Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2013

Terumo Corporation
July 31, 2012

Consolidated Q1 Results(billions of yen)

Q1Mar. 2012

Q1Mar. 2013

YoY%

Net Sales

95.6

95.9+ 0%Gross Profit

50.9 (53.2%)

51.7 (53.9%)+ 2%

SG&A Expenses

28.4 (29.7%)

30.2 (31.5%)+ 6%

R&D Expenses

5.1 ( 5.3%)

6.0 ( 6.3%)+18%

Operating Income

17.4 (18.2%)

15.5 (16.1%)-11%(Excl. Amortization of goodwill)

19.3 (20.2%)

17.4 (18.2%)-10%Ordinary Income

16.9 (17.6%)

13.0 (13.5%)-23%Net Income

9.8 (10.2%)

8.2 ( 8.5%)-17%

Average Exchange Rate

US$ 82 yen

80 yenEUR 117 yen

103 yen
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Net Sales (by Region)(billions of yen)

Consolidated：+0% (+3%)

Q1
Mar. 2012

Q1
Mar. 2013( )Excluding Foreign Exchange

Japan+2%

44.7 45.5

Outside of Japan-1%(+4%)51.0 50.4-9%(+0%)

19.5
17.7

Americas +3%(+5%)

19.9
20.5

EuropeChina+30%(+32%)

Asia-5%& Others (+0%)
2012/7/31

3.2
4.2
8.4
8.0

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Net Sales (by Business Segment)(billions of yen)

+1%(+3%)

Q1Mar. 2012+3%(+7%)

Q1
Mar. 2013( )Excluding Foreign Exchange-8%(-5%)
38.2
37.6

41.1
40.0
18.0 16.6

GeneralHospital

Cardiac &Vascular

Blood
Management
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Net Sales (by Business Segment, JP/Outside JP)(YoY %): Excluding Foreign Exchange

BusinessSegment

Japan

Outside of Japan

GeneralHospital

31.2 billion yen

6.9 billion yen

（ 4%）

（-3%）

Cardiac &Vascular

11.7 billion yen

29.3 billion yen

（-2%）

（11%）

BloodManagement

2.6 billion yen

14.1 billion yen

（-7%）

（-5%）
2012/7/31©Terumo Corporation

5/18Gross Profit Variance Analysis
0.8
2.3

1.0

Foreign
Exchange

Production
volume0.2 Shift to High

53.2%

Cost Profit Products
reduction

Q1Mar. 2012

Average
Exchange Rate
US$:
EUR:

1.0Prices

1.0

Cost for
Quality System
improvement

53.9%

Q1Mar. 201282 yen
117 yen

Q1Mar. 2013
80 yen103 yen

2012/7/31

Q1Mar. 2013

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SG&A Expenses(billions of yen)

Q1 Mar. 2012

Q1 Mar. 2013

YoY

YoY%

Salaries & Wages

12.2

12.7+ 0.5+4%

Sales Promotion

2.7

2.9+ 0.2+6%

Logistical Costs

2.5

2.5- 0.0-1%Depreciation &Amortization

4.3

4.4+ 0.1+1%

Others6.7

7.7+ 1.0+17%28.4 (29.7%)

30.2 (31.5%)+1.8+6%

R&D Expenses

5.1

6.0(6.3%)+ 0.9+18%

SG&A Expenses Total

33.5 (35.0%)

36.2 (37.8%)

+2.7

+8%

General Administrative
Total(5.3%)( ) %: Against net sales
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Operating Income Variance Analysis(billions of yen)

2.1
6.0

Revision of JP
reimbursement
price

2.2
Foreign
Exchange

Increase ingross profit

0.9
Cost for
1.8Quality
IncreaseSystem
improvement in SG&Aexpenses

17.4

Q1
Mar. 2012

0.9
Increasein R&D
expenses

15.5

Average
Exchange Rate
US$:
EUR:

Q1
Mar. 201282 yen
117 yen

Q1Mar. 2013
80 yen103 yen

2012/7/31

Q1Mar. 2013

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Topics
1. Q1 Results to 1H Forecast

2. Steady Increase in Interventional Systems outside JP

3. Terumo BCT Status

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Q1 Results to 1H Forecast
 Sales is in line, operating income is above forecast
Q1 Result

1H Forecast

Progress: 49%(billions of yen)

195.0200
150
100

95.9

Progress: 54%(billions of yen)

28.5302015.5

105000

Sales

Operating Income
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Steady Increase in Interventional Systems Sales outside JP Sustaining high growth of the sales (at constant currency)
Q1 Mar. 2012

Q1 Mar. 2013

10%(billions of yen)

1%

12%
35%

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Terumo BCT Status
 Sales Integration¾ EU: all products are now distributed by direct sales force
thru previous BCT’s channel¾ JP & Asia: utilize previous Terumo’s sales channel

 Production Integration and Expansion¾ A new factory will be constructed in the southern part ofVietnam to manufacture both whole blood collection andapheresis products

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Reference

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Capital Expenditure, R&D Expenses(billions of yen)Mar. 2012

Mar. 2013
Forecast

Q1Mar. 2013

CapitalExpenditure*

26.6

38.0

6.5(17%)

Depreciation &Amortization*

28.8

32.5

7.7(24%)R&D Expenses

24.3

27.06.0(22%)* Including intangibles%: Progress to forecast

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Foreign Exchange Sensitivity
US$EURNet Sales

1.6 billion yen

0.7 billion yen

Operating
Income0.4 billion yen

0.4 billion yen Incl. the sales of sub-subsidiaries at foreign currency
 Incl. the impact of goodwill

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Gross Profit, SG&A Expenses, Operating Income(%)

GrossProfit

53.2

55.0

51.7

51.8

53.9

SG&AExpenses

35.0

36.9

36.2

38.3

37.8

Operating
Income

18.2

18.1

Ｑ1
Mar. 2012

Ｑ2

15.5

13.5

Ｑ3Ｑ4

2012/7/31

16.1
Ｑ1
Mar. 2013(Quarterly: 3 months)©Terumo Corporation
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Changes of Quarterly Average Exchange Rates
(yen)
130

ＥＵＲ(Mar. 2012)
117
110

110

104

104

78

77

79

Q2Q3Q4ＥＵＲ(Mar. 2013)
103

90

ＵＳ＄(Mar. 2012)
8280

70ＵＳ＄(Mar. 2013)

Q1(Quarterly: 3 months)
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IR Contact
Terumo Corporation
Corporate Communication (IR) Dept.
E-mail: kouhou_terumo01@terumo.co.jp

Among the information that Terumo discloses, the forward-looking statements
including financial projections are based upon our assumptions using information
available to us at the time and are not intended to be guarantees of future events orperformance. 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.
The market share information in this presentation is partly derived from our own
independent research.

2012/7/31©Terumo Corporation

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