Terumo CorporationAug 6, 2014

Q&A Session at the Financial Results Briefing for the First Quarter of the Fiscal YearEnding March 31, 2015

Outlined below are the principal Q&As from the financial results briefing of August 6, 2014. Certain
details have been expanded or modified to provide readers with a deeper understanding of Terumo
Corporation’s performance and activities.

Q1：Q1 operating income already achieved 58% of 1H guidance. In addition, SG&A expenses seem
to progress at a slow pace compared to the full-year projection. If the same level continues fromQ2 onwards, operating income is expected to exceed the FY14 guidance. Will not the company
revise the FY14 guidance?
A1：In FY2014, we anticipate the cost of investment in TCVS quality system improvement to incuras planned, while the cost in Q1 was JPY500 million less than that of Q1 FY2013. SG&A
expenses should increase compared to FY2013, due mainly to investment increase inreinforcing sales force of Interventional Systems in the U.S. and Europe, as well as expansionof sales promotion for “Ultimaster” and other new products. Amortization costs are also
expected to incur in relation to investment in IT systems which have begun operation. R&Dexpenses are progressing on track, while development cost will decrease in regard to next
generation implantable left ventricular assist system entered into strategic alliance lastyear. As sales and profits have progressed almost in line with the FY14 plan, we have notchanged the current guidance for FY2014.

Q2：According to the FY2014 guidance, the company expects the increase in operating income to be
JPY3.8 billion resulted from plant productivity improvement and cost reduction. Of thisincrease, JPY1.4 billion has already realized in Q1. Can we expect the same level increase fromQ2 onwards?
A2：In Q1, the cost of investment in TCVS quality system improvement was JPY500 million lessthan that of Q1 FY2013. That amount is included in the said JPY1.4 billion increase. As
planned, we will pursue plant productivity improvement by sales growth of Cardiac & VascularCompany and profitability improvement of General Hospital Company.

Q3：How is the progress of performance in Cardiac & Vascular Company and General HospitalCompany compared to the full-year plan?
A3：In Cardiac & Vascular Company, sales and profits are progressing almost in line with the1
The information contained in this report does not constitute an inducement to engage in any investment activity related to Terumo. The opinions and projections contained inthis report are based on our assessments when the material was being prepared. The accuracy of this information cannot be guaranteed and the information may be subject tochange without notice. Please be advised that Terumo or any party providing this information will not accept any liability for any damages that result from the use of thisinformation.

Terumo Corporation
Aug 6, 2014
full-year plan, as overseas sales of Interventional Systems were robust in Q1. In General
Hospital Company, reduced manufacturing cost of General Hospital Products contributed
improvement in profitability in Q1, while sales was slightly weaker than plan and decreased
year on year due to the impact of reimbursement price cut and recoil reduction in demandfollowing the consumption tax increase in Japan. We expect profitability of General HospitalCompany to improve steadily.

Q4：The Cardiac & Vascular Company operating profit margin has improved from 19% in the same
period last year to 21%. Are there any contributions resulted from new products launch orimproved manufacturing costs?
A4：Cost reduction efforts in Ashitaka factory and production transfer to Vietnam factory contributed
to operating margin improvement. We aim to achieve further improvement going forward.

Q5：Are medical institutions in Japan demanding more price reductions in the wake of theconsumption tax hike?
A5：Prices are falling in line with our expectations. The fall this year is not particularly pronounced
compared to last year.

Q6：Could you explain specifically about the impairment losses booked in Q1? Are these newimpairment losses resulted from “taking inventory of each business profitability?”
A6：This is the impairment losses for additional investment in CV business carried out last year.
There is no new impairment losses resulted from “taking inventory of each businessprofitability.”

2The information contained in this report does not constitute an inducement to engage in any investment activity related to Terumo. The opinions and projections contained inthis report are based on our assessments when the material was being prepared. The accuracy of this information cannot be guaranteed and the information may be subject tochange without notice. Please be advised that Terumo or any party providing this information will not accept any liability for any damages that result from the use of thisinformation.