Financial Results for the Fiscal Year Ending March 31, 2010
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

12-May-10

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

Phone: +81 / 3-3217 - 6550

1. Consolidated Financial Highlights for the year ended March 2010
(From April 1, 2009 to March 31, 2010)(1) Consolidated financial results(Note: The amounts shown below ignore values of less than a million yen)

Net sales

Operating income

Ordinary income

Net income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

316,009302,746

4.4△ 1.2

63,28254,03917.1△ 19.363,611
52,58021.0△ 18.1

40,72136,87810.4△ 15.0Year ended March, 2010
Year ended March, 2009

(Yen)

Year ended March, 2010
Year ended March, 2009

Operating
Net income per
Ordinarystockholders' income per income per Net
sales
equitytotal assets

Net income per share,
fully diluted

Net income per share(Yen)

214.44
191.86

-

%

%

%

13.7
13.0

15.8
13.3

20.0
17.8

(Notes) 1. Investment income for equity method:
March 2010: 81million yen March 2009: 50million yen(2) Consolidated financial position
Total assets
31-Mar-10
31-Mar-09

Net assets(Millions of yen)

(Millions of yen)

425,507379,064

317,139
278,166

Equity ratio

Net assets per share

%

(Yen)

74.5
73.4

1,668.93
1,464.27(Notes) 1.Number of shares outstanding at end of period (consolidated):
March 2010: 189,895,067 shares March 2009: 189,898,642 shares(3) Consolidated statements of cash flows
Cash flows fromoperating activities
Year ended March, 2010
Year ended March, 2009

Cash flows frominvesting activities

Cash flows fromfinancing activities

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

(Millions of yen)

(Millions of yen)

(Millions of yen)

67,352
31,615△ 25,273△ 23,988△ 11,487△ 34,820

84,87755,067

2.Dividends

Year ended March, 2009
Year ended March, 2010
Year ending March, 2011 (forecast)at 1st half end

Cash dividends per shareat fiscal year end

total

(Ｙen)

(Ｙen)

(Ｙen)

16.00
16.00
16.00

16.00
16.00
16.00

32.00
32.00
32.00

3. Consolidated forecasts for the year ending March 2011 (From April 1, 2010 to March 31, 2011)
Net sales

Half year ended September, 2010

Year ended March, 2011

Operating income

Ordinary income

Net income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

164,000
333,000

3.8
5.4

32,60065,2000.2
3.0

32,50065,0000.8
2.2

20,80041,5000.1
1.9(N.B.) Estimated earnings per share (full year): 218.54 yenAmong 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)
31-Mar-09

AmountAmount(Assets)
I Current assets

Changes

31-Mar-10%
193,658

51.1%%
230,43154.2%%
36,773

Cash and cash equivalents

57,073

90,102

33,028Trade receivable notes/accounts

66,86571,7984,933

Marchandise and finished goods

33,272

34,180907

Work in process

6,373

6,143

(230)

Raw material and supplies

14,945

14,741(203)

Deferred taxes assets

9,687

9,086

(600)

Other current assets

6,173

5,071

(1,101)

Allowance for doubtful debts

(733)

(693)

19.0%

39

II Fixed assets

185,406

48.9%

195,076

45.8%

9,670

5.2%

1.Tangible assets

111,06429.3%

114,030

26.8%

2,695

2.7%

Buildings and structures

41,54545,533

3,988

Machinery and transportation equipment

33,067

29,345(3,721)Land

20,303

20,285

(18)

548

665

116

Construction in progress

8,584

11,941

3,357

Other tangible assets

7,015

6,259

Finance lease asstes

2.Intangible assets

32,747

8.6%

30,129Goodwill

26,823

22,989Other intangible assets

5,923

7,140

3.Investments and other assets

41,59311.0%

50,915(756)
7.1%(2,617)(3,834)
1,216

11.9%

9,321

Investment in securities

23,68638,86815,181

Deferred tax assets

11,528

6,614(4,914)

Other investments and other assets

6,378

5,433

(945)

Total assets

379,064100.0%

425,507(8.0%)

100.0%

46,443

22.4%

12.3%

(Millions of yen)
31-Mar-09

Amount(Liabilities)
I Current Liabilities

Changes

31-Mar-10

Amount
%93,70024.7%%
99,731

23.5%

%
6,030

6.4%

Trade notes/accounts payable

27,81227,367(445)

Short-term bank loans

25,19020,000(5,190)

