February 9, 2022

Consolidated Financial Results
for the Third Quarter Ended December 31, 2021
Terumo Corporation〔IFRS〕
Company name: TERUMO CORPORATION
Listing:
Tokyo Stock Exchange
Securities code:
4543
URL:
https://www.terumo.com/
Representative:
Shinjiro Sato, President and CEO
Inquiries:
Kenichi Hata, General Manager, Investor Relations Dept.
Telephone:+81-3-6742-8550
Scheduled date to file quarterly securities report:
February 14, 2022
Scheduled date to commence dividend payments:－
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes (for Securities analysts, Institutional
investors)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to
December 31, 2021)(1) Consolidated operating results (cumulative)
Revenue
Nine months ended
December 31,
2021
December 31,
2020

Operating profit

Profit before tax

Profit attributableto owners ofparentProfit for theperiodTotal
comprehensive
incomeMillions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

523,482

16.7

94,45525.5

93,04424.2

71,69622.6

71,69622.3

102,045182.9

448,628(4.6)

75,272 (12.7)

Basic earnings
per share
Nine months ended
December 31,
2021
December 31,
2020(Percentages indicate year-on-year changes.)

74,928 (12.4)

58,502 (12.4)

58,601 (12.4)

36,077 (36.4)

Diluted earnings
per share
Yen

Yen

94.82

94.76

77.63

77.44

(Note) Adjusted operating profit December 2021: 107,157 million yen

December 2020: 88,489 million yen(2) Consolidated financial position
Total assets
As ofTotal equity

Equity attributable toowners of parent

Ratio of equity
attributable to owners ofparent to total assets

Millions of yen

Millions of yen

Millions of yen

December 31, 2021

1,401,522

935,904

935,904

66.8

March 31, 2021

1,351,192

856,662

856,662

63.4

－ 1 －

%

2. Cash dividends
Annual dividends per shareFirst quarter-end
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year-end
Yen

Yen

－

14.00

－

15.00

29.00

－

16.00

－
16.00

32.00

Fiscal year ending
March 31, 2022
(Forecast)

Total(Note) Revision from the dividend forecast, which is published in the most recent: None
3. Consolidated Forecast for the Fiscal Year Ending March, 2022 (From April 1, 2021 to March 31, 2022)(Percentages indicate year-on-year changes.)
Adjusted operating
profitRevenue
Fiscal Year ending
March, 2022

Profit for the year
attributable to ownersof parent

Operating profit

Basic earnings per
share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

697,000

13.5

137,000

18.2

120,000

22.0

92,00019.1

121.66(Note) Revision of forecast for fiscal year ending March, 2022: Yes
Regarding the forecast for cumulative consolidated earnings for the fiscal year, please refer to the February
9th, 2022 press release “Terumo Revises its Full-Year Financial Guidance for FY2021”.
Basic earnings per share is calculated by taking into consideration effects of the conversion of convertible
bonds in the nine months.
• Assumed exchange rate for fiscal year ending March, 2022: USD1=112JPY, EUR1=130JPY－ 2 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

*Notes(1) Changes in significant subsidiaries during the current quarterly consolidated cumulative period (changes in
specified subsidiaries resulting in changes in the scope of consolidation): None
New － Company (Company Name) －, Excluded － Company (Company Name) －(2) Changes in accounting policies and changes in accounting estimates(i) Changes in accounting policies required by IFRS: None(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None
(3) Number of outstanding shares (common stock)(i) Number of outstanding shares at the end of
the period (including treasury shares)

As of December 31,
2021

759,521,040 shares As of March 31, 2021

759,521,040 shares(ii) Treasury shares at the end of the period

As of December 31,
2021

3,203,152 shares As of March 31, 2021

3,508,047 shares(iii) Average number of shares during theperiod (cumulative quarterly)

Nine months ended
December 31, 2021

Nine months ended
December 31, 2020

754,856,119 shares

756,170,427 shares*Quarterly financial statements are not subject to quarterly reviews by certified accountants or audit firms.
*Explanation on appropriate use of financial results forecasts and other special notes
1. Forward-looking statements, including earnings forecasts, contained in these disclosure materials are based on
currently available information and assumptions believed to be reasonable by management. This is not apromise or guarantee by Terumo that it will achieve these goals. In addition, actual results may differ
significantly due to several factors. For the assumptions that are the premise of the earnings forecast and theprecautions for using the earnings forecast, refer to [Attachment], page 8, "1. Overview of Financial Results
for the First Nine Months of the Fiscal Year Ending March 31, 2022 (3) Forecasts, including the Consolidated
Financial Results for the Fiscal Year Ending March 31, 2022".
2. Adjusted operating profit factors out amortization expense for intangible assets obtained during acquisitions
and one-off income and expenses from operating profit. In addition, adjusted operating profit is consistent
with segment profit. We are disclosing adjusted operating profit as we are using it as a performance indicator.

