Financial Results for the First Quarter of Fiscal Year Ending March 31, 2016
August 4, 2015
Exchange where listed: TSE

Name of listed company: TERUMO CORPORATION(URL http://www.terumo.com/): 4543: Yutaro Shintaku, President and Representative Director: 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 Three Months Ended June 30, 2015
(From April 1, 2015 to June 30, 2015)(1) Consolidated operating results(Notes: The amounts shown below ignore values of less than a million yen)

Net sales(Millions of yen)%

Operating income

Ordinary income(Millions of yen)

(Millions of yen)%

Profit attributable toowners of parent(Millions of yen)%

128,660 11.9
19,449 20.7
20,592 42.5
Three months ended June, 2015
114,945 3.5
16,114 20.9
14,449 11.7
Three months ended June, 2014
(Notes) Comprehensive income: June 2015: 23,150 million yen (522.7%) June 2014: 3,717 million yen (-86.7%)%

72.8(6.3)

Net income per share,
fully diluted

Net income per share

Three months ended June, 2015
Three months ended June, 2014

14,504
8,394

(Yen)

(Yen)

38.29
22.11

35.83
22.10

(2) Consolidated financial position
Total assets
As of June 30, 2015
As of March 31, 2015
(Notes) Shareholders' equity:

Net assets

Equity ratio

Net assets per share(Millions of yen)

(Millions of yen)

%

(Yen)

983,018
992,073

588,340
573,52359.8
57.8

1,552.52
1,513.73

June 30, 2015: 588,140 million yen

March 31, 2015: 573,444 million yen

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

1st quarter
Year ended March, 2015
Year ending March, 2016
Year ending March, 2016 (forecast)

total(Yen)(Yen)

(Yen)

(Yen)

－－

14.50

－

16.00

30.50

16.00

－

16.00

32.00

(Notes) Revise of dividends forecast : None(Yen)

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

Operating income%(Millions of yen)

Profit attributable toowners of parent

Ordinary income%(Millions of yen)%

250,000
31,00029,500 (13.3)
7.2(6.0)
520,000
70,00067,000Year ending March, 2016
6.2
3.8(5.3)(Notes) Forecast for fiscal year ending March, 2016 which was announced on May 8, 2015 has not been revised.
(Assumed exchange rate for fiscal year ending March, 2015: USD1=JPY120, EUR1=JPY130)

Half year ending September, 2015

(Millions of yen)

17,50039,500Net income
per share%(20.0)
2.7(Yen)

46.09
104.04

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 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, 2015

As of June 30, 2015

AmountAmount(Assets)%

I Current assets

412,45841.6%
400,584

Cash and deposits

129,679

124,993Noteｓ and accounts receivable-trade104,944

103,857

Securities

50,00045,000Inventories

101,472

103,948

Deferred tax assets

13,94912,428

Other

13,871

11,883

Allowance for doubtful accounts(1,458)40.8(1,526)

II Noncurrent assets

575,84258.0

578,050

58.7

1. Property, plant and equipment

178,49618.0

181,416

18.4

Buildings and structures

60,78362,853

Machinery, equipment and vehicles

45,61650,036Land

22,023

23,970895

867

Lease assets
Construction in progress

39,02933,451

Other

10,147

10,237

2. Intangible assets

331,990

33.4

329,806

Goodwill

166,990

164,046

Customer relationships

103,217

103,541

Other

61,781

3. Investments and other assets

65,355Investment securities

45,461

Deferred tax assets

62,218
6.6

66,826

259

189

6,786

6,507

Other

12,847

Total assets

26.8

46,943Retirement benefit asset
III Deferred assets

33.5

13,185

3,772

0.4

4,383

0.5

992,073

100.0

983,018

100.0

(Millions of yen)
As of March 31, 2015

As of June 30, 2015

AmountAmount(Liabilities)
I%

Current liabilities

129,947

Notes and accounts payable-trade38,484

34,516

364

371

5,417

5,515

Short-term debt
Current portion of long-term debt
Lease obligations
Income taxes payable

13.1%
103,321208

189

19,714

4,960

Deferred tax liabilities

10566

Provision for bonuses

5,560

2,714

Provision for directors' bonuses

10.5

142

35

Notes and accounts payable-facilities

8,667

6,839

Other

51,282

48,113

Noncurrent liabilities

288,602

Bonds payable

40,00040,000Convertible bond-type bonds with subscription rights to shares

100,233

100,221Long-term debt

79,141

81,203

Lease obligations

27823650,01349,90866

66

Retirement benefit liability

7,020

7,400

Asset retirement obligations

233

234

Other

11,61512,083

Total liabilities

418,55042.2

394,677

40.2

I

Shareholders' equity

471,10247.5

477,149

48.5

Capital stock

38,716

II

Deferred tax liabilities
Provision for directors' retirement benefits

291,356

Capital surplus

52,10350,928383,317

390,540(3,035)

