Terumo Corporation
IFRS Financial Results for the First Quarter of theFiscal Year Ending March 31, 2020

－1 －IFRS Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2020
August 8, 2019
Exchange where listed: TSE

Name of listed company: TERUMO CORPORATION(URL http://www.terumo.com/): 4543: Shinjiro Sato, President and CEO: Atsuo Omagari, General Manager, Corporate Communication Dept.
: +81 / 3-6742-8550

Company code number
Representative:
Please address all communications toPhone

1. Consolidated Financial Highlights for the Three Months Ended June 30, 2019(From April 1, 2019 to June 30, 2019)(1) Consolidated operating results(Notes: The amounts shown below ignore values of less than a million yen)

RevenueThree months ended June, 2019
Three months ended June, 2018

Operating profit(Millions of yen)%

(Millions of yen)

152,526
143,020

6.6
2.7

29,16825,875

Basic Earnings per share

Profit before tax% (Millions of yen)

12.7
(9.0)

28,844
23,406

Profit for the period
attributable to theowners of the parent

Profit for the period%(Millions of yen)

23.2
(16.9)

22,751
18,059% (Millions of yen)

26.0
(11.1)

22,791
18,091

Total comprehensive
income for the period%(Millions of yen)%

26.0
(11.0)

2,717
38,534(92.9)
54.0

Diluted Earnings per share(Yen)(Yen)

Three months ended June, 2019
30.67
30.15
Three months ended June, 2018
25.39
23.91
(Notes)Adjusted operating profit: June 2019: 33,949 million yen June 2018: 30,544 million yen
Terumo Corporation (the “Company”) conducted a two-for-one stock split for its common stock effectively on April 1, 2019. Basic earnings per share and diluted earnings per share have been
calculated on the assumption that the stock split had been carried out at the beginning of the previous fiscal year.
(2) Consolidated financial position
Total assets

As of June 30, 2019
As of March 31, 2019

Equity attributable to theowners of the parent

Total equity

Equity attributable to theowners of the parent ratio(Millions of yen)

(Millions of yen)

(Millions of yen)%

1,126,952
1,120,790

691,290
698,113691,191
698,034

61.3
62.3

2. Dividends
Cash dividends per share
1st quarter2nd quarter(Yen)

3rd quarter(Yen)

4th quarter(Yen)

Total(Yen)

(Yen)

－－
Year ended March, 2019
27.00
27.00
54.00
－
Year ended March, 2020－
Year ending March, 2020 (forecast)
14.00
14.00
28.00
(Notes) Revise of dividends forecast : None
The Company conducted a two-for-one stock split for its common stock effectively on April 1, 2019. For the years ended March 2019, the amounts of dividends before the stock split are recorded.
For the second quarter and year-ended dividends in the year ending March 2020 (forecast), the amounts of dividends are recorded in consideration of the effects after the stock split.

3. Consolidated Forecast for the Year Ending March, 2020 (From April 1, 2019 to March 31, 2020)
Revenue(Millions of yen)

Adjusted operating profit%(Millions of yen)%

Profit for the year
attributable to the ownersof the parent

Operating profit(Millions of yen)

Earnings per share%(Millions of yen)

%

(Yen)

308,000
8.1
59,5007.6
52,000
9.3
Half year ending September, 2019Year ending March, 2020
635,000
5.9
124,000
1.5
109,000
2.2(Notes) 1)Revise of forecast for half year ending September, 2019 and fiscal year ending March, 2020 : None
Assumed exchange rate for fiscal year ending March, 2020: USD1=JPY108, EUR1=JPY1232)Earnings per share is calculated by taking consideration effects of the conversion of convertible bond in the three months.
3.

38,50081,000

11.7
1.9

51.81
109.00Among the information that Terumo discloses, forecasts of financial performance on future projections contain potential risks and uncertainty since these are forecasts on projections made by Terumo based onlimited 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 of foreign exchange rates, and state of competition.

