Shift to Grow’s Financial Guidance
First written in FY2023. 5 of 11 entries say "Worsened", first in FY2024. Latest entry: 2026-08-07.
The whole theme swung hardest in 2021: 17 of 76 companies on the "Worse" side.
- FY2026ReframedAnnual report
「Specifically, excluding foreign exchange effects, we aim to achieve year-on-year revenue growth of approximately 3% in the fiscal year ending March 2027, approximately 4% in the fiscal year ending March 2028, and approximately 5% in the fiscal year ending March 2029. For the adjusted operating margin, starting from the fiscal year ending March 2026, we aim to achieve continuous annual improvement of approximately 100 basis points or more.」
The previous Shift to Grow guidance was revised to new financial guidance targeting phased revenue growth from the fiscal year ending March 2027 through the fiscal year ending March 2029 and annual improvement in the adjusted operating margin of approximately 100 basis points or more. - FY2026-H1WorsenedAnnual report
「Adjusted operating profit was ¥50.558 billion, down ¥34.510 billion from the same period of the previous year.」
Against the Shift to Grow guidance of an adjusted operating margin of around 20%, adjusted operating profit in FY2026-H1 was ¥50.558 billion, representing approximately 11.1% of revenue. - FY2025WorsenedAnnual report
「The adjusted operating margin was 18.9%, due to an increase in gross profit from higher revenue and the absence of expenses that had been recorded as provisions in cost of sales in the previous fiscal year, among other factors.」
Against the Shift to Grow financial guidance of an adjusted operating margin of around 20%, the FY2025 actual result was 18.9%. - FY2025-H1SoftenedAnnual report
「FY2024 earnings release: ¥1,021 billion, ¥198.5 billion, before reclassification of the Orthopedic Business as a discontinued operation; Q1 FY2025 earnings release: ¥1,009 billion, ¥197.5 billion, continuing operations after reclassification」
Following the reclassification of the Orthopedic Business as a discontinued operation, the FY2025 revenue forecast was revised from ¥1,021 billion to ¥1,009 billion, and the adjusted operating profit forecast from ¥198.5 billion to ¥197.5 billion. - FY2024WorsenedAnnual report
「We are targeting a revenue CAGR of approximately 5% on an annual basis. In the Endoscopy Business, we are targeting a CAGR of 5%, primarily through increased sales of the “EVIS X1” gastrointestinal endoscopy system. In the Therapeutic Solutions Business, we are targeting a CAGR of more than 5% through portfolio expansion and M&A, centered on the 3 areas of gastroenterology, urology and pulmonology. The adjusted operating margin was 16.2%, despite an increase in gross profit from higher revenue, due to expenses for “Elevate,” a comprehensive quality transformation program aimed at sustainable growth, and the development and enhancement of the operating foundation to improve productivity.」
Against the Shift to Grow guidance of approximately 5% revenue CAGR and an adjusted operating margin of around 20%, FY2024 revenue excluding foreign exchange effects increased 0.3% year on year, while the adjusted operating margin was 16.2%. - FY2023First statedAnnual report
「The financial guidance for the 3-year period from the fiscal year ended March 2024 through the fiscal year ending March 2026 is as follows. In the new “Shift to Grow” stage, with a focus on both growth and profitability, we aim to achieve stable value creation and competitive growth by maintaining revenue CAGR of approximately 5% and an adjusted operating margin of around 20%, while targeting EPS CAGR of approximately 8%, exceeding revenue growth.」
For the fiscal years ended March 2024 through March 2026, new financial guidance was established for revenue CAGR of approximately 5%, an adjusted operating margin of around 20%, and EPS CAGR of approximately 8%.