Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2016
February 4, 2016
Exchange where listed: TSE

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

Company code number
Representative:
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1. Consolidated Financial Highlights for the Nine Months Ended December 31, 2015
(From April 1, 2015 to December 31, 2015)(1) Consolidated operating results(Notes: The amounts shown below ignore values of less than a million yen)

Net sales

Operating income(Millions of yen)

(Millions of yen)%

Profit attributable toowners of parent

Ordinary income(Millions of yen)%

(Millions of yen)%

395,991
64,11560,977
Nine months ended December, 2015
9.0
21.3
3.9363,201
52,86958,689 17.6
Nine months ended December, 2014
5.2
9.6
(Notes) Comprehensive income: December 2015: 44,141 million yen (-51.6%) December 2014: 91,204 million yen (9.2%)
Net income per share,
fully diluted

Net income per share

Nine months ended December, 2015
Nine months ended December, 2014%

43,484 30.1
33,426 (9.4)

(Yen)

(Yen)

115.31
88.02

107.8787.40

Total assets

Net assets(2) Consolidated financial position(Millions of yen)

As of December 31, 2015
As of March 31, 2015
(Notes) Shareholders' equity:

Equity ratio(Millions of yen)

Net assets per share%(Yen)

591,31160.2
982,031
992,07357.8
573,523
December 31, 2015: 591,029 million yen March 31, 2015: 573,444 million yen

1,572.98
1,513.73

2 Dividends
2.
Cash dividends per share
2nd quarter
4th quarter3rd quarter

1st quarter
Year ended March, 2015
Year ending March, 2016
Year ending March, 2016 (forecast)(Notes) Revise of dividends forecast : None

total

(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

－－

14.50
19.00

－
－

16.00

30.50

19.00

38.00

3. Consolidated Forecast for the Year Ending March 2016 (From April 1, 2015 to March 31, 2016)
Net sales

Operating income

Net income
per share%(Millions of yen)%

525,000
75,00080,000Year ending March, 2016
7.3
18.6
6.0
(Notes) Forecast for fiscal year ending March, 2016 which was announced on November 5, 2015 has been revised.
(Assumed exchange rate for fiscal year ending March, 2016: USD1=JPY121, EUR1=JPY133)(Assumed exchange rate for fourth quarter ending March, 2016: USD1=JPY120, EUR1=JPY130)

50,00030.0(Millions of yen)%

(Millions of yen)

Profit attributable toowners of parent

Ordinary income%(Millions of yen)

(Yen)

132.59For details of the revisions to the consolidated forecast, please refer to “Revision to Full-Year Results Forecast for FY2015” announced today (February 4, 2016).
Among the information that Terumo discloses, forecasts of financial performance on future projections contain potential risks and uncertainty since these areforecasts 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 ineconomic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition.

14. Financial Statements(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2015

As of December 31, 2015

AmountAmount(Assets)
III%
412,458

Cash and deposits

129,679

136,508422,327

110,576

Noteｓ and accounts receivable-trade104,944

Marketable securities

50,00055,000Inventories

101,472

99,122

Deferred tax assets

13,94912,413

Other

13,871

10,330Allowance for doubtful accounts(1,458)(1,624)

Noncurrent assets
1 Property, plant and equipment

575,84258.0

554,135

56.4

18.0

178,380

18.2

60,78365,260Machinery, equipment and vehicles

45,616

51,234

Land22,023

23,724895

887

Construction in progress

39,02927,649Other

10,1479,623

2 Intangible assets

331,99033.4

314,721

Goodwill

166,990

156,126

Customer relationships

103,217

98,745

Other

61,7813 Investments and other assets
Investment securities, including investments inunconsolidated subsidiaries and affiliates