－2 －4. Consolidated Financial Statements① Consolidated Statements of Financial Position
As ofMarch 31, 2019

（Unit: Millions of yen）
As ofJune 30, 2019

AssetsCurrent assets
Cash and cash equivalents

122,982

109,842

Trade and other receivables

128,462

122,709

Other current financial assets

1,744

1,525

Inventories134,106

140,606

Other current assets

11,426

12,413

Total current assets

398,722

387,096

Property, plant and equipment

201,986

228,531

Goodwill and intangible assets

468,885

457,981

Non-current assets

Investments accounted for using the equity
methodOther non-current financial assets

5,571

5,501

17,131

20,305

Deferred tax assets

24,62423,203

Other non-current assets

3,868

4,333

Total non-current assets

722,068

739,855

1,120,790

1,126,952

Total assets－3 －（Unit: Millions of yen）
As of
June 30, 2019

As ofMarch 31, 2019
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

81,476

77,577

Bonds and borrowings－741

10,00010,199

6,703

236

224

Other current liabilities

50,25845,173

Total current liabilities

142,912145,126

225,135

212,132

Other non-current financial liabilities

6,607

33,107

Deferred tax liabilities

24,302

23,070Defined benefit liabilities

12,823

13,56988

86

Other non-current liabilities

10,807

8,569

Total non-current liabilities

279,764

290,535

422,677435,662

Share capital

38,71638,716

Capital surplus

52,02952,025

Treasury stock(32,381)(31,917)

Retained earnings

646,223

658,973

Other components of equity(6,553)(26,606)

698,034

691,191

78

98

698,113691,290

1,120,790

1,126,952

Other current financial liabilities
Current tax liabilities
Provisions

5,449

Non-current liabilities
Bonds and borrowings

Provisions

Total liabilities
EquityTotal equity attributable to the owners of theparent
Non-controlling interests
Total equity
Total liabilities and equity－4 －② Consolidated Statements of Profit or LossFor the three months ended
June 30, 2018
143,020
63,16279,85754,8101,289
461
25,875325
2,773（Unit: Millions of yen）
For the three months ended
June 30, 2019
152,526
67,35685,16956,365
1,151
787
29,168
486
767

(20)

(43)

23,406
5,346
18,05928,844
6,092
22,751Attributable to:
Owners of the parent
Non-controlling interests
Total profit for the period

18,091(31)
18,05922,791(39)
22,751

Earnings per share
Basic earnings per share (yen)Diluted earnings per share (yen)

25.39
23.91

30.67
30.15

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Finance income
Finance costs
Share of profit (loss) of investments accounted
for using the equity method
Profit before tax
Income tax expenses
Profit for the period－5 －③ Consolidated Statements of Comprehensive Income

Profit for the period

For the three months ended
June 30, 201818,059（Unit: Millions of yen）
For the three months ended
June 30, 201922,751

(109)

920

(109)

920

20,310(20,853)

177

(22)

97(80)

20,584(20,955)

20,474(20,034)

38,534

2,717

38,566

2,751

(32)

(33)

38,534

2,717

Other comprehensive income
Items that will not be reclassified to profit or loss
Changes in financial assets measured at fairvalue through other comprehensive income
Total items that will not be reclassified to profit
or loss
Items that are or may be reclassified subsequently
to profit or loss
Exchange differences on translation of foreign
operations
Cash flow hedges
Cost of hedging
Total items that are or may be reclassified
subsequently to profit or loss
Other comprehensive income/(loss) for the period
Total comprehensive income for the period
Attributable toOwners of the parent
Non-controlling interests
Total comprehensive income for the period(Note)

Items in the above statement are net of tax.

－6 －④ Consolidated Statements of Changes in Equity（Unit: Millions of yen）
Share
capitalBalance at April 1, 2018
Change in the accounting
principles
Balance after the adjustment
Profit for the period

Equity attributable to the owners of the parent
Other
CapitalTreasury
Retainedcomponents ofsurplus
stock
earnings
equity38,71652,445(101,546)

588,932－－－54

38,71652,445(101,546)

588,986

Noncontrolling Total equity
interests

Total(28,240) 550,307

128

550,43554－

54(28,240) 550,361

128

550,490

－

－

－

－

18,091－

18,091(31)

