Olympus Corp Ord (OCPNF) Q1 2026 Earnings Call

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WEBVTT 00:00:01.617 -- 00:00:08.125 Hello, everyone. Thank you for joining us today for our fiscal year 2026 00:00:08.148 -- 00:00:11.253 first quarter earnings call. 00:00:11.253 -- 00:00:15.320 My name is Bob White, President and CEO of Olympus. 00:00:15.320 -- 00:00:20.389 As many of you know, I was appointed as CEO in June, and it's an honor to address 00:00:20.389 -- 00:00:25.585 you for the first time as CEO of Olympus. I would like to start 00:00:25.585 -- 00:00:31.094 by expressing my gratitude to our employees, customers, and stakeholders 00:00:31.094 -- 00:00:36.002 for their continued trust and support during this period of transition. 00:00:36.002 -- 00:00:41.090 That said, I want to share my candid views on our first quarter performance, which fell 00:00:41.090 -- 00:00:43.731 short of expectations. 00:00:45.337 -- 00:00:47.797 In the first quarter, 00:00:47.838 -- 00:00:53.066 Consolidated revenues decreased by 12% year-on-year 00:00:53.066 -- 00:00:54.949 to 206.5 00:00:54.949 -- 00:00:58.675 billion yen. Furthermore, insufficient 00:00:58.675 -- 00:01:04.163 short-term cost control in the face of revenue declines resulted in a drop 00:01:04.163 -- 00:01:09.612 in adjusted operating profit to 13.2 billion yen. 00:01:09.612 -- 00:01:14.146 Major markets, excluding APAC, experienced challenging results. 00:01:14.146 -- 00:01:19.453 In particular, the U.S. faced challenges due to difficult comparison to prior year's 00:01:19.453 -- 00:01:24.860 strong performance, which was driven by the launch of EVUS X1 and the elimination 00:01:24.860 -- 00:01:27.924 of back orders following the Nodo earthquake. 00:01:27.924 -- 00:01:33.011 Then, in the first quarter of this year, we experienced a delay in purchases ahead 00:01:33.011 -- 00:01:37.337 of the upcoming ne...