August 9, 2023

Consolidated Financial Results
for the First Quarter Ended June 30, 2023
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:
August 10, 2023
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 three months ended June 30, 2023 (from April 1, 2023 to June 30,2023)(1) Consolidated operating results (cumulative)
RevenueThree months
ended
June 30, 2023
June 30, 2022

Millions ofyen%

215,252
197,3409.1
14.9(Percentages indicate year-on-year changes.)

Operating profit

Profit before tax

Millions ofyenMillions ofyen%

29,644 (2.6)
30,427 (16.0)

Basic earnings
per share
Three months
ended

%

29,804
0.5
29,667 (17.6)

Millions ofyen%Millions ofyen

22,5490.7
22,398 (19.7)

Total
comprehensive
income%Millions ofyen%

22,5490.7
22,398 (19.7)

107,172
117,743

(9.0)
311.8

Diluted earnings
per share
Yen

Yen

June 30, 2023

30.28

30.27

June 30, 2022

29.61

29.60

(Note) Adjusted operating profit

Profit attributableto owners of theparentProfit for theperiodJune 2023: 34,478million yen

June 2022: 35,893million yen(2) Consolidated financial position
Total assets
As ofTotal equity

Equity attributable toowners of the parent

Ratio of equity
attributable to owners of
the parent to total assets

Millions of yen

Millions of yen

Millions of yen

June 30, 2023

1,670,798

1,202,660

1,202,660

72.0%

March 31, 2023

1,602,225

1,111,063

1,111,063

69.3

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024－

Fiscal year-end

Total

Yen

Yen

19.00

－

21.00

40.00

22.00

－

22.00

44.00

－

Fiscal year ending
March 31, 2024
(Forecast)(Note) Revision from the dividend forecast, which is published in the most recent: None
3. Consolidated Forecast for the Fiscal Year Ending March, 2024 (From April 1, 2023 to March 31, 2024)(Percentages indicate year-on-year changes.)
Adjusted operating
profitRevenue
Fiscal year ending
March, 2024

Profit for the year
attributable to ownersof the parent

Operating profit

Earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

854,000

4.1

151,000

9.4

132,500

12.9

101,000

13.1

135.98(Note 1) Revision of forecast for the fiscal year ending March, 2024: None
(Note 2) The Company has resolved at the meeting of the Board of Directors held on August 9, 2023 to acquire its
treasury shares. Basic earnings per share is calculated by taking into consideration effects of theacquisition of its treasury shares.
(Note 3) Assumed exchange rate for fiscal year ending March, 2024: USD1=JPY130, EUR1=JPY145

*Notes(1) Changes in significant subsidiaries during the current quarterly consolidated cumulative period (changes in
specified subsidiaries resulting in the change in 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: Yes(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None
* Please refer to [Attachment], page 11, “2. Condensed Consolidated Financial Statements (4) Notes
Pertaining to Condensed Consolidated Financial Statements (ii) Changes in accounting policy”.
(3) Number of shares outstanding (common stock)(i) Number of shares outstanding at the end of
the period (including treasury shares)

As of June 30, 2023

747,682,540 shares As of March 31, 2023

747,682,540 shares(ii) Treasury shares at the end of the period

As of June 30, 2023

3,038,393 shares As of March 31, 2023

3,074,907 shares(iii) Average number of shares during theperiod (cumulative quarterly)

Three months ended
June 30, 2023

Three months ended
June 30, 2022

756,348,644 shares

744,640,835 shares* Quarterly financial statements are not subject to quarterly reviews by certified public 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 the Company that it will achieve these goals. In addition, actual results may differ
significantly due to various factors. For the assumptions that are the premise of the earnings forecast and theprecautions for using the earnings forecast, refer to [Attachment], page 5, “1. Overview of Financial Results
for the First Quarter of the Fiscal Year Ending March 31, 2024 (3) Forecasts, including the Consolidated
Financial Results for the Fiscal Year Ending March 31, 2024”.
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.

