Terumo Corp (TRUMF) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Jin Hagimoto, CFO of Terumo. Let me begin with an overview of our financial results for the first quarter of the fiscal year ending March 2027. Achieved record high revenue for the quarter, reaching 311.8 billion yen, supported by a favourable business environment. Demand remains strong globally, particularly in the Americas, resulting in 9% year-on-year growth on a local currency basis. On the profit side, in addition to solid revenue growth, earnings benefited from a US tariff refund and one-time income, resulting in significant increase. Even excluding these temporary positive factors, strong business performance enabled us to achieve record high quarterly profit. In light of this performance, we are revising our full-year guidance upward from the forecast announced in May. While our revenue outlook and earnings from business operations remain unchanged, we have incorporated the impact of the US tariff refund in one-time income resulting in higher profit guidance. Moving on to our P&L performance, revenue increased 20% year-on-year to 311.8 billion yen. Continued business expansion drove 9% growth on a local currency basis. Unfavorable foreign exchange effects further supported revenue growth resulting in higher revenue across all companies. TIS in the CNV company and global blood solutions in the TBCT company were the key growth drivers while our other major businesses also performed solidly. Operating profit reached 89.5 billion yen up 60% year-on-year. In addition to profit growth driven by higher revenue, profit was supported by ¥13 billion in income related to a US tariff refund and ¥20 billion in one-time settlement proceeds. Adjusted operating profit also increased 35% year-on-year on ¥79.6 billion. Next please. Now I will explain the LP variants analys...