Short-term lease payable

161

219

58

Income taxes payable

6,022

12,994

6,972

Reserve for employees bonuses

4,758

4,898

140

Reserve for directors bonuses

172

161

(11)

Deferred tax liabilities

173

7

(165)

Notes/Accounts payable-trade for Machinery & Equipment

5,605

8,031

2,426

Other current liabilities

23,804

26,0492,245

II Long-term Liabilities

7,196

1.9%

8,636

2.0%

1,439

20.0%

Long-term lease payable

409

463

53

Deferred tax liabilities

103

40

(62)

3,691

4,677

986

Reserve for retirement allowances
Reserve for retirement benefits for directors and corporate auditors
Other long-term liabilities

659

658

(1)

2,331

2,795

463

Total Liabilities

100,89726.6%

108,367

25.5%

7,470

I Shareholders' equity

303,005

80.0%

337,633

79.3%

34,6287.4%
11.4%

Capital stock

38,716

38,716-

Capital surplus

59,03059,030-Retained earnings

282,058

316,703

34,645

Treasury stock(76,800)(76,817)(17)

II Evaluation difference and foreign currency exchange adjustments(24,942)(6.6%)(20,711)(4.9%)

4,230

Evaluation difference of investment securities(5,118)

2,335

7,454

Foreign currency translation adjustments(19,823)(23,046)(3,223)

III Minority interests

104

0.0%

218

0.1%

114

(17.0%)

109.7%

Total net assets

278,166

73.4%

317,13974.5%

38,972

14.0%

Total liabilities, net assets

379,064100.0%

425,507100.0%

46,443

12.3%

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

Year ended

31-Mar-09

31-Mar-10

AmountChangesAmount%%%I Net sales

302,746

100.0%

316,009100.0%

13,262

II Cost of sales

144,506

47.7%

149,659

47.4%

5,153

3.6%

158,24052.3%

166,350

52.6%

8,109

5.1%

104,200

34.5%

103,067

32.6%(1,133)(1.1%)

54,03917.8%

63,282

20.0%

9,242

17.1%

(1,046)(39.4%)(2,835)(68.9%)

11,031

21.0%

(113)

(94.4%)(134)(38.8%)

11,05321.1%

Gross Profit on Sales
III Selling, General and Administrative Expenses
Operating Profit

4.4%

IV Non-operating Income
Interest income

1,193

388

(805)

Dividend income

508

333

(174)

Royalties

136

142

6

Equity in earnings of unconsolidated companies

50

81

30

-

169

169

Incentive received
Other non-operating income

768

2,657

0.9%

495

1,611

0.5%

(273)

V Non-operating Expenses
Interest expenses
Sales discount

232

169

(63)

540

574

33

2,349

84

(2,264)

Loss on disposal of inventories

531

159

(371)

Expense for a settlement

432

Other non-operating expenses

29

Foreigh exchange loss

Ordinary Profit

4,117

1.3%

52,580

17.4%

293

(432)
1,281

0.4%

63,611

20.1%

263

VI Extraordinary Profit
Gain on sales of fixed assets

17

Gain on sales of marketable securities

80

Gain on reversal of allowance for bad debt

22

3

(13)
-

119

0.0%

3

(80)
6

0.0%

(19)

Ⅶ Extraordinary Losses
Loss on disposal of fixed assets

299

189

(110)

Valuation loss of marketable securities

37

1

(35)

Valuation loss of golf membership

10

Impairment loss-

Income Before Taxes
Corporate, Inhabitant and Enterprise Taxes

17,788Deferred Taxes (reduction)(2,348)

Minority Interest Income (loss) of consolidated companies
Net Income

347

0.1%

52,353

17.3%

20

(10)
212

0.0%

63,40620.1%

22,432
169

20

4,643

15,4395.1%

22,601

7.2%

7,161

46.4%

34

0.0%

82

0.0%

2,518

47

137.2%

36,87812.2%

40,721

12.9%

3,843

10.4%

(3) Statement of changes in net assets

Year ended March 2009
Beginning of period
IFRS Adjustment
Changes during this fiscal year
Delivery of dividends
Net income
Acquisition of treasury stock
Changes of items other than shareholders' equity (net)Total changes during this fiscal year
Ending of period

Year ended March 2009
Beginning of period
IFRS Adjustment
Changes during this fiscal year
Delivery of dividends
Net income
Acquisition of treasury stock
Changes of items other than shareholders' equity (net)Total changes during this fiscal year
Ending of period

