Shimadzu Corporation · TSE:7701

Shimadzu — Q1 FY2025 Earnings Presentation

33 slides from Shimadzu's earnings presentation, Aug 7, 2025

  1. Slide 1: Q1 FY2025 (FYE3/2026) Presentation

    Shimadzu Corporation (TSE Prime Market: Securities Code: 7701) Q1 FY2025 (FYE3/2026) Presentation Managing Executive Officer Yoshiaki Maeda August 7, 2025

  2. Slide 2: Key Messages

    • AMI: Analytical & Measuring Instruments, MED: Medical Systems, IM: Industrial Machinery, AE: Aircraft Equipment Key Messages • AMI Key Models (LC: Liquid Chromatographs, MS: Mass Spectrometer Systems, GC: Gas Chromatographs) • TMP: Turbomolecular Pumps Both Revenue Sales and OP exceeded both prior

  3. Slide 3: Overview of Financial Results

    Overview of Financial Results 01 Overview of Financial Results Copyright © Shimadzu Corporation. All Rights Reserved. | FY2025 Q1 Results 3

  4. Slide 4: Summary of Results

    Summary of Results Q1 (Apr.-Jun.) YoY Units: Billions of yen FX Impact FY2024 FY2025 Changes % Net Sales 116.9 118.4 +1.4 +1% Sales: - ¥5.0B Operating Income 11.0 12.2 +1.2 +11% OP: - ¥0.8B Business Operating Margin 9.4% 10.3% +0.9pt Results Ordinary Income 13.7 11.3 -2.4 -17% Profit Attributable to

  5. Slide 5: YoY Change in OP

    YoY Change in OP ◼ Sales: Gain from higher sales and value-added pricing +3.6 ◼ Manufacturing: Higher material costs offset by improved factory performance from increased production +1.3 ◼ Growth Investments: Investments in R&D, human capital, etc. -2.2 Investments in Manufacturing Growth and (¥B) S

  6. Slide 6: Sales and OP by Segment

    Sales and OP by Segment ◼ AMI: Increase in sales and OP (Record-high sales) ◼ IM: Decline in sales, flat OP (Both increased excl. FX) ◼ MED: Decline in sales and OP ◼ AE: Increase in sales and OP (Record-high sales and OP) Net Sales Operating Income Operating Margin Units: Billions of yen YoY YoY Yo

  7. Slide 7: AMI / Sales and OP

    AMI / Sales and OP ◼ Sales: Record highs for both Key Models and other models ◼ OP: Increase in revenue growth; OPM improved by 1.6%pts Key Models Others OP (¥B) Percentages indicate year-on-year changes. Key Models Sales: ¥43.8B Sales OP • Growth limited to +3% YoY due to FX; (+9% growth excl. FX)

  8. Slide 8: AMI / Sales by Region

    AMI / Sales by Region ◼ Japan: ¥24.1B (+4% YoY). ◼ Overseas: ¥51.7B (+2% YoY). Sales decline in China was offset by growth in North America, Other Asian Countries, and India. Overseas Sales Ratio: 68.2% (-0.4%pts YoY). China Sales Ratio: 22% (-2.6%pts YoY). (¥B) Key Models Others Sales by Region: Up

  9. Slide 9: MED / Sales and OP

    MED / Sales and OP ◼ Sales: Decline in X-Ray Systems; increase in other models ◼ OP: Decrease due to lower sales and less favorable product mix X-Ray Systems Others OP (¥B) Percentages indicate year-on-year changes. X-Ray Systems Sales: ¥9.5B Sales OP • Challenging results due to a low level of orde

  10. Slide 10: IM / Sales and OP

    IM / Sales and OP ◼ Sales: Increase in TMP for SPE*; decline in Hydraulic Equipment and Industrial Furnaces ◼ OP: Slight decline due to FX, despite improved gross profit margin from higher proportion of TMP recurring sales TMP Hydraulic Equipment OP (¥B) Others Percentages indicate year-on-year chan

  11. Slide 11: AE / Sales and OP

    AE / Sales and OP ◼ Sales: Increase in both defense and commercial aircraft markets ◼ OP: Significant increase driven by revenue growth Defense Commercial Aircraft OP (¥B) Percentages indicate year-on-year changes. Sales OP 9.9 Defense Sales: ¥7.6B +14% 8.7 +40% 2.3 • Growth driven by government pol

