Financial Results for FYE 3/2009 (Consolidated)

May 13, 2009

Name of listed company: TERUMO CORPORATION( URL http://www.terumo.com/ )Company code number: 4543
Representative:
Akira Takahashi, President
Please address all communications to:
Shouji Hatano, General Manager, Corporate Communication Dept.
Adoption of U.S. accounting standards [Yes/No]: No

Exchange where listed: TSE
Location of headquarters (prefecture):
Tokyo

Phone: +81 / 3-3217 - 6550

1. Consolidated Financial Highlights for the year ended March 2009
(From April 1, 2008 to March 31, 2009)(1) Consolidated financial results(Note: The amounts shown below ignore values of less than a million yen)

Net sales

Operating income

Ordinary income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

302,746306,381

(1.2)
10.8

54,03966,942(19.3)
14.5

52,58064,198(18.1)
10.6

Year ended March, 2009
Year ended March, 2008

Net income(Millions of yen)%

36,87843,382(15.0)
16.5

Year ended March, 2009
Year ended March, 2008

Net income per
Ordinarystockholders' income per
equitytotal assets

Net income per share,
fully diluted

Net income per share
(Yen)

(Yen)

191.86220.30

%

%

%

-

13.0
15.0

13.3
16.5

17.8
21.8

Equity ratio

Book value per share(Notes) 1. Investment income for equity method:
March 2009: 50million yen March 2008: 30million yen(2) Consolidated financial position
Total assets
March 31, 2009
March 31, 2008

Net assets(Millions of yen)

(Millions of yen)

379,064
410,918

278,166
288,867

%

(Yen)

73.4
70.3

1,464.27
1,489.10(Notes) 1.Number of shares outstanding at end of period (consolidated):
March 2009: 189,898,642 shares March 2008: 193,929,531 shares(3) Consolidated statements of cash flows
Cash flows fromoperating activities
Year ended March, 2009
Year ended March, 2008

Cash flows fromfinancing activities

Cash flows frominvesting activities

Cash and cash equivalents,
end of period(Millions of yen)

(Millions of yen)

(Millions of yen)

(Millions of yen)

31,61569,683(23,988)(28,069)(34,820)
3,081

55,06785,377

2.Dividends

Year ended March, 2008
Year ended March, 2009
Year ending March, 2010 (forecast)at 1st half end

Cash dividends per shareat fiscal year end

total

(Ｙen)

(Ｙen)

(Ｙen)

14.00
16.00
16.00

18.00
16.00
16.00

32.00
32.00
32.00

3. Consolidated forecasts for the year ending March 2010 (From April 1, 2009 to March 31, 2010)
Net sales

Half year ended September, 2009

Year ended March, 2010

Operating income

Operatingincome per
Net sales

Net income

Ordinary income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

151,000
315,000(3.8)
4.0

26,00056,000(17.3)
3.6

26,00056,000(20.8)
6.5

17,50037,500(23.9)
1.7(N.B.) Estimated earnings per share (full year): 195.09 yen

Among the information that Terumo discloses, forecasts of financial performance on future projections contain potential risks anduncertainty since these are forecasts on projections made by Terumo based on limited information available at the moment of
disclosure. Accordingly, it should be noted that actual results may differ from those forecasts on projections due to various factors.
Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations offoreign exchange rates, and state of competition.

4. Financial Statements(1) Consolidated Balance Sheet(Millions of yen)March 31, 2008

March 31, 2009

Amount(Assets)
I Current assets

ChangesAmount%218,07253.1%%
193,658

Cash and cash equivalents

87,34357,073

Trade receivable notes/accounts

69,04866,865Inventories

48,738Marchandise and finished goods

51.1%(24,413)(11.2%)(30,269)(2,183)--%(48,738)

33,27233,272Work in process

-

6,373

6,373

Raw material and supplies-

14,945

14,945

Deferred taxes assets

8,998

9,687

688

Other current assets

4,744

6,173

1,429

Allowance for doubtful debts

(801)

(733)

68

II Fixed assets

192,84646.9%

185,406

48.9%(7,440)(3.9%)

1.Tangible assets

112,74427.4%

111,064

29.3%(1,679)(1.5%)

Buildings and structures

44,121

41,545(2,576)

Machinery and transportation equipment

35,60233,067(2,535)Land

20,40420,303

(100)

