Olympus 9M FY2026 profit slumps 43% to ¥43.4bn on weaker margins and restructuring charges; cuts full‑year guidance but keeps revenue flat
Summary:
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Revenue for the nine months to 31 December 2025 dipped 1.4% year on year to ¥715.4 billion, as both Gastrointestinal Solutions and Surgical & Interventional Solutions posted modest top‑line declines.
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Operating profit fell 35.4% to ¥70.3 billion and adjusted operating profit dropped 29.9% to ¥89.9 billion, hit by a weaker cost‑of‑sales ratio from higher US tariffs, adverse product mix, recall‑related costs of about ¥2.4 billion and elevated R&D and SG&A.
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Net profit attributable to owners of the parent slid 43.2% to ¥43.4 billion, even as total comprehensive income was supported by ¥49.1 billion of FX translation gains on a weaker yen.
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The Surgical & Interventional Solutions division swung to a ¥10.6 billion operating loss from a ¥7.3 billion profit on lower US sales, ship‑holds, higher impairment on development assets and roughly ¥4.0 billion of global restructuring expenses, while GI Solutions profit also contracted on tariffs and JV costs.
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Olympus cut FY2026 guidance, now forecasting flat revenue of ¥998 billion but a sharply lower operating profit range of ¥75–87 billion and net profit of ¥50–59 billion (down about 50% year on year), reflecting softer segment performance and additional structural reform costs, even as the equity ratio improves to 53%.