－ 3 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

 Table of contents of attached materials
1. Overview of Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2022 .................. 5(1) Overview of Consolidated Business Results...................................................................................................... 5(2) Overview of Consolidated Statement of Financial Position .............................................................................. 8(3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2022 .............. 8
2. Condensed Consolidated Financial Statements ...................................................................................................... 9(1) Condensed Consolidated Statement of Financial Position ................................................................................. 9(2) Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement ofComprehensive Income ............................................................................................................................... 11(3) Condensed Consolidated Statement of Change in Equity .............................................................................. 13(4) Notes Pertaining to Condensed Consolidated Financial Statements ................................................................ 13(i) Going Concern Assumption ......................................................................................................................... 13(ii) Segment information .................................................................................................................................. 14－ 4 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

1. Overview of Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2022
(1) Overview of Consolidated Business Results
In the first nine months of the current fiscal year (from April 1, 2021 to December 31, 2021), the Group’s sales
were generally strong amid the ongoing recovery trend in medical demand from the impacts of the COVID-19
pandemic experienced in the first three months of the current fiscal year. However, the problems of inflation on
manufacturing cost and lower capacity utilization in factories along with supply chain disruptions seen
across all industries and regions have begun to affect the Group as well. The Group will need to continue
finding ways to secure stable supplies of these resources from the fourth quarter into next fiscal year.
Financial results for the first nine months are as follows:(Unit: Millions of yen)

Revenue
Gross profit
Adjusted operating profit
Operating profit
Profit before tax
Profit for the period
Profit for the period
attributable to owners ofparent

For the ninemonths ended
December 31,
2020
448,628
241,268
88,48975,272
74,92858,502For the ninemonths ended
December 31,
2021
523,482
278,841
107,157
94,45593,044
71,69658,601

71,696Growth (%)

Growthexcluding impactof FX
translations (%)

16.7
15.6
21.1
25.5
24.2
22.6

11.9
10.2
13.3
16.9
－
－

22.3

－

Revenue by geographic areas for the first nine months is as follows:(Unit: Millions of yen)
Growthexcluding impact
Growth (%)
of FXtranslations (%)

For the ninemonths ended
December 31,
2020

For the ninemonths ended
December 31,
2021

Japan

148,349

155,034

4.5

4.5

Europe87,547

103,997

18.8

11.2

Americas131,132

161,219

22.9

17.2

Asia and others

81,598103,231

26.5

17.6

Overseas total

300,279

368,447

22.7

15.5

Total

448,628

523,482

16.7

11.9

Geographic areas－ 5 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

Revenue
Revenue totaled ¥523.5 billion, an increase of 16.7% versus the same period in the previous fiscal year.
In Japan, overall revenue increased by 4.5% year on year, amid strong revenue in Alliance division, infusion andsyringe pumps in Hospital systems division of General Hospital Company, and, along with the steady recovery indemand in TIS division (interventional devices) and Neurovascular division of Cardiac and Vascular Company.
Revenue overseas increased by 22.7% in comparison with the previous year amid indications of a robust recovery
in demand in TIS division and Neurovascular division of Cardiac and Vascular Company as well as Blood andCell Technologies Company.
Gross profit
Gross profit came to ¥278.8 billion, an increase of 15.6% compared with the previous fiscal year, reflecting theincrease in revenue.
Adjusted operating profit
Adjusted operating profit came to ¥107.2 billion, an increase of 21.1% year on year, owing to the increase in grossprofit which exceeded the increase in selling, general and administrative expenses.
Adjusted operating profit factors out amortization expense for intangible assets obtained during acquisitions andone-off income and expenses from operating profit. In addition, adjusted operating profit is consistent withsegment profit. We are disclosing adjusted operating profit as we are using it as a performance indicator.
Operating profit
Operating profit came to ¥94.5 billion, an increase of 25.5% year on year, owing to the increase in adjusted
operating profit.
Profit before tax
Profit before tax was ¥93.0 billion, an increase of 24.2% versus the same period a year earlier owing to theincrease in operating profit.
Profit for the period attributable to owners of parent
Profit for the period attributable to owners of parent totaled ¥71.7 billion, an increase of 22.3% year on year,
driven by the increase in profit before tax.