548

548
2,171

Finance lease asstes-

Construction in progress

6,412

8,584

Other tangible assets

6,202

7,015

2.Intangible assets

35,125

8.6%

32,747813
8.6%(2,378)Goodwill

30,202

26,823(3,379)Other intangible assets

4,922

5,923

1,000

3.Investments and other assets
Investment in securities

44,976

10.9%

41,59311.0%(3,382)

40,527

23,686

Deferred tax assets

1,878

11,528

9,650

Other investments and other assets

2,570

6,378

3,808

Total assets

410,918

100.0%

379,064(6.8%)(7.5%)(16,841)100.0%(31,854)(7.8%)

(Millions of yen)March 31, 2008

March 31, 2009

AmountAmount(Liabilities)
I Current Liabilities

Changes%
114,457

27.9%%
93,70024.7%%(20,756)

Trade notes/accounts payable

27,24527,812

567

Short-term bank loans

35,00025,190(9,810)

Short-term lease payable

161

161

Income taxes payable

17,802

6,022(11,779)

Reserve for employees bonuses

4,782

4,758

(24)

Reserve for directors bonuses

189

172

(17)

Diferred tax liabilities

197

173

(24)

Notes/Accounts payable-trade for Machinery & Equipment

5,646

5,605

(40)

Other current liabilities

23,593

II Long-term Liabilities-

Long-term lease payable
Deferred tax liabilities
Reserve for retirement allowances
Reserve for retirement benefits for directors and corporate auditors
Other long-term liabilities

23,804

7,593

1.8%
-

7,196

211
1.9%

(396)

(5.2%)

409

409

36

103

67

4,263

3,691

(572)

728

659

(68)

2,565

(18.1%)

2,331

(233)

Total Liabilities

122,05129.7%

100,897

26.6%(21,153)(17.3%)

I Shareholders' equity

291,62471.0%

303,005

80.0%

11,381

3.9%

Capital stock

38,716

38,716-

Capital surplus

59,03059,030-Retained earnings

252,667

282,058

29,390Treasury stock(58,790)(76,800)(18,009)

II Evaluation difference and foreign currency exchange adjustments(2,843)-0.7%(24,942)(6.6%)(22,098)

Evaluation difference of investment securities

5,026(5,118)(10,144)

Foreign currency translation adjustments(7,869)(19,823)(11,953)

III Minority interests

777.1%

87

0.0%

104

0.0%

16

19.0%

Total net assets

288,86770.3%

278,166

73.4%(10,700)(3.7%)

Total liabilities, net assets

410,918

100.0%

379,064100.0%(31,854)-7.8%

(2) Consolidated Statement of Income(Millions of yen)
Year ended

Year ended

March 31, 2008

March 31, 2009

AmountAmount%I Net sales

306,381

II Cost of sales
Gross Profit on Sales
III Selling, General and Administrative Expenses
Operating Profit

Changes%100.0%

302,746%

100.0%(3,634)-1.2%

138,17945.1%

144,506

47.7%

6,326

4.6%

168,201

54.9%

158,240

52.3%(9,961)-5.9%

101,25933.1%

104,200

34.5%

2,941

2.9%

66,942

21.8%

54,03917.8%(12,902)-19.3%

(15)

-0.6%

IV Non-operating Income
Interest income

1,314

1,193

Dividend income

488

508

20

Royalties

202

136

(66)

Equity in earnings of unconsolidated companies

30

Other non-operating income

636

(121)

50
2,673

0.9%

20

768

2,657

0.9%

131

V Non-operating Expenses
Interest expenses

320

232

Sales discount

514

540

26

3,524

2,349

(1,174)

383

531

148

-

432

432

Foreigh exchange loss
Loss on disposal of inventories
Expense for a settlement
Other non-operating expenses

674

Ordinary Profit

5,416

1.7%

64,198

21.0%

(87)

29

4,117

1.3%

52,580

17.4%

(644)

(1,298)-24.0%(11,618)-18.1%(1,409)-92.2%VI Extraordinary Profit
Gain on sales of fixed assets

9

17

7

Gain on sales of marketable securities

-

80

80

21

22

0

Gain on reversal of allowance for bad debt
Adjustment to allocate for acquisition of overseas subsidiary

438

Gain on relating to acquisition of newly affiliated company

1,059

1,529

0.4%

-

(438)
119

0.0%

(1,059)Ⅶ Extraordinary Losses
Loss on disposal of fixed assets
Valuation loss of marketable securities
Valuation loss of golf membership
Impairment loss

