Olympus Corporation (OLYMY) Q4 2024 Earnings Call Transcript | Old North State Wealth News
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Olympus Corporation (OLYMY) Q4 2024 Earnings Call Transcript

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Olympus Corporation (OTCPK:OLYMY) Q4 2024 Earnings Call Transcript May 10, 2024 2:00 AM ET

Company Participants

Stefan Kaufmann – President & Chief Executive Officer
Tatsuya Izumi – Chief Financial Officer
Frank Drewalowski – Executive Officer and Endoscopic Solutions Division Head
Boris Shkolnik – Executive Officer and Chief Quality Officer
Takaaki Sakurai – Vice President, Investor Relations
Seiji Kuramoto – Executive Officer and Therapeutic Solutions Division Head

Stefan Kaufmann

Hello everyone. I am Stefan Kaufmann, CEO of Olympus Corporation. I would like to thank you all for participating in this conference. Fiscal year 2024 provided us with numerous challenges. In this environment, our organization and people have proven to be resilient, our business model to be robust and our relationship with our customers to be stable. For fiscal year 2025, we are confident that we will see a strong recovery, bolstered by the significant potential of our strong business model and our grown self confidence to overcome obstacles. Our purpose and refreshed core values, the three strategic guiding principles of patient safety and sustainability, innovation for growth, and productivity, and the four value pools, build the foundation and define the direction for sustainable growth in the future.

As introduced in our company strategy and in relation to our first priority, Patient Safety and Sustainability, we are implementing numerous initiatives to strengthen our QA/RA system, processes and capabilities over three years from fiscal year 2024 to fiscal year 2026. So far, we have made great progress. To give you a few tangible examples: In fiscal year 2024, we undertook several initiatives to improve our ability to perform Root Cause Analysis, which is central to our efforts to create the most effective Corrective and Preventive Actions. We have also improved our complaint-handling effectiveness, resulting in more consistent Medical Device Reporting and even quicker responses to patient safety signals. Also, our regulatory compliance functions have enhanced their

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