－ 6 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

Revenue results of the reportable segments are as follows:(Millions of yen)
For the ninemonths ended
December 31,
2020

For the ninemonths ended
December 31,
2021

Growth (%)

Growthexcluding impactof FX
translations (%)

Revenue

238,405

294,403

23.5

17.1

(Japan)36,60838,478

5.1

5.1(Overseas)

201,796

255,924

26.8

19.2

Revenue

129,023

138,733

7.5

6.1(Japan)102,594

107,664

4.9

4.9(Overseas)

26,42931,06917.6

10.8

Revenue

81,007

90,15411.3

5.9(Japan)

8,954

8,700

(2.8)

(2.8)

(Overseas)

72,05381,45313.0

6.9

Segment

Cardiac and
VascularCompany
GeneralHospitalCompany
Blood and Cell
Technologies
Company

Cardiac and Vascular Company
Global revenue increased 23.5% over the same period of the previous year to ¥294.4 billion. In Japan, sales
increased amid the recovery in demand of TIS division and Neurovascular division. Overseas, in North America
and Europe, there was a robust recovery in demand in TIS and Neurovascular division.
General Hospital Company
Global revenue increased 7.5% to ¥138.7 billion. In both Japan and overseas, there were strong sales of infusionand syringe pumps in Hospital systems division following a recovery in medical demand and further
enhancements to medical systems. Additionally, Alliance division continued to grow.
Blood and Cell Technologies Company
Global revenue increased 11.3% to ¥90.2 billion. In Japan, mainly sales to blood centers declined slightly.
Overseas, there was a recovery in demand for whole blood collection, therapeutic apheresis systems, and cellprocessing products.

－ 7 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

(2) Overview of Consolidated Statement of Financial Position
Total assets stood at ¥1,401.5 billion, an increase of ¥50.3 billion. This was mainly owing to an increase inproperty, plant and equipment of ¥15.7 billion from investments in manufacturing facility and an increase ingoodwill and intangible assets of ¥14.9 billion from investments in new IT systems and the impacts of yen
weakness in FX.
Total liabilities came to ¥465.6 billion, a decrease of ¥28.9 billion. This was mainly attributed to a decline intrade and other payables of ¥11.7 billion due to the payments related to facilities and a decrease in bonds andborrowings of ¥7.7 billion due to repayment of corporate bonds.
Total equity was ¥935.9 billion, an increase of ¥79.2 billion. This mainly reflects an increase of ¥71.7 billion
from posting profit for the period and booking of other comprehensive income associated with the impacts of
yen weakness in FX as noted above that resulted in an ¥30.3 billion increase, compared to a decrease of ¥23.4
billion due to the payment of dividends from retained earnings.
(3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2022
At present, we must continue to monitor risks such as uncertainty about subsequent waves of COVID-19
infections and risks posed by a drop in demand, supply chain disruptions, inflation on manufacturing cost, andlower capacity utilization in factories. Nevertheless, the Group plans to focus on the introduction andexpansion of highly value-added products that will boost the quality and efficiency of healthcare, along withfurther improvement to manufacturing costs, and effective use of selling, general and administrative expenses.

－ 8 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

2. Condensed Consolidated Financial Statements(1) Condensed Consolidated Statement of Financial Position（Unit: Millions of yen）
As of
December 31, 2021

As ofMarch 31, 2021
AssetsCurrent assets
Cash and cash equivalents

200,770

204,905

Trade and other receivables

128,770

133,681

Other current financial assets

1,116

1,842

175,576

185,893

Current tax assets

510

775

Other current assets

17,222

16,745

Total current assets

523,966

543,844

Property, plant and equipment

299,679

315,334

Goodwill and intangible assets
Investments accounted for using
the equity method
Other non-current financial assets