  12. Slide 12: Topics

    Overview of Financial Results 02 Topics • Status of AMI Business • Orders by Region • Progress in China Business • New Product Launch Status Copyright © Shimadzu Corporation. All Rights Reserved. | FY2025 Q1 Results 12

  13. Slide 13: AMI / Orders by Region

    AMI / Orders by Region Impact of Tariffs Our Status (Q1) Impact on automotive-related supply  Tariff impact on automotive sector offset by growth in academia chains in Japan; limited impact in other Japan and government regions  Growth in LC, MS, and NDI  Solid performance in pharmaceuticals and

  14. Slide 14: AMI / Progress in China Business

    AMI / Progress in China Business  YoY growth in China for two consecutive quarters, following previously sluggish performance  Public Sector: Solid performance in academia and government, supported by government’s stimulus  Private Sector: Overall sluggish, but growth seen in pharmaceutical secto

  15. Slide 15: New Product Launch Status

    New Product Launch Status High-Performance Liquid Chromatograph Scanning Electron Microscope Microbial Identification Software Mass Spectrometer System SUPERSCAN SS-3000 for MALDI-TOF MS LCMS-8065XE Released in Japan in April 2025 MicrobialTrack Released in August 2025 Released in May 2025 +  Impro

  16. Slide 16: FY2025 Earnings Forecast

    Overview of Financial Results 03 FY2025 Earnings Forecast Copyright © Shimadzu Corporation. All Rights Reserved. | FY2025 Q1 Results 16

  17. Slide 17: FY2025 Guidance (Review of Tariff Impacts Underway)

    FY2025 Guidance (Review of Tariff Impacts Underway) ◼ Planning to review direct and indirect impacts of U.S. tariff policy ◼ Full-year forecasts remain unchanged as we are closely examining the impact of post -August tariff on the global economy. Sales ¥ 515.0 B YoY - ¥ 24.0 B, -4 % OP ¥ 58.0 B YoY

  18. Slide 18: FY2025 Guidance by Segment (Review of Tariff Impacts Underway)

    FY2025 Guidance by Segment (Review of Tariff Impacts Underway) • Launch over 10 new products that contribute to performance, aiming to exceed targets by providing new value. ◼ AMI: Minimize tariff impacts through value-added pricing and expansion in growing markets. ◼ MED: Expand sales of new X-Ray

  19. Slide 19: AMI Business Briefing & Shimadzu Booth Tour at JASIS (Sep. 5)

    [Notice] AMI Business Briefing & Shimadzu Booth Tour at JASIS (Sep. 5) ◼ Business briefing for analysts and institutional investors at JASIS, one of Asia’s largest exhibitions for Analytical and Measurement Instruments Date & Time Friday, September 5, 2025 | 13:00 – 15:45 (JST) Venue Makuhari Messe

  20. Slide 20: Forward-looking statements and contact

    Actual results may differ significantly from forecasts about future performance indicated in this document, due to fluctuations in economic conditions, exchange rates, technologies, or various other external factors. Contact: Investor Relations Group, Corporate Communication Department, Shimadzu Cor

  21. Slide 21: Supplementary Materials

    Supplementary Materials Supplementary Materials Copyright © Shimadzu Corporation. All Rights Reserved. | FY2025 Q1 Results 21

  22. Slide 22: AMI / Sales Ratio (Q1)

    AMI / Sales Ratio (Q1) Model Region Other Countries India 5.9% 6.2% Other Asian Countries 6.1% (Excluding Japan 5.5% 31.8% India) Other 9.7% 9.0% 31.4% 42.2% 42.5% Key Models 57.5% 57.8% 24.6% China 11.1% 22.0% 12.4% North America 12.2% Europe 12.3% Outer: FY2025 Inner: FY2024 Copyright © Shimadzu C

  23. Slide 23: AMI / Sales Ratio by Domain (Q1)

    AMI / Sales Ratio by Domain (Q1) Ratio Sales Markets and Main Sales Ratio by Overview Industries FY2024 FY2025 YoY Market Healthcare • Pharmaceuticals • Increase in pharma demand in North America, and food Europe, Southeast Asia, and India Other • Healthcare 38% 37% +2% • Growth in clinical sector (

