Olympus Reports Second Quarter Fiscal 2027 Financial ResultsCompany Raises FY2027 Revenue, Adjusted Operating Margin and Adjusted EPS Guidance

November 10, 2026

TOKYO, (Nov. 10, 2026) - Olympus Corporation (Olympus), a global MedTech company committed to advancing endoscopy-enabled care, today reported second quarter of the fiscal year ending March 31, 2027, results for the three months ended September 30, 2026. Olympus also raised its revenue, adjusted operating margin and adjusted EPS guidance for FY2027.

Second Quarter Key Highlights

• Revenue of ¥269.2 billion, up 9% year on year (up 1% in constant currency)
• Gastrointestinal Solutions (GIS) business revenue of ¥184.5 billion, up 10% year on year (up 2% in constant currency)
• Surgical and Interventional Solutions (SIS) business revenue of ¥84.6 billion, up 6% year on year (down 1% in constant currency)
• Adjusted operating margin of 17.8%, up 2.8 percentage points year on year
• Adjusted EPS of ¥32, up 38% year on year
• Adjusted free cash flow of ¥14.4 billion, down ¥6.9 billion year on year

“With patient safety and product quality as our highest priorities, Olympus is delivering consistent, reliable results and we are pleased with the progress we continue to make against our three strategic pillars: Innovation-Driven Growth, Simplicity and Accountability,” said Bob White, Representative Executive Officer, President and Chief Executive Officer at Olympus. “ In the second quarter, revenue was primarily driven by broad-based growth across our largest markets in our GIS business, while the SIS business generated sequential improvement as product availability continued to improve. We remain focused on advancing our quality system remediation, sustaining our growth momentum, delivering planned productivity savings, and maintaining disciplined execution against our plan. We are on track to achieve our FY2027 plan as we continue to work toward our FY2027-FY2029 objectives.”

Second Quarter Financial Results

On a consolidated basis, revenue was ¥269.2 billion, up 9% year on year and up 1% in constant currency.

GIS experienced broad-based growth and continued momentum across Olympus’ largest markets, including North America, Europe and APAC. At the same time, the pace of decline moderated in China as Olympus advanced its localization strategy and improved commercial execution. As a result, GIS delivered revenue of ¥184.5 billion, up 10% year on year and 2% in constant currency.

SIS revenue was ¥84.6 billion, up 6% year on year and down 1% in constant currency. In SIS, the core Urology and Respiratory franchises continued to deliver strong growth at 17% and 20% year on year, respectively. Surgical Endoscopy revenue increased 6% year on year. Other Therapeutic Areas revenue declined 26% year on year, primarily due to continued ship-hold impacts on certain surgical device products.

Consolidated revenue was impacted by approximately ¥9.0 billion, mainly due to ship holds and previously disclosed June 2025 FDA-related import alerts, primarily in SIS.

Olympus received the majority of the approximately ¥20.0 billion U.S. tariff refund during the second quarter, recognizing approximately ¥17.0 billion as a reduction in cost of sales and approximately ¥17.8 billion in total, including finance income.

Excluding the one-time refund, adjusted operating margin was 17.8%, up 2.8 percentage points year on year, adjusted EPS was ¥32, up 38% year on year, and adjusted free cash flow was ¥14.4 billion, down ¥6.9 billion year on year. 

Updated FY2027 Guidance

Olympus has raised its revenue and profit guidance for FY 2027:

• Full-year revenue is now expected to be ¥1,064.5 billion to ¥1,076.0 billion. This represents 2.4% to 3.5% constant-currency growth. The lower end of the range was raised from ¥1,055.0 billion, reflecting solid first-half performance and the earlier-than-expected resumption of SIS shipments.
• Adjusted operating margin is now expected to be 15.7% to 16.7%, compared with 15.2% to 16.7% previously.
• Adjusted EPS is now expected to be ¥111 to ¥119, compared with the ¥106 to ¥119 previously.
• The one-time U.S. tariff refund is excluded from adjusted operating profit and adjusted EPS.

“Olympus delivered solid growth and continued operating progress, reinforcing our confidence in the Company’s FY2027-FY2029 objectives,” said Michael Parenti, Executive Officer and Chief Financial Officer of Olympus. “Based on our performance and updated assumptions, we raised the lower end of our full-year revenue guidance and increased our profit guidance. We are encouraged by our momentum and remain focused on disciplined execution against our plan.”

Quality Assurance and Regulatory Update

On October 7, 2026 (U.S. time), Olympus received a Warning Letter from the U.S. Food and Drug Administration (FDA) concerning aspects of the company’s quality management system and related processes based on observations from inspections of facilities in the U.S., Japan and Europe conducted in late 2025. Olympus has accelerated its quality transformation and continues to work constructively with the FDA to demonstrate that its corrective actions are effective and sustainable.

On October 19, 2026 (U.S. time), Olympus announced that the FDA published import alerts for certain products manufactured at certain Olympus facilities, preventing their import into the U.S. until further notice. Olympus does not expect the Import Alerts to have an incremental impact on its FY2027 consolidated financial results, and its guidance remains unchanged.

Second-quarter FY 2027 financial results materials are available LINK here.

This material contains forward-looking statements that reflect management’s current views, plans, and expectations based on information available at the time of preparation. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, future business decisions, and other internal and external factors that may cause the Company’s actual results, performance, achievements, or financial position to be materially different from any future results expressed or implied by these forward-looking statements.

About Olympus

At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide innovative solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states.

For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit the Olympus website and follow the Olympus LinkedIn account .