471,834

486,713

3,644

4,030

19,44921,443

Deferred tax assets

23,72920,952Other non-current assets

8,887

9,203

Total non-current assets

827,225

857,677

1,351,192

1,401,522

Inventories

Non-current assets

Total assets－ 9 －[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

（Unit: Millions of yen）
As of
December 31, 2021

As ofMarch 31, 2021
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

83,52871,788

Bonds and borrowings

42,07232,377

Other current financial liabilities

7,784

7,140

Current tax liabilities

14,311

10,079374

464

Other current liabilities

63,29566,034

Total current liabilities

211,366

187,885

Bonds and borrowings

218,497

220,488

Other non-current financial liabilities

32,122

27,950

Deferred tax liabilities

15,962

12,205Retirement benefit liabilities

6,639

6,979

96

102

Other non-current liabilities

9,845

10,005

Total non-current liabilities

283,163

277,732

494,530

465,617

Share capital

38,716

38,716

Capital surplus

51,82951,874

Treasury shares(6,838)(6,245)Retained earnings

775,078

823,177

Other components of equity
Total equity attributable to ownersof parent
Total equity(2,123)28,381

856,662

935,904

856,662

935,904

1,351,192

1,401,522

Provisions

Non-current liabilities

Provisions

Total liabilities
EquityTotal liabilities and equity－ 10 －

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

(2) Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement ofComprehensive Income(Condensed Consolidated Statement of Profit or Loss)（Unit: Millions of yen）
For the nine months ended
For the nine months ended
December 31, 2020
December 31, 2021
Revenue
448,628
523,482
Cost of sales
207,360
244,641
Gross profit
241,268
278,841
Selling, general and administrative expenses
166,546
183,738
Other income
2,309
1,814
Other expenses
1,758
2,461
Operating profit
75,272
94,455
Finance income
1,745
759
Finance costs
1,421
2,603
Share of profit/(loss) of investments
(668)
433
accounted for using the equity method
Profit before tax
74,92893,044
Income tax expenses
16,426
21,348
Profit for the period
58,502
71,696
Attributable to:
Owners of parent
Non-controlling interests
Total profit for the period

58,601(98)
58,502

71,696－
71,696

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

77.63
77.44

94.82
94.76

－ 11 －

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

(Condensed Consolidated Statement of Comprehensive Income)

Profit for the period

For the nine months ended
December 31, 2020
58,502（Unit: Millions of yen）
For the nine months ended
December 31, 2021
71,696

1,172

106

139

15

1,311

121

(24,377)

30,018

143

228

497

(20)

(23,736)

30,227(22,424)

30,34836,077102,045

36,176

102,045(99)－

36,077102,045

Other comprehensive income
Items that will not be reclassified to profit orloss
Changes in financial assets measured at fairvalue through other comprehensive income
Remeasurements of defined benefit plans
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 offoreign operations
Cash flow hedges
Cost of hedging
Total items that are or may reclassified
subsequently to profit or loss
Total other comprehensive income/(loss)
for the period
Total comprehensive income for the period
Attributable to
Owners of parent
Non-controlling interests
Total comprehensive income for the period(Note) Items in the above statement are net of tax.

－ 12 －

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

(3) Condensed Consolidated Statements of Changes in Equity（Unit: Millions of yen）
Share
capitalBalance as of April 1, 2020
38,716
Profit for the period－
Other comprehensive income－
Total comprehensive income－
Acquisition of treasury shares－
Disposal of treasury shares－
Dividends－
Transfer from othercomponents of equity to－retained earnings
Share-based payments－
Conversion of convertible－
bonds
Total transactions with owners of－parentBalance as of December 31, 2020 38,716

Equity attributable to owners of parent
Other
Capital Treasury Retained
components
surplussharesearnings
of equity
51,858－－－－－－(14,103)
－
－
－
(2)
96
－

705,765
58,601－58,601－(14)(21,109)

－

－

(49)

Noncontrolling Total equity
interests

Total(27,423) 754,813－
58,601(22,424) (22,424)(22,424)
36,176－(2)(82)
0－ (21,109)

69
(98)
(0)
(99)
－
－
－

754,883
58,502(22,424)
36,077(2)
0(21,109)

1,532(1,532)

－

－

－

99

102

35

187

－

187

(29)

6,501

(121)

－

6,350

－

6,350

(79)

6,694

(19,610)(1,580) (14,574)－(14,574)

51,779(7,408)744,756(51,428)(29)

776,386

776,416（Unit: Millions of yen）
Share
capitalBalance as of April 1, 2021
38,716
Profit for the period－
Other comprehensive income－
Total comprehensive income－
Acquisition of treasury shares－
Disposal of treasury shares－
Dividends－
Transfer from other－components of equity toretained earnings
Share-based payments－
Conversion of convertible－
bonds
Total transactions with owners of－parentBalance as of December 31, 2021 38,716

