Medium-Term Management Plan

FY2026–FY2028 Medium-Term Management Plan Click here

Basic Policy for FY2026–2028

Sustainably Improve Profitability by Strengthening End-to-End Solutions Capabilities
Becoming an Innovative Company That Solves Social Challenges Together with Global Partners

Under its Corporate Philosophy, “Contributing to Society through Science and Technology,” and its Management Principle, “Realizing Our Wishes for the Well-Being of Mankind and the Earth,” the Shimadzu Group will create new value in four domains for creating social value—Healthcare, Green, Materials, and Industry—through the pursuit of Planetary Health. In the new Medium-Term Management Plan, we will further evolve our technology-based Customer-In approach and accelerate our transformation into an end-to-end solutions partner that supports customers’ workflows.

• Note: FY2028 figures on this page are calculated based on the assumption that the acquisition of Tescan will be completed and are subject to change depending on future circumstances. FY2028 operating profit is presented on an IFRS basis.

Top Message

Excellence in Science
Toward a Customer-In End-to-End Solutions Partner That Understands Customers Better than They Understand Themselves and Solves Their Challenges through Technologies and Services

Since its founding, Shimadzu has taken on the challenge of developing new technologies and entering new business fields under its Corporate Philosophy, “Contributing to Society through Science and Technology.” Today, with analytical and measuring technologies at its core, Shimadzu operates in the fields of Healthcare, Green, Materials, and Industry to contribute to the well-being of human life and health, the well-being of the Earth, and industrial development and a safe and secure society.
Under the previous Medium-Term Management Plan, we advanced organizational transformation toward a customer-centric model and built the foundation for growth, including a domain-based domestic sales structure, joint development with customers through the North America R&D Center, and the establishment of the Recurring Business Division. On the other hand, changes in the external environment and the impact of upfront investments left profitability improvement as an important management issue going forward.
In the new Medium-Term Management Plan for FY2026–2028, we have set “Sustainably Improve Profitability by Strengthening End-to-End Solutions Capabilities” as our basic policy and will address profitability improvement as our highest priority. We will improve the sales mix through high-value-added new products and recurring revenue, optimize pricing based on customer value, improve the profitability of underperforming products and businesses, and reduce costs on a global basis.
At the same time, we will maximize the value provided to customers by expanding our core businesses in life science, clinical, and recurring revenue, growing overseas businesses in the strategic regions of North America and India, expanding in growth markets such as semiconductors, and evolving our foundation businesses in the Green and Materials domains. In addition, we will strengthen the management foundation that supports sustainable growth through AIX (AI Transformation), human capital management, and enhanced governance.
By 2035, we aim to become a technology-based, end-to-end solutions partner with a Customer-In model and a company with net sales of JPY 1 trillion. Together with partners around the world, the Shimadzu Group will continue to take on social challenges and enhance corporate value on a sustainable basis.

Our Vision

Shimadzu Vision – The Pursuit of Planetary Health

Shimadzu pursues Planetary Health. Through the pursuit of the well-being of human life and health, we aim to contribute to a vibrant society of healthy longevity. Through the pursuit of the well-being of the Earth, we aim to contribute to solving environmental challenges, including responses to climate change. In addition, we will provide value in four domains for creating social value to support industrial development and a safe and secure society.

Our Aspirations and Positioning of the New Medium-Term Management Plan

Built on more than 150 years of accumulated technological expertise, Shimadzu aims to become a technology-based, end-to-end solutions partner with a Customer-In model by 2035. Under the previous Medium-Term Management Plan, we advanced organizational transformation toward a customer-centric model. Under the new Medium-Term Management Plan, we will further accelerate our transformation into a business model that supports customers’ workflows and delivers end-to-end solutions through science and technology.

• Note: Customer-In refers to providing optimal products and services based on the needs of each individual customer.

