slide 2: Contents
Contents Ⅰ. 1st Quarter FY2026 Financial Results Ⅲ. Medium-Term Management Plan (MTMP) 1. Summary “Value Creation 26 ver.2.0” Progress Update 2. Consolidated Results （Announced Feb. 6） 3. Factors Affecting Operating Income 1. Consolidated Progress Update 4. Segment Results 2. Segment Progress Update
Slide 3: Ⅰ. 1st Quarter FY2026 Financial Results
Ⅰ. 1st Quarter FY2026 Financial Results
Slide 4: Ⅰ-1. Summary
Ⅰ-１. Summary Environment Economy Market Conditions Prolonged geopolitical risks and growing uncertainty surrounding U.S. trade policies, leading Interchangeable-Lens Camera / Interchangeable Lens Markets: to a global economic slowdown Maintained positive growth in both unit volume and value, sup
Slide 5: Ⅰ-2. Consolidated Results
Ⅰ-２. Consolidated Results Despite revenue growth in the Surveillance & FA business, Mobility & Healthcare, and Other business segments, consolidated revenue declined due to the continued sluggishness in orders for photo-related OEM products. Profitability was pressured by the impact of lower rev
Slide 6: Ⅰ-3. Factors Affecting Operating Income
Ⅰ-３. Factors Affecting Operating Income • Operating Income decreased due to lower gross profit, primarily driven by sales decline and unfavorable product mix. • SG&A expenses were strictly controlled at the previous year's level. 1st Quarter FY2026 (Millions of JPY) FX Impact on Net Sales: +530 mill
Slide 7: Ⅰ-4. Segment Results ①Photographic Products
Ⅰ-４. Segment Results ①Photographic Products Own-Brand Products: Maintained growth overall, notwithstanding regional differences. - Europe: Rebounded to positive growth, recovering from the sluggish - Japan: Sales growth outpaced the market. trend since H2 of last year; achieved double-digit sales
Slide 8: Ⅰ-4. Segment Results ①Photographic Products
Ⅰ-４. Segment Results ①Photographic Products Q1 Own-Brand Sales by Region Sales Mix (Value Basis) Sales Growth Rate (YoY, Yen Basis) Others 5% +89% Europe 17% Other Asia 6% 13% 19% 20% +34% Sales Mix 14% +16% +13% +8% China America +1% +2% 12% 27% 20% 25% Europe America Japan China Other Asia Others
Slide 9: Ⅰ-4. Segment Results ②Surveillance & FA Lenses
Ⅰ-４. Segment Results ②Surveillance & FA Lenses Surveillance: Achieved ~1.3x growth by capturing demand for high-resolution/high-definition products and diversified applications. FA: Demand recovered following the completion of customer inventory adjustments, resulting in double-digit revenue gro
Slide 10: Ⅰ-4. Segment Results ②Surveillance & FA Lenses
Ⅰ-４. Segment Results ②Surveillance & FA Lenses Q1 Sales Mix by Branch (Value Basis) Q1 Sales Growth Rate By Branch (YoY, Yen Basis) Others1% Europe7 America China 7% % 3% +66% +51% 7% 6% 3% +25% +29% 1% +23% +5% +5% Sales Mix Europe America Japan China Others Total -2% -19% -25% -38% -46% 83% Inside
Slide 11: Ⅰ-4. Segment Results ③ Mobility & Healthcare Products, Other
