Overview
Precision Instruments

TERUMO CORPORATION

Terumo Corporation is a leading global medical device manufacturer headquartered in Japan, operating across three core business segments: the Cardiac and Vascular Company (interventional cardiology, peripheral vascular, and cardiac surgery devices), the Medical Care Solutions Company (infusion therapy, diabetes care, and general hospital products), and the Blood and Cell Technologies Company (blood management, transfusion, and cell therapy solutions). The company serves hospitals, clinics, and healthcare institutions worldwide with a broad portfolio of innovative medical products and technologies. Terumo is also advancing next-generation cell therapy manufacturing, including iPS cell expansion in collaboration with Kyoto University's CiRA Foundation.

Market Cap
¥3,539B
US$22.6B
EV
¥3,635B
US$23.2B
Stock¥2,399▼-1.26%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
11.7
x
LTM EV/EBIT
17.3
x
LTM PER
21.5
x
LTM PBR
2.1
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-26.5%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 13, 25FY3/26 net profit guidance cut by ¥7bn on acquisition-related costs
2May 18, 26FY3/27 guidance: net profit +22% to ¥165.3bn, dividend +¥6 to ¥36, beat consensus
3Aug 10, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
3,539BUS$22.6BMarket Cap437BUS$2.79B+ Debt315BUS$2.01B− Cash26.4BUS$168M− Inv. Sec.3,635BUS$23.2BEV
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Performance & Balance
Revenue 5Y (¥B)
703US$4.49B'22/3820US$5.23B'23/3922US$5.88B'24/31,036US$6.61B'25/31,132US$7.22B'26/3
EBITDA 5Y (¥B)
175US$1.12B'22/3188US$1.20B'23/3217US$1.38B'24/3243US$1.55B'25/3272US$1.73B'26/3
Net Income 5Y (¥B)
88.8US$566M'22/389.3US$570M'23/3106US$678M'24/3117US$746M'25/3136US$867M'26/3
Capital Structure
79%
21%
EquityD/E 0.26xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
205US$1.31B226US$1.44B'22/3187US$1.19B232US$1.48B'23/3205US$1.31B232US$1.48B'24/3222US$1.42B214US$1.36B'25/3280US$1.79B427US$2.73B'26/3
Shareholders
Top 10 hold 50.4%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
22.30%
2
Custody Bank of Japan, Ltd. (Trust Account)
9.50%
3
The Dai-ichi Life Insurance Company, Limited
3.50%
4
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
3.10%
5
Meiji Yasuda Life Insurance Company
3.00%
6
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
2.00%
7
Terumo Foundation for Life Sciences and Education
2.00%
8
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
1.90%
9
HSBC HONG KONG-TREASURY SERVICES A/C ASIAN EQUITIES DERIVATIVES (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.60%
10
THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
1.50%
Management
10 officers
Toshiaki TAKAGI
Representative Director, Chairman
Apr 1981 Joined the Company Apr 2004 Plant Manager, Aitaka Plant Apr 2008 Plant Manager, Aitaka Plant and Suruga Plant Jun 2008 Executive Officer Jun 2009 Oversight of R&D Headquarters Jun 2010 Director, Senior Executive Officer Jun 2013 Responsible for Quality Assurance Department, Safety Information Management Department, and Environmental Promotion Office Apr 2015 In charge of Terumo Call Center Jul 2015 Chief Quality Officer (CQO) Apr 2016 Director, Managing Executive Officer Apr 2017 In charge of Production Department and Procurement Department Apr 2018 Director, Senior Managing Executive Officer; in charge of Intellectual Property Department and Terumo Medical Planex Apr 2020 Responsible for Regulatory Affairs, Information Provision Management Office, Clinical Development Department, SCM Promotion Office, CIO Office, and Information Strategy Department Apr 2021 In charge of R&D Promotion Department Apr 2022 Representative Director, Chairman (current)
1958-03-24
Hikaru SAMEJIMA
Representative Director, President, CEO
Apr 1988 Joined Toa Nenryo Kogyo K.K. (now ENEOS Corporation) Feb 2001 Joined Citibank, N.A. Jan 2002 Joined the Company Jun 2007 President, Cardiovascular Group Catheter Company (Global) Apr 2014 Executive Officer; President, TIS Business (now Interventional Systems Business), Cardiovascular Company Apr 2016 Senior Executive Officer Apr 2017 President, Cardiovascular Company Apr 2018 Managing Executive Officer Apr 2020 President, Hospital Company (now Medical Care Solutions Company) Apr 2022 Senior Managing Executive Officer Apr 2024 President and CEO Jun 2024 Representative Director, President and CEO (current)
1964-05-27
Toshihiko OSADA
Director, Senior Managing Executive Officer; in charge of Innovation: Corporate R&D, Intellectual Property Department, Clinical Development Department, Regulatory Affairs Department, Terumo Medical Planex, Terumo Ventures
