Terumo: IR Day at Kofu Factory: Highlighting CDMO, DSS, OrganOx Products

研报英文原文证据摘录

Terumo: IR Day at Kofu Factory: Highlighting CDMO, DSS, OrganOx Products

Update

June 11, 2026 12:29 PM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MTerumo (4543) | Japan Ryotaro Hayashi

Equity Analyst

IR Day at Kofu Factory: Ryotaro.Hayashi@morganstanleymufg.comErina Tokunaga +81 3 6836-8409

Research Associate

Erina.Tokunaga@morganstanleymufg.com +81 3 6836-8418

Highlighting CDMO, DSS,

OrganOx Products

Key Takeaways Terumo (4543.T, 4543 JT)

Terumo's IR Day included a tour of the Kofu factory, its main CDMO site, and Medical Technology | Japan

separate presentations on the business outlook for four internal companies. Stock Rating Equal-weight

Industry View In-Line

The Kofu factory consists of buildings where medical devices and pharmaceuticals Price target ¥2,450

Shr price, close (Jun 11, 2026) ¥2,264

are each manufactured, and a new Kofu Central Building for CDMO business was Mkt cap, curr, basic (bn) ¥3,339.6

constructed on space at the centre of the site originally occupied by a car park. Avg daily trading value (bn) ¥11.9

Operations are currently ramping up on the 1st & 2nd floors of the Kofu Central

building; the 3rd & 4th floors are still vacant, leaving scope for future capacity

expansion.

Most of the factory's CDMO expertise rests with engineers, whose deployment

gives the firm the ability to rapidly start up operations at the Leverkusen plant it

acquired last year.

Other highlights were live demonstrations of DSS imaging systems for catheter

surgery and OrganOx products, and hearing the company's comments on these

businesses.

DSS: Dual sensor systems combine intravascular ultrasound (IVUS) and optical

frequency domain imaging (OFDI) imaging devices in a single piece of equipment.

Philips is another company besides Terumo with IVUS and OFDI technologies, but