Ⅰ-４. Segment Results ③ Mobility ＆Healthcare Products, Other Automotive: Continued growth trend driven by robust demand for advanced sensing, supported by the widespread adoption of ADAS. Healthcare: Revenue increased by approx. 1.6x, driven by the successful expansion of the product lineup suppo
Slide 12: Ⅰ-5. Quarterly Segment Performance Trends
Ⅰ-5. Quarterly Segment Performance Trends Q1 YoY Q2 YoY Q3 YoY Q4 YoY Q1 YoY Q2 YoY Q3 YoY Q4 YoY Q1 QoQ YoY （¥ million） FY24 (%) FY24 (%) FY24 (%) FY24 (%) FY25 (%) FY25 (%) FY25 (%) FY25 (%) FY26 (%) (%) Net Sales 13,944 +45.0 19,152 +38.7 17,228 +21.3 14,510 -5.8 13,569 -2.7 16,413 -14.3 15,131 -
Slide 13: Ⅱ. FY2026 Forecast (Announced Feb. 6)
Ⅱ. FY2026 Forecast（Announced Feb. 6）
Slide 14: Ⅱ-1. Consolidated Forecast
Ⅱ-１. Consolidated Forecast Environment Economy Market While the economy is on a moderate recovery trend, uncertainty remains high due to prolonged Interchangeable-Lens Cameras & Lenses: geopolitical risks, concerns over a slowdown in the Chinese economy, and uncertainty Unit volumes remained fla
Slide 15: Ⅱ-3. Segment Forecast ①Photographic Products
Ⅱ-3. Segment Forecast ①Photographic Products Own-brand: Revenue expected to grow above market growth, driven by the launch of 10 new models and sales recovery in Europe and China OEM: Forecast reflects a required adjustment based on market conditions and recent order trends Operating Income: D
Slide 16: Own-Brand New Model Launches
Before FY23: Approx. 5 new models per year ⇒ Initial Medium-Term Management Plan: Target of 6-7 launches per year ⇒ FY24: 7 launches achieved; FY25: 6 launches achieved Products – Own-Brand New Models ⇒ New Medium-Term Management Plan: Targeting 10+ new model launches per year by FY26 FY24: 7 models
Slide 17: Ⅱ-3. Segment Forecast ②Surveillance & FA Lenses
Ⅱ-3. Segment Forecast ②Surveillance & FA Lenses Surveillance: Revenue increased on stable market conditions supported by solid security demand for urban and office surveillance FA: Revenue increased following the completion of inventory adjustments Camera Modules: Revenue increased due to catc
Slide 18: Ⅱ-3. Segment Forecast ③ Mobility & Healthcare Products, Other
Ⅱ-3. Segment Forecast ③ Mobility ＆Healthcare Products, Other Automotive: Approx. 10% revenue growth, supported by strong demand driven by ADAS expansion Healthcare components: Approx. 20% revenue growth, driven by lineup expansion and continued steady high growth Operating Income: Operating ma
Slide 19: Ⅲ. Medium-Term Management Plan Progress Update
Ⅲ. Medium-Term Management Plan (MTMP) “Value Creation 26 ver.2.0” Progress Update （Announced Feb. 6）
Slide 20: Ⅲ-1. Consolidated Progress Update
Ⅲ-１. Consolidated Progress Update Value Creation 26 ver. 2.0 Progress Following the achievement of all initial targets in the first year (FY24), the Company FY25: OEM order declines and delayed recovery in Europe weighed on the announced ver. 2.0, featuring a significant upward revision of targe
Slide 21: Ⅲ-2. Segment Progress Update ①Photographic Products