65,35532.0

59,8496.6

45,461

Deferred tax assets

43.0

178,496

Buildings and structures

Lease assets

III

41.6

%

Current assets

61,033

6.2

39,948259

295

Retirement benefit assets

6,786

5,951

Other

12,847

Deferred assets

3,772

0.4

5,567

0.6

992,073

100.0

982,031100.0

Total assets

214,837(Millions of yen)
As of March 31, 2015

As of December 31, 2015

AmountAmount(Liabilities)
I%

Current liabilities

129,947

Notes and accounts payable-trade

38,484

Short-term debt
Current portion of long-term debt
Lease obligations%
103,071

180

5,417

7,376

208

189

19,714

5,527

Deferred tax liabilities

105

64

Provision for bonuses

5,560

2,821

Notes and accounts payable-facilities

142

99

8,667

3,858

Other

51,282

Noncurrent liabilities

288,60249,47929.1

287,647

Bonds payable

40,00040,000Convertible bonds with subscription rights to shares

100,233

100,196

Long-term debt

79,14178,785

Lease obligations

278

210

50,01349,57766

66

Retirement benefit liabilities

7,020

7,107

Asset retirement obligations

233

234

11,615

11,467

Deferred tax liabilities
Provision for directors' retirement benefits

Other

10.5

33,473364

Income taxes payable

Provision for directors' bonuses

II

13.1

29.3

Total liabilities

418,55042.2

390,719

39.8

IShareholders' equity

471,10247.5

487,987

49.7

Capital stock

38,716

Capital surplus

52,10350,928Retained earnings

383,317412,381

Treasury stockII

38,716(3,035)

Accumulated other comprehensive income
Unrealized gains (losses) on available-for-sale securities,
net of taxes

102,341(14,038)10.3

103,041

16,91018,636－11

Foreign currency translation adjustments, net of taxes

89,04387,393

Accumulated adjustments for retirement benefits, net of taxes(3,611)

Deferred gains (losses) on hedges, net of taxes

10.5(2,999)III

Stock subscription rights780.0

152

0.0IV

Non-controlling interests

－－

129

0.0

Total net assets

573,52357.8

591,311

60.2

Total liabilities and net assets

992,073

100.0

982,031100.0

3

(2) Consolidated statements of income(Millions of yen)
For the nine months ended

For the nine months ended

December 31, 2014

December 31, 2015

AmountAmount%%I

Net sales

363,201

100.0

395,991

II

Cost of sales

172,52247.5

181,343

45.8

Gross profit

190,67852.5

214,648

54.2

IIIIV

Selling, general and administrative expenses

137,80837.9

150,532

38.0Operating income

52,86914.6

64,11516.2

Non-operating income

9,848

2.7

1,979

0.5

5,117

1.3

Interest income

378

471

Dividends income

247

276

Royalty income

124

113

Foreign exchange gains

V

8,098

－

Equity in earnings of affiliates

10321

Other

989

Non-operating expenses

1.1

Interest expenses

896

Sales discounts

513

318

－

2,361

239

48

Loss on disposal of inventories
Other

1,035

2,378

1,353

Ordinary income

58,68916.2

60,977

15.4

Extraordinary income

2,465

0.7

5,590

1.4

1,245

0.3

65,322

16.5

21,872

5.5

Gain on sales of property, plant and equipment

VII7944,028

Foreign exchange losses

VI

100.0

490

4,813

Gain on sales of investment securities－776

Gain on adjustment of account payable

1,974

－

Extraordinary expenses

8,839

Loss on disposal of property, plant and equipment
Impairment loss
Loss on liquidation of subsidiaries
Restructuring loss

2.5

419

226

1,450

1,019

549

－

6,420

Income before income taxes
VIII Income taxes
Current

21,133Differed(2,243)

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent4－
52,315

14.4

18,8895.2
22,140(267)

33,4269.2

43,449

11.0

－

－

(34)

(0.0)

33,4269.2

43,484

11.0

(3) Consolidated statements of comprehensive income(Millions of yen)
For the nine months ended
December 31, 2015
Amount

For the nine months ended
December 31, 2014
AmountIII

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Adjustments for retirement benefit
Share of other comprehensive income of associates
accounted for using equity method
Comprehensive income
Attributable to:33,426
57,7784,211
253,571(10)

1,725
11(1,655)
611

3

Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

543,449691(2)91,204

44,141

91,204

44,181－(40)