225

299

74

-

37

37

156

Income Before Taxes
Corporate, Inhabitant and Enterprise Taxes
Deferred Taxes (reduction)
Minority Interest Income (loss) of consolidated companies
Net Income for the Period

10
382

0.1%

65,346

21.3%

347

0.1%

52,353

17.3%

21,935

7.1%

15,439

5.1%

28

0.0%

34

0.0%

6

43,382

21.4%

14.2%

36,87812.2%(6,504)-15.0%

22,410(475)

10-17,788(2,348)

(156)

(35)

(9.2%)(12,993)-19.9%(6,495)-29.6%(4,621)(1,873)

(3) Statement of changes in net assets

Year ended March 2008
Beginning of period
Changes during this fiscal accounting period
Delivery of dividends
Interim net income
Acquisition of treasury stock
Changes of items other than capital stock (net)Total changes during this fiscal accounting periodEnding of period

Year ended March 2008
Beginning of period
Changes during this fiscal accounting period
Delivery of dividends
Interim net income
Acquisition of treasury stock
Changes of items other than capital stock (net)Total changes during this fiscal accounting periodEnding of period

Year ended March 2009
Beginning of period
IFRS Adjustment
Changes during this fiscal accounting period
Delivery of dividends
Interim net income
Acquisition of treasury stock
Changes of items other than capital stock (net)Total changes during this fiscal accounting periodEnding of period

Year ended March 2009
Beginning of period
IFRS Adjustment
Changes during this fiscal accounting period
Delivery of dividends
Interim net income
Acquisition of treasury stock
Changes of items other than capital stock (net)Total changes during this fiscal accounting periodEnding of period

Capital stock
38,716

Capital surplus
59,030(Millions of yen)
Shareholders' equity
Retained earnings
Treasury stock
Shareholders' equity total(33,453)
279,507215,213(5,928)43,382

38,71659,03037,453
252,667(25,337)(5,928)43,382(25,337)(25,337)(58,790)

12,116291,624

Evaluation difference and foreign currency exchange adjustments
Evaluation difference ofForeign currency
Evaluation difference andinvestment securities
translation adjustments
foreign currency exchange
adjustments total
8,947
725
9,672

(3,921)(3,921)
5,026

Capital stock
38,716

Capital surplus
59,030(8,595)(8,595)(7,869)(12,516)(12,516)(2,843)59,030Net assets
total
289,248

19
19
87(5,928)43,382(25,337)(12,496)(380)
288,867(Millions of yen)
Shareholders' equity
Retained earnings
Treasury stock
Shareholders' equity total
252,667(58,790)291,624(894)(894)(6,593)36,87838,716

Minority
interests
68

30,284
282,058(18,009)(6,593)36,878(18,009)(18,009)(76,800)

12,275303,005

Evaluation difference and foreign currency exchange adjustments
Evaluation difference ofForeign currency
Evaluation difference andMinority
investment securities
translation adjustments
foreign currency exchangeinterests
adjustments total
87
5,026(7,869)(2,843)(10,144)(10,144)(5,118)(11,953)(11,953)(19,823)(22,098)(22,098)(24,942)

16
16
104

Net assets
total
288,867(894)(6,593)36,878(18,009)(22,081)(9,806)278,166(4) Consolidated Statements of Cash Flows(Millions of yen)I

Year ended

Year ended

March 31, 2008

March 31, 2009

Income before taxes

65,34652,353

Depreciation and amortization

16,63918,192

Cash flows from operating activities

Impairment loss
Amortization of goodwill
Investment income for equity method
Increase(decrease) in reserve for retirement allowance

156

-

1,173

2,189

(30)

(50)

(2,242)

(366)

-

(68)

Increase(decrease) in allowance for retirement benefits for directors
Increase(decrease) in allowance for bad debt

(75)

(5)

Increase(decrease) in reserve for directors bonuses

20

(17)

Interest income and dividend income(1,803)(1,702)

Interest expenses

320

232

Exchange loss (gain)

463

Expense for a settlement

506-

Loss on disposal of fixed assets

225

Gain on sales of fixed assets

432
299

(9)

(17)

Loss (gain) on sales of marketable securities

-

(80)

Loss on valuation of marketable securities-

37

Loss on sales and impairment of golf membership-

10

Adjustment to allocate for acquisition of overseas subsidiary(438)

Gain on relating to acquisition of newly affiliated company(1,059)-Decrease(increase) in trade receivable(1,218)(450)

Decrease(increase) in inventories(5,080)(8,477)