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

 Table of contents of attached materials
1. Overview of Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024 .......................... 2(1) Overview of Consolidated Business Results ..................................................................................................... 2(2) Overview of Consolidated Statement of Financial Position .............................................................................. 5(3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2024 ............. 5
2. Condensed Consolidated Financial Statements ..................................................................................................... 6(1) Condensed Consolidated Statement of Financial Position ................................................................................ 6(2) Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement ofComprehensive Income .................................................................................................................................. 8(3) Condensed Consolidated Statement of Changes in Equity.............................................................................. 10(4) Notes Pertaining to Condensed Consolidated Financial Statements ................................................................ 11(i) Going Concern Assumption ........................................................................................................................... 11(ii) Changes in Accounting Policy ...................................................................................................................... 11(iii) Segment Information ................................................................................................................................... 11(iv) Subsequent Events ...................................................................................................................................... 14－ 1 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

1. Overview of Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024
(1) Overview of Consolidated Business Results
In the first quarter of the current fiscal year (from April 1 to June 30, 2023), the Group’s sales trended strongly
amid growing demand for products globally and the effects of foreign exchange rates. Operating profit slightly
decreased, while gross profit increased because of the revenue increase. We expanded operating expense
investments for growing markets.
Financial results for the first quarter are as follows:(Unit: Millions of yen)
For the threemonths ended
June 30, 2022

For the threemonths ended
June 30, 2023

Growthexcluding
FX impact (%)

Revenue

197,340

215,252

9.1

5.0

Gross profit

101,637

109,7998.0

5.4

Adjusted operating profit

35,893

34,478

(3.9)

(3.7)

Operating profit

30,42729,644

(2.6)

(1.4)

Profit before tax

29,66729,804

0.5－

Profit for the period

22,39822,5490.7－

Profit for the period
attributable to owners of theparent22,39822,5490.7－

Growth (%)

Revenue by geographic areas for the first quarter is as follows:(Unit: Millions of yen)
For the threemonths ended
June 30, 2022

For the threemonths ended
June 30, 2023

Japan

49,86947,454

(4.8)

(4.8)

Europe38,57444,36815.0

6.7

Americas66,24474,045

11.8

6.0

China

19,36919,9553.0

3.0

Asia and others

23,282

29,42826.4

21.8

Overseas total

147,470

167,798

13.8

8.3

Total

197,340

215,252

9.1

5.0

Geographic areas－ 2 －Growth (%)

Growthexcluding
FX impact (%)

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

Revenue
Revenue totaled ¥215.3 billion, an increase of 9.1% versus the same period in the previous fiscal year.
In Japan, overall revenue decreased by 4.8% year on year, amid weaker sales of nutrition products of Hospital
Care Solutions division, which was sold in the previous fiscal year, and changes in the timing of productdeliveries of Pharmaceutical Solutions division, which pursues alliance business with pharmaceutical companies.
Overseas, revenue increased 13.8% year on year owing to increased demand in TIS (catheter) division and forblood centers business, along with the effects of foreign exchange rates.
ProfitGross profit totaled ¥109.8 billion, an increase of 8.0% versus the same period in the previous fiscal year,
because of the higher revenue.
Adjusted operating profit was ¥34.5 billion, a decrease of 3.9% versus the same period in the previous fiscal
year. This was due to an increase of selling, general and administrative expenses by expanding operating expense
investments for growing markets.
Operating profit declined due to the decrease in adjusted operating profit. Profit before tax, and profit for theperiod attributable to owners of the parent each increased due to a decrease in finance costs.
Adjusted operating profit is a non-IFRS performance indicator that we disclose. 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.
Adjusted operating profit is being used as an indicator for corporate management to grasp earnings performancein each business as a part of our goal to achieve sustainable growth in the mid- to long-term. We believe this isalso effective data for individuals using our financial statements to assess the Terumo Group’s earnings.

