Financial Results for the Second Quarter of Fiscal Year Ending March 31, 2017
November 10, 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 Six Months Ended September 30, 2016
(From April 1, 2016 to September 30, 2016)(1) Consolidated operating results(Notes: The amounts shown below ignore values of less than a million yen)

Net sales(Millions of yen)%

(Millions of yen)%

245,110259,167(5.4)
11.1

39,37039,1020.7
18.5

Six months ended September, 2016
Six months ended September, 2015
(Notes) Comprehensive income:Operating income

September 2016: (26,328) million yen (－%)

(Millions of yen)

(Millions of yen)%

30,601 (14.4)
35,758
5.1%

20,423 (24.4)
27,012 23.5

September 2015: 23,117 million yen (-46.5%)

Net income per share,
fully diluted

Net income per share

Six months ended September, 2016
Six months ended September, 2015

Profit attributable toowners of parent

Ordinary income

(Yen)

(Yen)

56.27
71.50

52.49
66.90

(2) Consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share(Millions of yen)

(Millions of yen)

%

(Yen)

As of September 30, 2016
As of March 31, 2016

886,019
901,685

478,118
511,54453.9
56.7

1,316.12
1,408.53(Notes) Shareholders' equity:

September 30, 2016: 477,711 million yen

March 31, 2016: 511,252 million yen

2. Dividends
Cash dividends per share
1st quarter

Year ended March, 2016
Year ending March, 2017
Year ending March, 2017 (forecast)(Notes) Revise of dividends forecast : NoneTotal

2nd quarter3rd quarter

4th quarter

(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

－－

19.00
20.00

－

20.00

39.00

－

21.00

41.00

3. Consolidated Forecast for the Year Ending March 2017 (From April 1, 2016 to March 31, 2017)
Net sales(Millions of yen)

Operating income

Net income per share(Millions of yen)%

(Millions of yen)

%

(Yen)

517,000
75,00065,000Year ending March, 2017
(1.5)
(8.2)
(Notes) Forecast for fiscal year ending March, 2017 which was announced on May 10, 2016 has been revised.

(11.1)

47,500(6.3)

130.87%(Millions of yen)

Profit attributable toowners of parent

Ordinary income%(Assumed exchange rate for the second half of fiscal year ending March, 2017: USD1=JPY105, EUR1=JPY115)
3.
Among 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 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 of foreign exchange rates, and state of competition.

14. Financial Statements(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2016

As of September 30, 2016

AmountAmount(Assets)
III%374,746

Cash and deposits

149,672

155,383

Noteｓ and accounts receivable-trade104,426

94,890Marchandise and finished goods

59,13259,377Work in process

10,194

10,210Raw materials and supplies

27,126

26,950

Deferred tax assets

14,963

14,312

Other

10,621

8,630

Allowance for doubtful accounts(1,390)(1,210)Noncurrent assets
1 Property, plant and equipment

368,54357.9

512,74957.9

175,79419.5

169,768

19.2

65,20762,261

Machinery, equipment and vehicles

54,36250,477

Land

23,29722,596

Construction in progress
Other

881

829

21,41722,986

10,6282 Intangible assets

290,514

10,616
32.3

292,791

Goodwill

143,707

145,530

Customer relationships

90,75078,726

Other

56,056

3 Investments and other assets

55,34850,19037,724

Deferred tax assets

3,436

4,131

Other

14,186

13,915

Deferred assets

2

33.1

68,534
6.1

Investment securities, including investments inunconsolidated subsidiaries and affiliates

Total assets

41.6

521,657

Buildings and structures

Lease assets

III

41.5

%

Current assets

5.6

32,143

5,281

0.6

4,725

0.5

901,685100.0

886,019

100.0

(Millions of yen)
As of March 31, 2016

As of September 30, 2016

AmountAmount(Liabilities)
I%

Current liabilities

168,835

Notes and accounts payable-trade36,29434,216

61－

19,83917,819

Short-term debt
Current portion of long-term debt
Lease obligations

154,445

256

158

Current portion of bonds payable

40,00040,000

Income taxes payable

9,778

7,954

Deferred tax liabilities

56

41

Provision for bonuses

5,869

5,439

Provision for directors' bonuses
Notes and accounts payable-facilities
Asset retirement obligations

II

18.7

%

170

76

5,451

4,442－301

Other

51,05743,995

Noncurrent liabilities

221,304

Bonds payable

24.6

253,455－30,000

Convertible bonds with subscription rights to shares

100,184

100,159

Long-term debt

58,87356,937

Lease obligations

286

265

45,07943,831

Deferred tax liabilities
Provision for directors' retirement benefits
Retirement benefit liabilities
Asset retirement obligations

66

14

8,656

8,237

17.4

28.7

230

61

Other

7,925

13,948

Total liabilities

390,14043.3

407,900

46.1

I

Shareholders' equity

445,17849.4

458,337

51.7

Capital stock

38,716

II

38,716

Capital surplus

50,92850,928Retained earnings

419,573432,737

Treasury stock(64,040)(64,044)