Year ended March 2010
Beginning of period
Changes during this fiscal year
Delivery of dividends
Net income
Acquisition of treasury stock
Changes of items other than shareholders' equity (net)Total changes during this fiscal year
Ending of period

Year ended March 2010
Beginning of period
Changes during this fiscal year
Delivery of dividends
Net income
Acquisition of treasury stock
Changes of items other than shareholders' equity (net)Total changes during this fiscal year
Ending of period

Capital stock
38,716

Capital surplus
59,030(Millions of yen)
Shareholders' equity
Retained earnings
Treasury stock
Shareholders' equity total
252,667(58,790)291,624(894)(894)(6,593)36,87838,71659,03030,284
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(2,843)
5,026(7,869)Net assets
total
288,867
(894)

16
16
104

(6,593)36,878(18,009)(22,081)(9,806)278,166

Evaluation difference and foreign currency exchange adjustments
Evaluation difference ofForeign currency
Evaluation difference andMinority
investment securities
translation adjustments
foreign currency exchangeinterests
adjustments total(5,118)(19,823)(24,942)104

Net assets
total
278,166(10,144)(10,144)(5,118)

Capital stock
38,716

Capital surplus
59,030(11,953)(11,953)(19,823)(22,098)(22,098)(24,942)(Millions of yen)
Shareholders' equity
Retained earnings
Treasury stock
Shareholders' equity total
282,058(76,800)
303,005(6,076)
40,721

38,71659,030

7,454
7,454
2,335

34,645
316,703(3,223)(3,223)(23,046)(17)(6,076)
40,721(17)(17)(76,817)

34,628337,633

4,230
4,230
(20,711)

114
114
218

(6,076)
40,721(17)
4,344
38,972
317,139

(4) Consolidated Statements of Cash Flows(Millions of yen)I

Year ended

Year ended

31-Mar-09

31-Mar-10

Income before taxes

52,353

63,406

Depreciation and amortization

18,192

18,186

-

20

2,189

1,723

Cash flows from operating activities

Impairment loss
Amortization of goodwill
Investment income for equity method

(50)

(81)

Increase(decrease) in reserve for retirement allowance

(366)

1,242

Increase(decrease) in allowance for retirement benefits for directors

(68)

(1)

Increase(decrease) in allowance for bad debt

(5)

(30)

Increase(decrease) in reserve for directors bonuses

(17)

(11)

Interest income and dividend income(1,702)(722)

Incentive received

-

(169)

Interest expenses

232

169

Exchange loss (gain)

506

284

Expense for a settlement

432-

Loss on disposal of fixed assets

299

189

Gain on sales of fixed assets

(17)

(3)

Loss (gain) on sales of marketable securities

(80)

-

Loss on valuation of marketable securities

37

1

Loss on sales and impairment of golf membership

10

-

(450)

(5,855)Decrease(increase) in inventories(8,477)(1,403)

Increase(decrease) in trade payable

629

(395)

Others(3,862)

4,831

Subtotal

59,785

81,382Gain of loss interests and dividends

1,880

924

-

169

Interest paid

(290)

(179)

Repayment for a settlement

(432)

-

Corporate tax paid

(29,326)(14,945)

Cash flow provided by operating activities

31,61567,352

Payment for making fixed-term deposits(5,741)(16,578)

Refund of cash in bank

5,486

13,336(17,836)(18,440)

Decrease(increase) in trade receivable

Incentive received

II Cash flows from investing activities

Capital expenditure
Proceeds from sales of tangible assets

17

14

Capital expenditure for intangible assets(2,405)(1,276)

Payments for purchase of marketable securities(802)(2,908)Proceeds from sales of marketable investments

-

100

580

-

Capital gain on sale of marketable securities
Payment for acquisition newry consolidated company(3,286)--480(23,988)(25,273)

Increase(decrease) in short-term debt

(10,090)(5,190)

Buyback of treasury stock(18,009)(17)

Repayment of financial lease

(127)

(204)

OthersNet cash used in investing activities
III Cash flows from financing activities

Dividends paid

(6,593)(6,076)

Net cash used in financing activities(34,820)(11,487)

IV Effect of exchange rate changes(3,116)(780)

V Net increase(decrease) in cash and cash equivalents(30,310)29,810

VI Cash and cash equivalents at beginning of period

85,37755,067

Ⅶ Cash and cash equivalents at end of period

55,06784,877

(5)Notes

Relating to balance sheet(Millions of yen)