－ 3 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

Revenue results of the reportable segments are as follows:(Unit: Millions of yen)
For the threemonths ended
June 30, 2022

For the threemonths ended
June 30, 2023

Growth (%)

Growthexcluding
FX impact (%)

Revenue

116,825

130,584

11.8

6.9(Japan)12,853

13,073

1.7

1.7(Overseas)

103,972

117,510

13.0

7.6

Revenue

45,992

43,681

(5.0)

(6.5)

(Japan)34,512

31,887

(7.6)

(7.6)

(Overseas)

11,48011,794

2.7(3.1)

Revenue

34,45940,92418.8

13.6(Japan)

2,441

2,430

(0.4)

(0.4)

(Overseas)

32,01838,49320.2

14.7

Segment
Cardiac and
VascularCompany
Medical Care
SolutionsCompany
Blood and Cell
Technologies
Company

Cardiac and Vascular Company
In Japan, revenue increased slightly year on year as there was a lag in the recovery in the number ofendovascular treatment procedures. Amid this, Vascular Graft division posted double digit growth from thelaunch of new products. Overseas, revenue increased 13.0% year on year buoyed by new products of Vascular
Graft division and growing demand in TIS (catheter) division. As a result, global revenue increased 11.8% overthe same period of the previous fiscal year to ¥130.6 billion.
Medical Care Solutions Company
In Japan, overall revenue decreased by 7.6% year on year, amid weaker sales of nutrition products in Hospital
Care Solutions division, which was sold in the previous fiscal year, and variability in the timing of productdeliveries in Pharmaceutical Solutions division, which pursues alliance business with pharmaceutical companies.
Overseas, revenue was strong, up 2.7% year on year. As a result, global revenue declined 5.0% over the same
period of the previous fiscal year to ¥43.7 billion.
Blood and Cell Technologies Company
In Japan, revenue declined due to weaker sales of products related to blood therapies. Overseas, revenue
increased 20.2% year on year, driven by strong sales in blood center business amid growing demand for blood
component collection systems in North America and for blood transfusions in Asia and other locations. As aresult, global revenue increased 18.8% over the same period of the previous fiscal year to ¥40.9 billion.

－ 4 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(2) Overview of Consolidated Statement of Financial Position
Total assets stood at ¥1,670.8 billion, an increase of ¥68.6 billion. This was mainly owing to an increase ininventories of ¥22.9 billion due to the impacts of depreciated yen, as well as property, plant and equipment of¥18.3 billion and goodwill and intangible assets of ¥38.5 billion due to the aforementioned foreign exchange
rates impact and investment in manufacturing facility and new IT systems, which offset the decrease in cash
and cash equivalents of ¥27.3 billion from the redemption of corporate bonds and payment of dividends.
Total liabilities came to ¥468.1 billion, a decrease of ¥23.0 billion. This was mainly attributed to the decreases
in trade and other payables of ¥12.2 billion owing to equipment-related payments and in income taxes payableof ¥7.6 billion due to the payment of income tax.
Total equity was ¥1,202.7 billion, an increase of ¥91.6 billion. This mainly reflects an increase from posting
profit for the period of ¥22.5 billion, as well as the booking of other comprehensive income associated withthe aforementioned foreign exchange rates impact resulted in a ¥84.6 billion increase, which offset thedecrease of ¥15.6 billion from dividends from retained earnings.
(3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2024
No changes have been made to the forecasts of consolidated financial results announced on May 15, 2023.
Although the operating environment is expected to remain uncertain due to changes in the environment
surrounding the medical device and pharmaceutical industries and trends in foreign exchange rates, to achieve
its targets the Group will focus on the following: development and sales expansion of high value-added
products that contribute to improving the quality and efficiency of medical care, continuous cost improvement,
and effective management of selling, general and administrative expenses.