Apr 1989 Joined the Company Jan 2016 General Manager, Corporate Strategy Office Apr 2016 Executive Officer Apr 2018 Senior Executive Officer Apr 2020 Managing Executive Officer; President, Cardiovascular Company; President, TIS Business (now Interventional Systems Business) Apr 2022 Senior Managing Executive Officer Apr 2024 In charge of Innovation: R&D Division (CTO Office, Innovation Center, Technology Management Office, R&D Management Department), DX Promotion Office, Intellectual Property Department, Clinical Development Department, Terumo Medical Planex Jun 2024 Director, Senior Managing Executive Officer (current) Apr 2025 In charge of Innovation: Corporate R&D, Intellectual Property Department, Clinical Development Department, Regulatory Affairs, Terumo Medical Planex, Terumo Ventures Apr 2026 In charge of Innovation: Corporate R&D, Intellectual Property Department, Clinical Development Department, Regulatory Affairs Department, Terumo Medical Planex, Terumo Ventures (current)
1967-01-28
Norimasa KUNIMOTO
Director, Managing Executive Officer; in charge of Corporate Value Promotion: General Affairs & External Relations Department, Legal & Compliance Department, Corporate Communications Department, Domestic Sales General Division, Terumo Call Center, EHS Management Department
Apr 1987 Joined the Company Oct 2011 General Manager, Secretariat Apr 2018 Executive Officer; General Manager, Secretariat Jul 2018 Executive Officer; Regional Representative, Eastern Europe, Russia, Middle East and Africa Apr 2022 Executive Officer; in charge of Europe, Middle East and Africa Region Apr 2023 Managing Executive Officer; in charge of Corporate Value Promotion Division (Corporate Affairs, Corporate Communications Division), Human Resources Division, Domestic Sales Division Jun 2023 Director, Managing Executive Officer (current) Apr 2024 In charge of Corporate Value Promotion: Corporate Affairs, Legal & Compliance Division (CLO Office, Legal Office, Compliance Office), Corporate Communications Division, Domestic Sales Division, Terumo Call Center Apr 2025 In charge of Corporate Value Promotion: Corporate Affairs, Legal & Compliance Division, Corporate Communications Division, Domestic Sales Division, Terumo Call Center, EHS Office Apr 2026 In charge of Corporate Value Promotion: General Affairs & External Relations Department, Legal & Compliance Department, Corporate Communications Department, Domestic Sales General Division, Terumo Call Center, EHS Management Department (current)
1963-07-04
Keiya OZAWA
Outside Director
Mar 1977 Graduated from the Faculty of Medicine, University of Tokyo Mar 1985 Studied at the National Institutes of Health, USA (Fogarty Fellow, until 1987) Sep 1990 Associate Professor, Institute of Medical Science, University of Tokyo Nov 1994 Professor, Department of Hematology Research, Jichi Medical University Feb 1998 Chief Professor, Department of Hematology, Jichi Medical University Apr 1998 Professor, Gene Therapy Research Division, Center for Molecular Medicine, Jichi Medical University Apr 2014 Director, Hospital and Center for Gene and Cell Therapy, Institute of Medical Science, University of Tokyo; Visiting Professor, Department of Immunogenetics and Cell Therapy (Takara Bio), Jichi Medical University Apr 2018 Professor Emeritus and Visiting Professor, Jichi Medical University (current); Program Supervisor, Japan Agency for Medical Research and Development (AMED) (current) Jun 2018 Program Officer, AMED (current) Oct 2018 Senior Advisor, Gene Therapy Research Center, Jichi Medical University (current) Jun 2021 Outside Director of the Company (current) Apr 2023 Visiting Professor, Department of Development of Gene and Cell Therapy for Intractable Diseases, Jichi Medical University Feb 2026 Director, Foundation for Medical Science Research Promotion (current)
1953-02-23
Mari OGISO
Outside Director
Apr 1990 Joined The Long-Term Credit Bank of Japan, Ltd. Jun 1998 Joined the World Bank Jun 2003 Director, Tokyo Office, Multilateral Investment Guarantee Agency (MIGA), World Bank Group Oct 2012 Founder and CEO, i-Incubate Co., Ltd. Oct 2014 Japan Country Representative, Dalberg Japan K.K. Jan 2016 Director, International Programs Planning Department, The Sasakawa Peace Foundation Jul 2017 Leader, Gender Innovation Group, The Sasakawa Peace Foundation Jun 2019 Manager, President's Office, Fast Retailing Co., Ltd. Jan 2021 Representative Director and President, SDG Impact Japan Co., Ltd. (current) Jun 2022 Outside Audit & Supervisory Board Member, Mitsubishi Corporation Jun 2024 Outside Director, Mitsubishi Corporation (retired Jun 2026) Jun 2024 Outside Director of the Company (current) Jun 2026 Outside Director, Rakuten Bank, Ltd. (scheduled to assume office Jun 2026)
1966-11-15