Equity attributable to owners of parent
Other
Capital Treasury Retained
components
surplussharesearnings
of equity
51,829
－
－
－
－
(5)
－

(6,838)
－
－
－
(2)
33
－

775,078
71,696－
71,696－－(23,440)

－

－

(156)

156

62

91

－

(11)

470

－

45

592

(23,597)

51,874(6,245)823,177(4) Notes Pertaining to Condensed Consolidated Financial Statements(i) Going Concern Assumption
Not applicable－ 13 －

Noncontrolling Total equity
interests

Total(2,123) 856,662
71,696－30,34830,34830,348 102,045
(2)
－
(27)
0
－ (23,440)

－
－
－
－
－
－
－

856,662
71,69630,348102,045(2)
0(23,440)

－

－

－

26

180

－

180

－

459

－

459

156 (22,803)－(22,803)－

935,904

28,381

935,904

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022(ii) Segment information(1) General information on reportable segments
The reportable segments of the Group represent business units for which separate financial information isavailable, and are reviewed regularly at the Board of Directors meeting to make decisions about allocation ofmanagement resources and assess the performance of the business.
The Group applies an in-house company system classified by product groups. The headquarter of each in-housecompany plans their own comprehensive domestic and international strategies and conducts their own businessactivities.
The three segments are Cardiac and Vascular Company, General Hospital Company, and Blood and Celltechnologies Company.

－ 14 －

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

(2) Reportable segment information
Revenue and operating results of the reportable segments of the Group are described below.
For the nine months ended December 31, 2020

Reportable Segments

Revenue
Revenue from sales
to externalcustomers
Segment Profit(Adjusted
operatingprofit)(Adjustment item)
Amortization of
intangible assets
acquired throughbusiness
combinations
Non-recurring profit orloss (Note 2)(Unit: Millions of yen)Amountrecorded on
Adjustments
condensed(Note 1)
consolidated
financialstatements

Cardiac and
VascularCompany

GeneralHospitalCompany

Blood and
Cell
Technologies
Company

238,405

129,023

81,007448,437

191

448,628

56,032

20,476

14,43890,948(2,458)88,489(5,201)－(6,009)(11,211)372(10,838)

Total(2,378)Operating profit

75,272Finance income

1,745

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
methodProfit before tax(1,421)(668)
74,928(Note 1) Amounts in “Adjustments” are as follows:(1) ¥191 million adjustments to Revenue from sales to external customers is mainly proceeds fromoutward temporary staffing that is not attributable to reportable segments.
(2) ¥(2,458) million adjustment to segment profit consists of ¥413 million for inventories and ¥(1,762)
million for preparation expenses to comply with Medical Device Regulation in EU.
(Note 2) ¥(2,378) million Non-recurring profit or loss mainly includes ¥(1,838) million for the change infair value of contingent consideration and ¥(383) million for business reorganization expenses.

－ 15 －

[Terumo Corporation] Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2022

For the nine months ended December 31, 2021

Reportable Segments

Revenue
Revenue from sales
to externalcustomers
Segment Profit(Adjusted
operatingprofit)(Adjustment item)
Amortization of
intangible assets
acquired throughbusiness
combinations
Non-recurring profit orloss (Note 2)(Unit: Millions of yen)Amountrecorded on
Adjustments
condensed(Note 1)
consolidated
financialstatements

Cardiac and
VascularCompany

GeneralHospitalCompany

Blood and
Cell
Technologies
Company

294,403138,733

90,154523,291190

523,482

72,326

19,345

17,191

108,862(1,705)

107,157(5,496)－(6,294)(11,791)(50)(11,841)

Total

(860)

Operating profit

94,455

Finance income

759(2,603)Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
methodProfit before tax

433
93,044(Note 1) Amounts in “Adjustments” are as follows:(1) ¥190 million adjustments to Revenue from sales to external customers is mainly proceeds fromoutward temporary staffing that is not attributable to reportable segments.
(2) ¥(1,705) million adjustment to segment profit consists of ¥(85) million for inventories and¥(1,962) million for preparation expenses to comply with Medical Device Regulation in EU.
(Note 2) ¥(860) million Non-recurring profit or loss mainly includes ¥(213) million for the change in fairvalue of contingent consideration and ¥(645) million for business reorganization expenses.

－ 16 －