Increase(decrease) in trade payable

2,698

629

Others

5,731(3,862)

Subtotal

80,81659,785Gain of loss interests and dividends

1,904

1,880

Interest paid

(244)

Repayment for a settlement

-

(290)

-

(432)

Corporate tax paid

(12,792)(29,326)

Cash flow provided by operating activities

69,68331,615

Payment for making fixed-term deposits(5,831)(5,741)

Refund of cash in bank

5,354

5,486

(15,954)(17,836)

II Cash flows from investing activities

Capital expenditure
Proceeds from sales of tangible assets

917Capital expenditure for intangible assets(453)(2,405)

Payments for purchase of marketable securities(12,194)(802)

Proceeds from sales of marketable investments

1,000

Capital gain on sale of marketable securities
Payment for acquisition newry consolidated company
Net cash used in investing activities

-

580

-

(3,286)(28,069)(23,988)

34,771(10,090)

III Cash flows from financing activities
Increase(decrease) in short-term debt
Repayment of long-term debt

(423)

-

Buyback of treasury stock(25,337)(18,009)

Repayment of financial lease
Dividends paid
Net cash used in financing activities

-

(127)

(5,928)(6,593)

3,081(34,820)

IV Effect of exchange rate changes(2,366)(3,116)

V Net increase(decrease) in cash and cash equivalents

42,328(30,310)

VI Cash and cash equivalents at beginning of period

43,04985,377

Ⅶ Cash and cash equivalents at end of period

85,37755,067

(5)Notes

Relating to balance sheet(Millions of yen)

Accumulated depreciation of tangible assets

March 31, 2008

March 31, 2009

202,058

208,791

Ending balance of investment in securities to nonconsolidated subsidiaries and related companies(Millions of yen)

Investment in securities

March 31,2008

March 31,2009

2,751

2,638

Relating to statement of income
I Main items among selling, general and administrative expenses(Millions of yen)March 31,2008

March 31,2009

Promotion and Advertisement fee

10,45010,919Transportation and Packaging cost

8,983

9,094

Salaries

24,44225,033

Provision for bonuses

5,338

5,419

Pension

1,592

1,839

R&D expenditure

15,754

17,158Depreciation

3,369

3,354

189

172

15,754

17,158Provision of the reserve for directors' bonuses
II R&D expenditure
III Itemized statement of Gain on sales

March 31,2008

Machinery and transportation equipment
Other tangible fixed assets
Total Gains on sales of fixed assets

90
9March 31,2009

16
0
17

IV Itemized statement of Loss on disposal of assets
March 31,2008

Buildings and structures
Machinery and transportation equipment
Other tangible fixed assets
Total Loss on disposal of fixed assets

33
134
57
225

March 31,2009

79
169
50
299

V Impairment loss
(Millions of yen)
Location
Application
Assortment

Impairment AmountAmountMarch 31,2008

March 31,2009

Fujinomiya, Shizuoka
Transfusion-related eqipment
Buildings andstructures
40
Machinery andtransportation
114
Other tangible
assets1
156-

Relating to statement of cash flows
Reconciliation of cash and cash equivalents on the annual consolidated balance sheet.
(Millions of yen)March 31,2008

Cash on hand and in banks
Time deposits, bonds and other with original
maturity exceedinga three-month period
Cash and cash equivalents

March 31,2009

87,34357,073(1,965)85,377(2,006)55,067

Assets and liabilities of the newly consolidated company at the acquisition date,
the acquisition price and the net disbursement

Year ended
March 31, 2008

(Millions of yen)
Year ended
March 31, 2009

Terumo Clinical Supply Co., Ltd.

Current assets
Fixed assets
Goodwill
Current liabilities
Fixed liabilities
Acquision priceCasn and cash equivalent
Net disbursement

-

1,984
739
1,857
(853)
(180)
3,548
(261)
3,286

Relating to Statement of changes in net assets(1) Year ended March, 2008
I Category and total number of issued stock and treasury stock(Thousand)

Beginning balance

Increase during
this fiscal period

210,876
Issued stock : Common stock
12,087
Treasury stock : Common stock
Note : The increase or treasury stock is from taking up odd stock.