Accumulated depreciation of tangible assets

March 31,2009

March 31,2010

208,791

220,213Ending balance of investment in securities to nonconsolidated subsidiaries and related companies(Millions of yen)

Investment in securities

March 31,2009

March 31,2010

2,638

2,513

Relating to statement of income
I Main items among selling, general and administrative expenses(Millions of yen)
Year ended
March 31,2009

Year ended
March 31,2010

Promotion and Advertisement fee

10,91911,011

Transportation and Packaging cost

9,094

9,043

Salaries

25,033

24,975

Bonuses

3,145

3,137

Provision for bonuses

2,274

2,302

Pension

1,839

2,703

R&D expenditure

17,15817,527

Depreciation

3,354

3,344

172

161

Provision of the reserve for directors' bonuses
II R&D expenditure

Year ended
March 31,2009

17,158Year ended
March 31,2010

17,527

III Itemized statement of Gain on sales
Year ended
March 31,2009

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

16
0
17

Year ended
March 31,2010

3
0
3

IV Itemized statement of Loss on disposal of assets
Year ended
March 31,2009

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

79
169
50
299

Year ended
March 31,2010

35
126
26
189

V Impairment loss
(Millions of yen)
Year ended
March 31,2009-

Location
Application
Assortment
AmountYear ended
March 31,2010

USA・EU
Equipment (Idle asset)
Machinery andtransportation
20
20

-

Impairment Amount

Relating to statement of cash flows
Reconciliation of cash and cash equivalents on the annual consolidated balance sheet.
(Millions of yen)
Year ended
March 31,2009

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

Year ended
March 31,2010

57,073

90,102(2,006)55,067(5,224)84,877

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

Year ended
March 31, 2009

(Millions of yen)
Year ended
March 31, 2010

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, 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)

Dividend
per share(yen)

Common stock

3,490

A board of directors held on October 30,2008

Common stock

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 22,2009

(2) Year ended March, 2010
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
20,977
Treasury stock : Common stock
Note : The increase or treasury stock is from taking up odd stock.

Decrease during
this fiscal period

3Ending balance-

210,876
20,981

II Items on dividend
Delivery of dividends(Resolution)
Annual meeting of stockholders held on June
19,2009

Category of stock

Dividend(millionsyen)Common stock

3,038

A board of directors held on October 29,2009

Common stock

Dividend
per share(yen)

Dividend record date

Effective date16

March 31,2009

June 22,2009

3,038

16

September 30,2009

December 8,2009

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 June29, 2010

Category of stock

Common stock

Dividend record date

Effective date

March 31,2010

June 30,2010

5. Segment Information(1) Business Segments(Millions of yen)
Year ended
March 31, 2010
AmountOperatingincome

Sales
General hospital products

149,788

33,643

Cardiac & Vascular products

135,831

38,732

Blood Transfusion products

23,947

3,402

Home Health Care products
Corporate expenses

6,442
-

387
(12,884)

316,009

63,282

Total(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
Corporate expenses

5,344
-

152
(13,224)

302,746

54,039Total(Note) Main products belonging to each product segment
Product segments

Main products

General hospital products
Disposable medical devices
and Medical electronics
Pharmaceuticals

Syringes, Needles, Solution Administrative sets, I.V.catheters, Bloodcollection 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.
Digital Thermometers, Blood pressure monitors, Blood glucose monitors(OTC), etc.

Interventional systems

Consumer Health Care Products(2) Geographic segments(Millions of yen)
Year ended
March 31, 2010
AmountSales to customer

OperatingincomeInternal salesJapan

173,943

49,134

57,632Europe55,768

4,172

7,536

Americas56,860

5,656

4,125

Asia and others
Corporate expenses

29,436-15,022(73,986)

8,325(14,337)

Total

316,009-

63,282(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
Corporate expenses

28,341-

15,349(72,301)

7,410(14,280)

Total

302,746-

54,039(3) Sales results by regions(Millions of yen)
Year ended
March 31, 2010
Amount%Japan

173,91055.0%

Europe56,59017.9%

Americas
Asia and others

53,776
31,731

17.0%
10.1%

Total

316,009100.0%

Year ended
March 31, 2009
Amount%Japan

162,049

53.5%

Europe55,962

18.5%

Americas
Asia and others

53,77030,964

17.8%
10.2%

Total

302,746

100.0%