Accumulated other comprehensive income

66,074

Unrealized gains (losses) on available-for-sale securities,
net of taxes

16,30812,321(13)(22)

Deferred gains (losses) on hedges, net of taxes

7.3

19,373Foreign currency translation adjustments

63,182

18,885

Accumulated adjustments for retirement benefits, net of taxes(13,403)(11,810)

III

Stock subscription rights

IV

Non-controlling interests

183

0.0

250

2.2

0.0

109

0.0

156

0.0

Total net assets

511,54456.7

478,118

53.9

Total liabilities and net assets901,685

100.0

886,019100.0

3

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

For the six months ended

September 30, 2015

September 30, 2016

AmountAmount%%I

Net sales

259,167

100.0

245,110

100.0

II

Cost of sales

119,80946.2

109,101

44.5

139,35753.8

136,008

55.5

III

Selling, general and administrative expenses

100,255

38.7

96,638

39.4

39,102

15.1

39,370

16.1

1,198

0.5

1,001

0.4

9,770

4.0

Gross profit

Operating income
IVV

Non-operating income
Interest income

348247

Dividends income

228151Royalty income

9682

Other

523

519

Non-operating expenses

4,541Interest expenses
Sales discounts
Foreign exchange losses
Equity in losses of affiliates
Loss on disposal of inventories
OtherVI

593

209

223

2,386

6,595

157

304

38701

1,054

1,353

Ordinary income

35,75813.8

30,601

12.5

Extraordinary income

5,596

2.2

25

0.0

115

0.0

30,511

12.5

10,135

4.2

Gain on sales of property, plant and equipment

4,819

Gain on sales of investment securities
VII

1.869425776

Extraordinary expenses－992

Loss on disposal of property, plant and equipment

193

Impairment loss

799

Income before income taxes
VIII Income taxes

0.4
115－40,362

15.6

13,364

5.2

Current

14,757

9,460

Deffered(1,392)

675

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

426,997

10.4

20,376

8.3

(15)

(0.0)

(47)

(0.0)

27,012

10.4

20,423

8.3

(3) Consolidated statements of comprehensive income
For the six months ended
September 30, 2015
AmountIII

ProfitOther comprehensive income
Valuation difference on available-for-sale securities, netof taxesDeferred gains or losses on hedges, net of taxes
Foreign currency translation adjustments
Adjustments for retirement benefit
Share of other comprehensive income of associates
accounted for using equity method, net of taxes
Comprehensive income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests(Millions of yen)
For the six months ended
September 30, 2016
Amount26,997(3,880)(2,604)0(1,654)380(3,986)(4)(44,302)
1,593

(2)

5

20,376(46,704)(4)
23,117(26,328)

23,134(17)(26,276)(51)

5. Segment Information[Reportable Segments](1) The Second Quarter of Fiscal Year Ended March 31, 2016

(Millions of yen)

Reportable Segments
Cardiac andVascularCompanyGeneral
HospitalCompany

BloodManagement
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

125,542

80,83052,794259,167－－－－－－－

Sales total

125,542

80,83052,794259,167－

259,167

Segment income (Excl. Amortization)

29,284

11,724

9,977

50,986(1,668)49,317

Segment income (loss)

28,376

11,724670

40,770(1,668)

39,102

23.3

14.5

18.9

19.7

－19.0

Internal sales

Segment income(%)(Excl. Amortization)

259,167

Notes: 1. The (1,668) million yen adjustment to segment income is the sum of (779) million yen for inventories and (889)
million yen for others.
2. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated income
statement.

(2) The Second Quarter of Fiscal Year Ending March 31, 2017

(Millions of yen)

Reportable Segments
Cardiac andVascularCompanyGeneral
HospitalCompany

Blood
Management
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

121,540

78,24245,227

245,010100－－－－－－

Sales total

121,540

78,24245,227

245,010100

245,110Segment income (Excl. Amortization)

33,006

11,2296,493

50,729(2,176)48,552

Segment income (loss)

31,856

11,229(1,538)41,547(2,176)39,370

27.2

14.4

14.4

20.7

－

19.8

Internal sales

Segment income(%)(Excl. Amortization)

245,110Notes: 1. The 100 million yen adjustment to Sales to customer is proceeds from temporary staffing that is not attributableto reportable segments.
2. The (2,176) million yen adjustment to segment income is the sum of 975 million yen for inventories and (3,152)
million yen for others.
3. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated incomestatement.

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

Cardiac and Vascular Company

General Hospital Company

Blood Management Company

Main products
Angiographic catheters, PTCA balloon catheters,
Coronary stents, etc.

Neurovascular

Neuro interventional coils, etc.

CV Systems

Oxygenators, Cardio-pulmonary bypass system,
etc.

Vascular Graft

Artificial vascular grafts, Stent graftsGeneral Hospital Products

Solution sets, I.V.catheters, Infusion pumps,
Syringe pumps, Syringes, Needles, Bloodcollection tubes, 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.

－6Blood bags, Automated blood collection system,
Automated blood component processing system,
Centrifugal apheresis system, Cell expansion
system, etc.