Accumulated other comprehensive income

102,341

Valuation difference on available-for-sale securities

16,910

Deferred gains or losses on hedges

29.7

38,716

Retained earnings
Treasury stock
II

29.1

(3,036)10.3

110,991

11.3

17,168－5Foreign currency translation adjustments

89,043

97,342

Accumulated adjustments for retirement benefit(3,611)(3,526)

III Stock subscription rights

78

0.0

970.0

IV Non-controlling interests

－－

103

0.0

Total net assets

573,52357.8

588,340

59.8

Total liabilities, net assets

992,073

100.0

983,018100.0

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

For the three months ended

June 30, 2014

June 30, 2015

AmountAmount%%INet sales

114,945

100.0

128,660

100.0

II

Cost of sales

54,23847.2

59,612

46.3

60,70652.8

69,04753.7

44,591

38.8

49,59838.6

16,11414.0

19,449

15.1

2,286

1.8

Gross profit
III Selling, general and administrative expenses
Operating income
IV Non-operating income

V

Interest income

124

203

Dividends income

64108

Royalty income

1720

Foreign exchange gains－1,755Equity in earnings of affiliates

24

Other

154

－
385

0.4

198

Non-operating expenses
Interest expenses

300

373

Sales discounts

172

104

Foreign exchange losses

773－－19

Equity in losses of affiliates
Loss on disposal of inventories

185

Other618

Ordinary income

31
2,050

1.8

614

14,449

12.6

160.0

394

700

0.6

350

13,765

12.0

1,143

0.9

20,592

16.0

394

0.3

354

0.3

20,632

16.0

6,130

4.7
11.3

VI Extraordinary income
Gain on sales of noncurrent assets

16VII Extraordinary expenses
Loss on disposal of noncurrent assets

331

Impairment loss

369

Income before income taxes
Income taxes-current

2,632

Income taxes-deferred

2,738

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

44

5,719
5,371

4.7

411

8,394

7.3

14,502－－(2)

0.0

8,394

7.3

14,504

11.3

(3) Consolidated statements of comprehensive incomeIIIFor the three months ended
June 30, 2014
AmountProfitOther 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:8,394

14,5029544(5,473)
(161)

258
58,29985(0)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

5(Millions of yen)
For the three months ended
June 30, 2015
Amount(4,676)
3,717

(1)

8,648
23,1503,717

23,152－(2)

(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 forBusiness Divestitures" (ASBJ Statement No.7, September 13, 2013; hereinafter the "Business Divestitures Accounting Standard")and other standards have been applied from the three months ended June 30, 2015. Accordingly, the accounting method has beenchanged that the difference associated with changes in equity in subsidiaries remaining under the control of the Company isrecorded as capital surplus, and acquisition-related costs are recorded as expenses for the fiscal year in which the costs areincurred For business combinations implemented on or after the beginning of the three months ended June 30, 2015, theaccounting method has been changed to reflect the adjustments to the allocated amount of acquisition costs on the finalization ofprovisional accounting treatment in the consolidated financial statements for the quarter containing the date of the businesscombinations.
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 three months
ended June 30, 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 asprescribed in article 58-2 (3) of the Business Combinations Accounting Standard, article 44-5 (3) of the Consolidation AccountingStandard and article 57-4 (3) of the Business Divestitures Accounting Standard was applied. The cumulative impact of theretroactive 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 and retained earnings.
As a result of this change, as of the beginning of the three months ended June 30, 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 three months ended June 30, 2015 all increased by 48 million yen.

6

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

(Millions of yen)

Reportable Segments
Cardiac &VascularCompanyGeneral
HospitalCompany

BloodManagement
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

53,48038,00523,459114,945

－

－－－－－

－

53,48038,00523,459114,945－

114,945

Segment income (Excl. Amortization)

11,405

4,570

4,227

20,20441

20,246

Segment income (loss)

10,9794,570

522

16,073

41

16,114

21.3

12.0

18.0

17.6

－

17.6

Internal sales
Sales total

Segment income(%)(Excl. Amortization)

114,945

Notes: 1. The 41 million yen adjustment to segment income is the sum of (20) million yen for inventories and 61 million yenfor others.
2. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated incomestatement.
(2) The First Quarter of Fiscal Year Ending March 31, 2016

(Millions of yen)

Reportable Segments
Cardiac &VascularCompanyGeneral
HospitalCompany

BloodManagementCompany

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

63,19539,48425,980128,660－－－－－－－

Sales total

63,19539,48425,980128,660－

128,660

Segment income (Excl. Amortization)

14,112

5,602

5,395

25,110(571)

24,539Segment income (loss)

13,6595,602

758

20,020(571)

19,449

22.3

14.2

20.8

19.5

Internal sales

Segment income(%)(Excl. Amortization)

128,660－

19.1

Notes: 1. The (571) million yen adjustment to segment income is the sum of (764) million yen for inventories and 193 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 ballooncatheters, 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 Company

7