(4)Notes<Significant accounting policies in preparing the consolidated financial statements>
Changes in accounting policy(Application of Accounting Standards regarding Business Combinations)
As the "Revised Accounting Standard for Business Combinations" (ASBJ Statement No.21, September 13, 2013; hereinafter the"Business Combinations Accounting Standard"), "Revised Accounting Standard for Consolidated Financial Statements" (ASBJ Statement
No.22, September 13, 2013; hereinafter the "Consolidation Accounting Standard"), "Revised Accounting Standard for BusinessDivestitures" (ASBJ Statement No.7, September 13, 2013; hereinafter the "Business Divestitures Accounting Standard") and otherstandards have been applied from the three months ended June 30, 2015. Accordingly, the accounting method has been changed that thedifference associated with changes in equity in subsidiaries remaining under the control of the Company is recorded as capital surplus,and acquisition-related costs are recorded as expenses for the fiscal year in which the costs are incurred. For business combinations
implemented on or after the beginning of the three months ended June 30, 2015, the accounting method has been changed to reflect theadjustments to the allocated amount of acquisition costs on the finalization of provisional accounting treatment in the consolidated
financial statements for the quarter containing the date of the business combinations.
In addition, the Company has changed the presentation of net income, etc. as well as the presentation of minority interests to noncontrolling interests. To reflect these changes in presentation, the quarterly consolidated financial statements for the nine months ended
December 31, 2014 and consolidated financial statements for the fiscal year ended March 31, 2015 have been reclassified.
With respect to application of the Accounting Standards regarding Business Combinations, the transitional treatment as prescribed inarticle 58-2 (3) of the Business Combinations Accounting Standard, article 44-5 (3) of the Consolidation Accounting Standard and article
57-4 (3) of the Business Divestitures Accounting Standard was applied. The cumulative impact of the retroactive application of the new
accounting policies over all past periods at the beginning of the three months ended June 30, 2015 was reflected in capital surplus andretained earnings.
As a result of this change, as of the beginning of the nine months ended December 31, 2015, goodwill, capital surplus and retained
earnings decreased by 3,135 million yen, 1,175 million yen and 1,220 million yen, respectively. Additionally operating income, ordinary
income, and income before income taxes for the nine months ended December 31, 2015 all increased by 143 million yen.

<Notes on significant changes in the amount of shareholders’ equity>
Following the resolution at its board of directors’ meeting on August 4, 2015, the Company bought back its shares in accordance with theprovisions of Article 156 of the Companies Act applicable pursuant to Article 165, Paragraph 3, of the said Act. As a result, treasury stockincreased by 10,999 million yen.

65. Segment Information[Reportable Segments](1) The Third Quarter of Fiscal Year Ended March 31, 2015

(Millions of yen)
Reportable Segments

Cardiac &VascularCompanyGeneral
HospitalCompanyBloodManagementCompanyAdjustment

Total

Subtotal

Sales and operating income:
165,890

122,426

74,844363,201－－－－－－－

Sales total

165,890

122,426

74,844363,201－

363,201

Segment income (Excl. Amortization)

34,154

16,497

14,15964,811972

65,783

Segment income (loss)

32,84916,4972,550

51,897972

52,869

20.6

13.5

18.9

17.8

－

18.1

Sales to customer
Internal sales

Segment income(%)(Excl. Amortization)

363,201

Notes: 1. The 972 million yen adjustment to segment income is the sum of (478) million yen for inventories and 1,450 million
yen for others.
2. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated income
statement.
(2) The Third Quarter of Fiscal Year Ending March 31, 2016

(Millions of yen)
Reportable Segments

Cardiac &VascularCompanyGeneral
HospitalCompany

Blood
Management
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

193,241

122,777

79,972395,991－－－－－－－

Sales total

193,241

122,777

79,972395,991－

395,991

Segment income (Excl. Amortization)

47,801

18,24914,32780,378(956)

79,422

Segment income (loss)

46,43918,249382

65,072(956)

64,115

24.7

14.9

17.9

20.3

－20.1

Internal sales

Segment income(%)(Excl. Amortization)

395,991

Notes: 1. The (956) million yen adjustment to segment income is the sum of (1,046) million yen for inventories and 90 million
yen for others.
2. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated income
statement.
(Changes in the category of segments)
As a result of reclassification in performance management among overseas subsidiaries, “Harvest Technologies Corporation”
and “Harvest Technologies GmbH” have been transferred from “Cardiac & Vascular Company” to “Blood Management
Company” since October 1, 2014. “Segment income” has been adjusted retrospectively to reflect the effect of this change.

(Note) Main products belonging to each business segment
Business segments
Sub-segments
Interventional Systems

Cardiac & Vascular Company

General Hospital Company

Main products
Angiographic catheters, PTCA balloon catheters,
Coronary stents

Neurovascular

Neuro interventional coils, etc.

CV Systems

Oxygenerators, Cardio-pulmonary bypasssystem, etc.

Vascular Graft

Artificial vascular grafts, Stent grafts

General Hospital Products

Syringes, Needles, Blood collection tubes,
Solution sets, I.V.catheters, Infusion pumps,
Syringe pumps, etc.

D&D

Prefilled syringes, Pain management systems,
I.V.solutions, Nutritious food, CAPD systems,etc.

DM and Consumer Healthcare

Blood glucose monitoring systems, Digital
thermometers, Blood pressure monitors, etc.

－Blood bags, Automated blood collection system,
Therapeutic apheresis system, Cell expansion
system, etc.

Blood Management Company7