Olympus Corp Ord (OCPNF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us today for our fiscal year 2026 first quarter earnings call. My name is Bob White, President and CEO of Olympus. As many of you know, I was appointed as CEO in June, and it's an honor to address you for the first time as CEO of Olympus. I would like to start by expressing my gratitude to our employees, customers, and stakeholders for their continued trust and support during this period of transition. That said, I want to share my candid views on our first quarter performance, which fell short of expectations. In the first quarter, Consolidated revenues decreased by 12% year-on-year to 206.5 billion yen. Furthermore, insufficient short-term cost control in the face of revenue declines resulted in a drop in adjusted operating profit to 13.2 billion yen. Major markets, excluding APAC, experienced challenging results. In particular, the U.S. faced challenges due to difficult comparison to prior year's strong performance, which was driven by the launch of EVUS X1 and the elimination of back orders following the Nodo earthquake. Then, in the first quarter of this year, we experienced a delay in purchases ahead of the upcoming new product launches in this fiscal year. In Japan, the challenging environment surrounding hospital management persists. And while in China, the business climate is affected by the ongoing impact of the buy China policy. Regarding the revenue forecast for the balance of this fiscal year, we do anticipate positive momentum in the US from new product launches, such as the eat off scopes. In Europe, we expect better execution in key markets like the UK and Germany. That said, considering the impact of the recent FDA import alerts, continued softness in certain markets such as China and Japan, we've adjusted our f...