Decrease during
this fiscal period

4,859

Ending balance-

210,876
16,946

II Items on dividend
Delivery of dividends(Resolution)
Annual meeting of stockholders held on June
28, 2007

Category of stock

Dividend(millionsyen)Common stock

3,180

A board of directors held on October 29,2007

Common stock

Dividend
per share(yen)

Dividend record date

Effective date16

March 31,2007

June 29,2007

2,747

14

September 30,2007

December 10,2007

Dividend(millionsyen)The
original
capital of
dividend

Dividend
per share(yen)

Earned3,490 surplus

18

Devidends recorded in this fiscal period but effective in the next period(Resolution)
Annual meeting of stockholders held on June27, 2008

Category of stock

Common stock

Dividend record date

Effective date

March 31,2008

June 30,2008

(2) Year ended March, 2009
I Category and total number of issued stock and treasury stock(Thousand)

Beginning balance

Increase during
this fiscal period

210,876
Issued stock : Common stock
16,946
Treasury stock : Common stock
Note : The increase or treasury stock is from taking up odd stock.

Decrease during
this fiscal period

4,030

Ending balance-

210,876
20,977

II Items on dividend
Delivery of dividends(Resolution)
Annual meeting of stockholders held on June
27,2008

Category of stock

Dividend(millionsyen)Common stock

3,490

A board of directors held on October 30,2008

Common stock

Dividend
per share(yen)

Dividend record date

Effective date18

March 31,2008

June 30,2008

3,102

16

September 30,2008

December 8,2008

Dividend(millionsyen)The
original
capital of
dividend

Dividend
per share(yen)

Earned3,038 surplus

16

Devidends recorded in this fiscal period but effective in the next period(Resolution)
Annual meeting of stockholders held on June
19, 2009

Category of stock

Common stock

Dividend record date

Effective date

March 31,2009

June 22,2008

5. Segment Information(1) Business Segments(Millions of yen)
Year ended
March 31, 2009
AmountOperatingincome

Sales
General hospital products

146,496

30,819Cardiac & Vascular products

127,034

32,956

Blood Transfusion products

23,871

3,335

Home Health Care products

5,344

152

-

(13,224)

302,746

54,039Corporate expenses
Total(Millions of yen)
Year ended
March 31, 2008
AmountOperatingincome

Sales
General hospital products

152,019

36,734

Cardiac & Vascular products

124,754

37,856

Blood Transfusion products

23,544

3,555

Home Health Care products

6,063

365

-

(11,569)

306,381

66,942

Corporate expenses
Total(Note) Main products belonging to each product segment
Product segments
General hospital products
Disposable medical devices
and Medical electronics
Pharmaceuticals

Main products

Syringes, Needles, Solution Administrative sets, I.V.catheters, Blood collection
tubes, Electronic medical equipments, etc.
I.V.solutions, Prefilled syringes, Nutritional products, etc.

CAPD products

Dialysis solutions, etc.

Diabetes care products (Hospital)

Blood glucose monitors, etc.

Home parenteral nutrition and oxygen

Home infusion systems, Home oxygen systems, etc.

Cardiac and Vascular products

Cardiovascular systems

Angiographic catheters, PTCA catheters, Coronary stents, Cerebral aneurysm
coils, etc.
Oxygenarators, Roller pumps, Blood tubing sets, etc.

Vascular grafts

Artificial vascular grafts

Blood transfusion products

Blood bags, Medical electronic equipments for blood collection, etc.

Consumer Health Care Products

Digital Thermometers, Blood pressure monitors, Blood glucose monitors(OTC), etc.

Interventional systems

(2) Geographic segments(Millions of yen)
Year ended
March 31, 2009
AmountSales to customer

OperatingincomeInternal salesJapan

162,155

46,99751,404

Europe55,701

4,185

7,029

Americas56,548

5,770

2,475

Asia and others

28,341

15,3497,410-(72,301)(14,280)

302,746-

54,039Corporate expenses
Total(Millions of yen)
Year ended
March 31, 2008
AmountSales to customer

OperatingincomeInternal salesJapan

162,538

45,803

61,205

Europe56,772

3,364

8,492

Americas58,801

6,286

3,631

Asia and others

28,26914,616

6,626-(70,071)(13,014)306,381-

66,942

Corporate expenses
Total(3) Sales results by regions(Millions of yen)
Year ended
March 31, 2009
Amount%Japan

162,049

53.5%

Europe55,701

18.4%

Americas56,548

18.7%

Asia and others

28,447

9.4%

Total

302,746

100.0%

Year ended
March 31, 2008
Amount%Japan

162,45053.0%

Europe56,772

18.5%

Americas58,801

19.2%

Asia and others

28,357

9.3%

Total

306,381100.0%(Note) Sales in 'Asia and others' includes direct sales from Japan.