Ⅲ-２. Segment Progress Update ①Photographic Products Value Creation 26 ver. 2.0 Progress Sales O.P. FY23 MTMP FY26 FY24 FY25 FY26 （¥ billion） Actual Initially ver2.0 （¥ billion） Actual Actual Fcst. 64.8 68.0 60.6 63.0 Own-Brand 32.8 37.0 39.0 Own-Brand 36.0 35.9 39.0 53.0 18.1 20.0 OEM 20.2 19.0 29.0
Slide 22: Ⅲ-2. Segment Progress Update ②Surveillance & FA Lenses
Ⅲ-２. Segment Progress Update ②Surveillance & FA Lenses Value Creation 26 ver. 2.0 Progress Sales O.P. FY23 MTMP FY26 FY24 FY25 FY26 （¥ billion） Actual Initially ver2.0 （¥ billion） Actual Actual Fcst. 14.5 13.0 Surv. 5.9 7.4 7.0 Surv. 6.3 6.7 8.3 12.3 12.1 9.8 FA & Oth. 1.6 3.6 2.8 FA & Oth. 2.4 2.0
Slide 23: Ⅲ-2. Segment Progress Update ③ Mobility & Healthcare Products, Other
Ⅲ-２. Segment Progress Update ③ Mobility ＆Healthcare Products, Other Value Creation 26 ver. 2.0 Progress Sales FY23 MTMP FY26 FY24 FY25 FY26 O.P. 13.5 14.0 （¥ billion） Actual Initially ver2.0 （¥ billion） Actual Actual Fcst. 12.3 11.3 Auto 7.1 10.2 12.2 Auto 9.5 10.3 11.3 8.6 2.7 HC Comp. 0.4 1.4 1.1
Slide 24: Ⅳ. Reference Data
IV. Reference Data
Slide 25: Ⅳ-1. Financial Position
Ⅳ-１. Financial Position Assets Liabilities / Net Assets （¥ million） （¥ million） 120,000 120,000 106,046 106,046 102,868 102,868 100,000 91,255 100,000 91,255 15,499 13,313 35,371 30,819 4,634 12,786 80,000 80,000 4,693 30,669 3,408 17,090 15,201 60,000 60,000 14,002 16,768 18,989 85,911 40,000 84,86
Slide 26: Ⅳ-2. Cap Expenditures, Depreciation, and R&D Expenses
Ⅳ-2. Cap Expenditures, Depreciation, and R&D Expenses Capital Expenditures R&D Expenses （¥ million） （¥ million） 8,000 10,000 10.0% 9.1% 5,956 6,000 6,000 5,299 8.5% 8.6% 8.6% 4,828 8.0% 4,000 3,218 8,000 8.0% 2,000 0 FY22 FY23 FY24 FY25 FY26(Fcst.) 6,000 6.0% Depreciation 4,000 8,300 4.0% （¥ million
Slide 27: Ⅳ-3. Cash Flows
Ⅳ-3. Cash Flows 20,000 15,096 15,000 10,000 7,757 5,000 2,584 1,102 1,286 0 -848 -1,482 -2,134 -5,000 -4,036 -7,339 -10,000 -8,332 -11,129 -15,000 End-Mar. 2025 End-Dec. 2025 End-Mar. 2026 Operating CF Investing CF Free CF Financing CF End-Mar. 2025 End-Dec. 2025 End-Mar. 2026 Operating Activities C
Slide 28: Ⅳ-4. Dividends and Key Performance Indicators
Ⅳ-4. Dividends and Key Performance Indicators Dividends Key Performance Indicators Repurchase of treasury stock （JPY） （JPY） (4.0Bill.) 50 100% 200 25% 45 Repurchase of 84.1% treasury stock (2.0Bill.) 20.4% 40 80% 20% 35 150 17.2% 19.0% 17.1% 30 54.0% 60% 49.8% 16.1% 16.0% 25 43.6% 39.8% 16.5% 15% 26
Slide 29: Ⅳ-5. FX Impacts
Ⅳ-５. FX Impacts FX Impact in Q1 FY26 Impact (¥ million) 1Q FY24 1Q FY25 Net Sales Operating Income USD/JPY 152.57 156.97 +180 +50 EUR/JPY 160.61 183.71 +240 +190 Others - - +110 +60 Total - - +530 +300 （FX Impact vs. Q1 FY25） FX sensitivity in FY26 FX Assumption Impact of ￥1 Appreciation (¥ million)
Slide 30: Disclaimer
Disclaimer 1. The purpose of this material is to provide information on the actual results for Q1 FY2025 and the company’s future business strategies. It does not constitute, and should not be construed as, an offer or solicitation to buy or sell securities. 2. The information herein is based on dat