  24. Slide 24: AMI / YoY Change for Sales of Key Models

    AMI / YoY Change for Sales of Key Models Key Models ◼ LC: Growth in chemical sector in Japan; decline in China on sluggish private-sector demand ◼ MS: Strong growth in clinical sector in North America; increased demand for pharma and food in Japan and India ◼ GC: Growth in chemical sector in Europe;

  25. Slide 25: AMI / Sales by Region

    AMI / Sales by Region Units: YoY Billions of FY2024 FY2025 Overview yen Changes % • Increase in LC for R&D and quality control in chemical sector Japan 23.2 24.1 +0.9 +4% • Increase in MS for food sector and academia Overseas 50.6 51.7 +1.1 +2% • Overseas sales ratio slightly declined from 68.6% to

  26. Slide 26: AMI / YoY Change in Sales by Region

    AMI / YoY Change in Sales by Region ◼ Japan: Growth in LC for chemical sector; increase in MS for food and academic sectors ◼ Overseas: Significant growth in MS for clinical sector in North America; sluggish private -sector demand in China, but with signs of recovery FY2023 FY2024 FY2025 with FX Q1

  27. Slide 27: AMI / YoY Change for Net Sales by Domain

    AMI / YoY Change for Net Sales by Domain FY2023 FY2024 FY2025 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Healthcare +24% +7% -4% -8% +3% +1% -4% +5% +11% +3% +2% Industry (Green and +15% +8% +6% +5% +8% +7% +2% +2% +8% +5% -6% Material) Academia/ +20% +25% +23% -2% +14% -2% -8% -8% -7% -6% +9% Government • Ex

  28. Slide 28: MED / Net Sales Ratio (Q1)

    MED / Net Sales Ratio (Q1) Model Region Other Countries 12.2% Other Other Asian 15.6% 30.8% 25.7% Countries 10.5% X-Ray 11.6% 45.3% Systems China Japan 6.3% 51.4% 74.3% 69.2% 5.7% Europe 2.7% 6.5% North 15.3% America 16.8% Outer: FY2025 Inner: FY2024 Copyright © Shimadzu Corporation. All Rights Rese

  29. Slide 29: MED / Sales by Region

    MED / Sales by Region YoY Units: Billions of yen FY2024 FY2025 Overview Changes % • Increased sales of Radiotherapy Support Systems Japan 7.0 7.0 +0.0 +1% • Overall decline in X-Ray Systems due to slow market recovery Overseas 8.5 6.6 -1.8 -21% • Overseas sales ratio declined to 49%, down 6%pts YoY

  30. Slide 30: MED / YoY Change in Sales by Region

    MED / YoY Change in Sales by Region ◼ Japan: Decline in X-Ray Systems due to slow market recovery; growth in Radiotherapy Support Systems ◼ Overseas: Significant decline in Europe due to stagnant market; decline in North America and China due to FX FY2023 FY2024 FY2025 with FX Q1 Q2 Q3 Q4 FY Q1 Q2 Q

  31. Slide 31: IM / YoY Change in Sales by Model

    IM / YoY Change in Sales by Model ◼ TMP: Increase for SPE ◼ Hydraulic Equipment: Sluggish performance for industrial vehicles ◼ Other Models: Decline in Industrial Furnaces for automotive ceramic parts FY2023 FY2024 FY2025 with FX Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 TMP -3% +0% -0% +15% +3% +27% +7% +1

  32. Slide 32: Recurring Sales Ratio

    Recurring Sales Ratio ◼ AMI: Increase in maintenance services for clinical sector in North America ◼ MED: Increase in maintenance services in North America following enhanced service network ◼ TMP: Growth in Taiwan and South Korea driven by improved customer coverage FY2023 FY2024 FY2025 AMI Q1 Q2 Q

  33. Slide 33: Balance Sheet

    Balance Sheet ◼ Total Assets as of the end of June, 2025: ¥647.3B (a decrease of ¥24.9B from the end of March 2025) ◼ Decrease in current assets due to collection of accounts receivable (¥B) Current liabilities 131.3 (-20.0) (Change from the end of March 2025) Assets Non-current liabilities 22.5 (-0

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