18,059Other comprehensive income

－－

－

－

20,47520,475(0)

20,474

Total comprehensive income
Acquisition of treasury shares－－－

18,091

20,47538,566(32)

38,534

－

－

(1)

－

－

(1)

－

(1)

Disposal of treasury shares

－

－

75

(23)

(52)

(0)

－

(0)

Dividends－－－(9,549)－ (9,549)－(9,549)Conversion of convertible bonds－(100)

19,323(164)－

19,057－

19,057－(100)

19,397(9,737)

(52)

9,506

－

9,506

38,71652,344(82,149)

597,340(7,817) 598,434

96

598,530

Total transactions with theowners of the Company
Balance at June 30, 2018

（Unit: Millions of yen）
Share
capitalBalance at April 1, 2019
Profit for the period

Equity attributable to the owners of the parent
Other
CapitalTreasury
Retainedcomponents ofsurplus
stock
earnings
equity38,71652,029(32,381)646,223－－－

22,791Other comprehensive income－－－－

Total comprehensive incomeAcquisition of treasury shares－－－

22,791(20,040)

－－

(1)

－

Disposal of treasury shares

－－

18

(5)

Dividends－－－(10,029)

－－

－－

(3)

－
38,716

Change in shares of subsidiaries
due to capital increase
Conversion of convertible bonds
Total transactions with theowners of the Company
Balance at June 30, 2019

Noncontrolling Total equity
interests

Total(6,553) 698,034

78

698,113

22,791(39)

22,751(20,040) (20,040)

5(20,034)

2,751

(33)

2,717

－

(1)

－

(1)

(13)

0－

0－ (10,029)－(10,029)

－－－

53

53

446

(6)

－

436

－

436

(3)

464

(10,041)(13) (9,594)

53(9,540)52,025(31,917)

658,973(26,606) 691,191

98

691,290－7 －－5. Segment information
Reportable segment information
Revenue and operating results of the reportable segments of the Group are described below.
For the first quarter of the fiscal year ended June 30, 2018
（Unit: Millions of yen）
Reportable Segments

Revenue
Revenue from sales
to external customers
Segment Profit(Adjusted operatingprofit)（Adjustment item）
Amortization ofintangible assets
acquired throughbusiness combinations
Non-recurring profit orloss

Adjustments（Note）

Amountrecorded on
consolidated
financialstatements

142,94376

143,020

3,443

29,564979

30,544(2,059)(3,631)(136)(3,767)

Cardiacand
VascularCompany

GeneralHospitalCompany

Blood
Management
Company

79,53538,812

24,59519,8786,243(1,571)－Total(900)

Operating profit

25,875

Finance income

325

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
method(2,773)Pre-tax profit

23,406(20)(Note） Amounts in ‘Adjustments’ are as follows:(1) ¥76 million adjustment to revenue from sales to external customers is mainly proceeds from temporary
staffing that is not attributable to reportable segments.
(2) ¥979 million adjustment to segment profit consists of ¥110 million for “inventories” and ¥868 million for“others”.

－8 －For the first quarter of the fiscal year ended June 30, 2019
（Unit: Millions of yen）
Reportable Segments

Revenue
Revenue from sales
to external customers
Segment Profit(Adjusted operatingprofit)（Adjustment item）
Amortization ofintangible assets
acquired throughbusiness combinations
Non-recurring profit orloss

Adjustments(Note）

Amountrecorded on
consolidated
financialstatements

152,47254

152,526

2,630

32,3981,550

33,949(2,074)(3,862)(150)(4,013)

Cardiac andVascularCompanyGeneral
HospitalCompany

Blood
Management
Company

88,50239,75624,212

24,5275,241(1,787)－Total(767)

Operating profit

29,168Finance income

486

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
method(767)

Pre-tax profit

28,844(43)

Other items(Note） Amounts in ‘Adjustments’ are as follows:(1) ¥54 million adjustment to revenue from sales to external customers is mainly proceeds from temporary
staffing that is not attributable to reportable segments.
(2) ¥1,550 million adjustment to segment profit consists of ¥899 million for “inventories” and ¥651 million for“others”.

－9 －