Takanori SHIBASAKI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1986 Joined the Company Jul 2005 Plant Manager, No. 1 Plant, Terumo Medical Products (Hangzhou) Co., Ltd. Sep 2007 Deputy General Manager, Corporate Planning Office Oct 2008 Chairman and General Manager, Terumo Medical Products (Hangzhou) Co., Ltd. Apr 2014 Executive Officer Jul 2014 General Manager, SCM Promotion Office Apr 2016 Chairman and General Manager, Terumo (China) Investment Co., Ltd. Apr 2017 Senior Executive Officer; Regional Representative, China Jun 2021 Director (Full-time Audit and Supervisory Committee Member) (current)
1961-12-25
Keiko HAYASHI
Outside Director (Audit and Supervisory Committee Member)
Apr 1986 Joined Tokyo Regional Taxation Bureau Mar 1994 Registered as Certified Public Accountant Jul 2006 Partner, Tohmatsu Audit Corporation (now Deloitte Touche Tohmatsu LLC) Jul 2016 Managing Director, Japanese Institute of Certified Public Accountants Nov 2018 Representative Director, Tohmatsu Challenged Co., Ltd. Oct 2019 Committee Advisor, D&I Committee, Deloitte Tohmatsu Group Oct 2019 Chair, Audit and Disciplinary Review Committee, Japanese Institute of Certified Public Accountants Jun 2020 Outside Director (Audit and Supervisory Committee Member), Meidensha Corporation (scheduled to retire Jun 2026) Jun 2020 Outside Director, Lifenet Insurance Company Jul 2020 Director, Keiko Hayashi Certified Public Accountant Office (current) Feb 2021 Outside Audit & Supervisory Board Member, Nippon Filcon Co., Ltd. Mar 2021 Supervisory Director, Nippon Building Fund, Inc. (current) Jun 2021 Outside Director (Audit and Supervisory Committee Member), Lifenet Insurance Company Apr 2023 Professor, Graduate School of Accounting, Waseda University (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2026 Outside Director (Audit and Supervisory Committee Member), JAFCO Group Co., Ltd. (current)
1960-08-11
Hisashi NARA
Outside Director
Apr 1985 Joined Yokogawa Hokushin Electric Corporation (now Yokogawa Electric Corporation) Oct 2001 Vice President, Yokogawa Engineering Asia Pte. Ltd. Oct 2003 President, Yokogawa (Thailand) Ltd. Jan 2007 General Manager, First Sales Division, Solutions Business Division, Yokogawa Electric Corporation Apr 2010 Managing Executive Officer; General Manager, Solutions Sales Division, Yokogawa Electric Corporation Jun 2011 Director, Managing Executive Officer; General Manager, Solutions Sales General Division, Yokogawa Electric Corporation Apr 2012 Director, Managing Executive Officer; General Manager, Solutions Service Sales General Division, Yokogawa Electric Corporation Apr 2013 Director, Yokogawa Electric Corporation; Representative Director and President, Yokogawa Solution Service Corporation Apr 2017 Director, Senior Managing Executive Officer; Representative for Japan and Korea, Yokogawa Electric Corporation; Representative Director and President, Yokogawa Solution Service Corporation Apr 2018 Director, Senior Managing Executive Officer; General Manager, Life Innovation Business Division, Yokogawa Electric Corporation Apr 2019 President and Representative Director, Yokogawa Electric Corporation Jun 2024 Director, President and Representative Executive Officer, Yokogawa Electric Corporation Apr 2025 Director, Chairman and Representative Executive Officer, Yokogawa Electric Corporation (current) Jun 2026 Outside Director of the Company
1963-01-23
Soichiro UNO
Outside Director (Audit and Supervisory Committee Member)
Apr 1988 Joined Nagashima Ohno & Tsunematsu (formerly Nagashima Ohno Law Office); registered as attorney Nov 1993 Passed New York State Bar Examination Jan 1997 Partner, Nagashima Ohno & Tsunematsu (current) Jun 2004 Outside Audit & Supervisory Board Member, SoftBank Corp. (now SoftBank Group Corp.) Jun 2018 Outside Director (Audit and Supervisory Committee Member), Dream Incubator Inc. Jun 2019 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1963-01-14
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-05-21
8.06%→8.78%
Massachusetts Financial Services Company
2026-04-21
5.56%→6.56%
Massachusetts Financial Services Company
2026-03-19
5.56%
BlackRock Japan Co., Ltd.
2025-10-17
1.94%→2.30%
Amova Asset Management Co., Ltd.
2025-09-19
4.00%→4.20%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-05-21
Large Shareholding Report
EDINET
2026-04-21
Large Shareholding Report
EDINET
2026-03-19
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-17
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINETAmended
2022-07-26
Amended Annual Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-12-16
中期経営計画
EDINET
2021-11-08
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-23
Annual Securities Report
EDINET
2021-02-08
Quarterly Securities Report
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