Review of the Previous Medium-Term Management Plan

Under the previous Medium-Term Management Plan for FY2023–2025, Shimadzu pursued the concept of “Becoming an Innovative Company That Solves Social Challenges Together with Global Partners” while strengthening both technology development and social implementation. Net sales reached JPY 560.7 billion, exceeding the plan target, while operating profit, operating profit margin, ROE, and ROIC fell short of target.

Key Achievements

Net sales and operating profit both reached record highs, and the recurring revenue ratio in the AMI business increased. We also made steady progress in organizational transformation toward a customer-centric model, including the North America R&D Center, the reorganization of the domestic sales structure from product-based to domain-based, the establishment of a global manufacturing headquarters structure, and the creation of the Recurring Business Division and the Clinical MS Solution Center.

Key Challenges

Profitability declined due to changes in the external environment, including China’s economic slowdown, rising materials prices, and higher labor costs, as well as the impact of upfront investments in human capital and M&A. Under the new Medium-Term Management Plan, balancing growth investment with profitability improvement will be a key challenge.

New Medium-Term Management Plan – Three-Year Challenge

FY2026–2028 Medium-Term Management Plan

• Note: FY2028 figures on this page are calculated based on the assumption that the acquisition of Tescan will be completed and are subject to change depending on future circumstances. FY2028 operating profit is presented on an IFRS basis.

Profitability Improvement

Shimadzu plans to raise operating profit margin from 13.1% in FY2025 to 14.7% in FY2028.

Initiative	Main Actions
Improve Sales Mix	Expand the value provided to customers through high-value-added new products and increase the recurring revenue ratio
Optimize Pricing	Implement pricing based on customer value and appropriately pass through cost increases to pricing
Optimize Underperforming Products and Improve the Profitability of Businesses	Improve profitability, particularly in the MED business, and review and optimize underperforming products and businesses
Reduce Costs	Promote globally optimized procurement and production, reduce manufacturing costs, control SG&A expenses, and leverage AI

Expanding Value Provided to Customers

Shimadzu will maximize the value provided to customers by supporting them in obtaining the data they need through end-to-end solutions that support their workflows. Rather than providing stand-alone products, we will deliver total value by combining instruments with consumables, services, data management systems, and, where appropriate, technologies and products from external partners.

Growth Driver	Direction
Expand Core Businesses*1	Deliver high-value-added products and end-to-end solutions centered on Life Science, Clinical, and the Recurring Revenue Business
Expand Overseas Businesses	Drive growth in North America and India through co-creation with customers and strengthened sales and service structures
Expand Business in Growth Markets	Deliver end-to-end solutions in semiconductors through Analytical Intelligence*2, leveraging vacuum and analytical and measuring technologies
Evolve Core Foundation Businesses	Expand business in the Green and Materials domains through international standardization and regulatory compliance
Strengthen AIX	Integrate management, design, and manufacturing data with employees’ tacit knowledge to evolve into an AI-ready corporate group

• 1. Core businesses: Businesses targeted for further growth as pillars of companywide performance and earnings, including key models such as Liquid Chromatographs (LC), Gas Chromatographs (GC), and Mass Spectrometers (MS), as well as the Recurring Revenue Business.
• 2. Analytical Intelligence: A new concept for analytical instruments proposed by Shimadzu. Systems and software operate like skilled technicians, automatically assess system status and results, provide feedback to users, and resolve issues. They also compensate for differences in users’ knowledge and experience with analytical instruments and ensure data reliability.

Financial Strategy

Shimadzu will move toward an optimal capital structure by strengthening cash flow generation while appropriately utilizing external financing. We will carefully evaluate investment effectiveness, prioritize investments that enhance corporate value, and flexibly consider shareholder returns in response to changes in the business environment.

• Note: M&A expenses during the previous Medium-Term Management Plan period include the cost of the Tescan acquisition.

Shimadzu 2035

By 2035, the Shimadzu Group aims to become a company with net sales of JPY 1 trillion. As a technology-based, end-to-end solutions partner with a Customer-In model, we will continue pursuing Planetary Health.

FY2026–FY2028 Medium-Term Management Plan Click here

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