Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> has reported FY25 result, with revenue and adjusted operating profit beating and operating and net profits missing guidance. TIS and GBS remained two brightest spots.</li>
<li>FY26 guidance calls for a decelerated revenue growth of just 1% YoY (FY25 revenue growth rate was 12%). Foreign exchange will impact the revenue negatively.</li>
<li>Implementation of the U.S. tariff poses downside risk to guidance, while better-than-expected foreign exchange rate and C&amp;V business growth are the upside risks.</li>
</ul>



Terumo Corp (4543 JP) has reported FY25 result, with revenue and adjusted operating profit beating and operating and net profits missing guidance. TIS and GBS remained two brightest spots.
FY26 guidance calls for a decelerated revenue growth of just 1% YoY (FY25 revenue growth rate was 12%). Foreign exchange will impact the revenue negatively.
Implementation of the U.S. tariff poses downside risk to guidance, while better-than-expected foreign exchange rate and C&amp;V business growth are the upside risks.


Terumo Corp (4543 JP): Mixed Performance in FY25; Revenue Growth to Decelerate in FY26

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> reported record high revenue, operating profit, and net profit for both Q3FY25 and Q3 YTD. Global demand continues to expand, driven by the U.S.</li>
<li>In terms of segments, TIS and blood center business drove the growth. Steady progress in pricing measures and profit improvement measures led the bottomline outperforming topline, thereby improving profitability.</li>
<li>FY25 guidance implies Q4FY25 revenue of ¥238B, flat YoY and down 10% QoQ. Mainstay C&amp;V business revenue is expected to decline 6% YoY to ¥139B due to seasonality.</li>
</ul>



Terumo Corp (4543 JP) reported record high revenue, operating profit, and net profit for both Q3FY25 and Q3 YTD. Global demand continues to expand, driven by the U.S.
In terms of segments, TIS and blood center business drove the growth. Steady progress in pricing measures and profit improvement measures led the bottomline outperforming topline, thereby improving profitability.
FY25 guidance implies Q4FY25 revenue of ¥238B, flat YoY and down 10% QoQ. Mainstay C&amp;V business revenue is expected to decline 6% YoY to ¥139B due to seasonality.


Terumo Corp (4543 JP): Strong Demand Drives Q3FY25 Performance; FY25 Guidance Reiterated

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.</li>
<li>The strategy performs well if the Nifty 50 rises <em>and</em> outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.</li>
<li>Leverage increases both the strategy's payoff and probability of success.</li>
</ul>


This strategy exploits relative value in implied volatilities and combines it with a long Nifty 50 vs. short Nikkei 225 directional view over a period of two months.
The strategy performs well if the Nifty 50 rises and outperforms the Nikkei 225. If both indices decline, neither profit nor loss is incurred.
Leverage increases both the strategy's payoff and probability of success.


EQD | Long Nifty 50 Vs. Short Nikkei 225 - A Relative Value Option Strategy with a Kicker

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> reported better-than-expected H1FY25 result, with revenue, operating profit, and net profit all reached record highs for the first half. Profit margins continued to improve.</li>
<li>Revenue from C&amp;V business grew 15% YoY to ¥306B (~60% of total revenue). More than 60% of the growth came from TIS (catheter) division, which grew 14% YoY to ¥201B.</li>
<li>Terumo has revised FY25 guidance upward, reflecting strong performance and changes in foreign exchange assumptions. Both revenue and profits are expected to reach record high in FY25.</li>
</ul>



Terumo Corp (4543 JP) reported better-than-expected H1FY25 result, with revenue, operating profit, and net profit all reached record highs for the first half. Profit margins continued to improve.
Revenue from C&amp;V business grew 15% YoY to ¥306B (~60% of total revenue). More than 60% of the growth came from TIS (catheter) division, which grew 14% YoY to ¥201B.
Terumo has revised FY25 guidance upward, reflecting strong performance and changes in foreign exchange assumptions. Both revenue and profits are expected to reach record high in FY25.


Terumo Corp (4543 JP): Strong H1 Result Triggers Guidance Raise; Product Pipeline Entails Visibility

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> was able to hang in well after the announcement, up until the day or two before pricing date, then the shares were walloped into Pricing. </li>
<li>After pricing, they have fallen and erased most of the discount. That's an opportunity. </li>
<li>The shares have underperformed Peers, and there is flow to come. This deal was, as advertised, smaller than it first appeared. </li>
</ul>



Terumo Corp (4543 JP) was able to hang in well after the announcement, up until the day or two before pricing date, then the shares were walloped into Pricing. 
After pricing, they have fallen and erased most of the discount. That's an opportunity. 
The shares have underperformed Peers, and there is flow to come. This deal was, as advertised, smaller than it first appeared. 


Taking Advantage of Terumo (4543) Weakness And After-Offering Flow

Japan

TERUMO CORPORATION is a manufacturer and supplier of pharmaceuticals and medical tools and equipment.  The Company's products include health foods, transfusion and infusion equipment, disposable medical supply, clinical testing systems, artificial organs, and electronic thermometers.  Terumo markets the products through its subsidiaries and sales offices in the US, Europe, and Asia.

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Terumo Corp (4543 JP)