－ 5 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

2. Condensed Consolidated Financial Statements(1) Condensed Consolidated Statement of Financial Position（Unit: Millions of yen）
As of
June 30, 2023

As ofMarch 31, 2023
AssetsCurrent assets
Cash and cash equivalents

187,322160,052

Trade and other receivables

150,635

157,136

Other current financial assets

106

19,106249,618

272,501

Current tax assets

2,920

3,442

Other current assets

20,793

21,443

Total current assets

611,396

633,681

Property, plant and equipment

370,869

389,177

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

538,210576,720

3,680

3,598

34,421

23,773

Deferred tax assets

20,45821,300

Other non-current assets

23,18722,547

Total non-current assets

990,829

1,037,117

1,602,225

1,670,798

Inventories

Non-current assets

Total assets－ 6 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

（Unit: Millions of yen）
As of
June 30, 2023

As ofMarch 31, 2023
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

97,73685,511

Bonds and borrowings

11,223

153,854

Other current financial liabilities

7,597

8,512

Current tax liabilities

23,563

15,992329

310

Other current liabilities

77,55175,187

Total current liabilities

218,001

339,368

Bonds and borrowings
Other non-current financial
liabilities
Deferred tax liabilities

220,71474,972

29,63930,697

8,870

8,569

Retirement benefit liabilities

4,703

5,066

127

138

Other non-current liabilities

9,106

9,324

Total non-current liabilities

273,161

128,769

491,162

468,137

Share capital

38,716

38,716

Capital surplus

51,75951,822

Treasury shares(11,539)(11,403)

Retained earnings

874,272

881,113

Other components of equity
Total equity attributable to owners of
the parent
Total equity

157,855

242,4121,111,063

1,202,660

1,111,063

1,202,660

1,602,225

1,670,798

Provisions

Non-current liabilities

Provisions

Total liabilities
EquityTotal liabilities and equity－ 7 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(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 three months ended
For the three months ended
June 30, 2022
June 30, 2023
Revenue
197,340
215,252
Cost of sales
95,702
105,453
Gross profit
101,637
109,799
Selling, general and administrative expenses
70,62780,492Other income
1,902
970
Other expenses
2,484
632
Operating profit
30,42729,644
Finance income
515
593
Finance costs
1,264
444
Share of profit/(loss) of investments(10)
11
accounted for using the equity method
Profit before tax
29,66729,804
Income tax expenses
7,268
7,254
Profit for the period
22,39822,549Attributable to:
Owners of the parent
Total profit for the period

22,39822,39822,54922,549Earnings per share
Basic earnings per share (yen)Diluted earnings per share (yen)

29.61
29.60

30.28
30.27

－ 8 －

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(Condensed Consolidated Statement of Comprehensive Income)

Profit for the period

For the three months ended
June 30, 2022
22,398Other comprehensive income
Items that will not be reclassified to profit orloss
Changes in financial assets measured at fairvalue through other comprehensive income
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 be reclassified
subsequently to profit or loss
Total other comprehensive income/(loss)
for the period
Total comprehensive income for the period（Unit: Millions of yen）
For the three months ended
June 30, 2023
22,549

6

(64)

6

(64)

95,39584,564

109

207

(166)

(84)

95,33884,687

95,34584,622

117,743

107,172

117,743

107,172

117,743

107,172

Attributable to:
Owners of the parent
Total comprehensive income for the period(Note) Items in the above statement are net of tax.

－ 9 －[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(3) Condensed Consolidated Statement of Changes in Equity（Unit: Millions of yen）
Equity attributable to owners of the parent
Other
Capital Treasury Retained
components
surplussharesearnings
of equity

Share
capitalBalance as of April 1, 2022

Total

Total equity

38,71651,921(6,229)846,978

Profit for the period

-

-

-

22,398-22,39822,398Other comprehensive income

-

-

-

-

95,345

95,345

95,345---22,39895,345

117,743

117,743

Acquisition of treasury shares

-

-

(0)

-

-

(0)

(0)

Disposal of treasury shares

-

20

83

-

(103)

0

0

Dividends
Transfer from othercomponents of equity toretained earnings
Share-based payments
Total transactions with owners of
the parent
Balance as of June 30, 2022

-

-

-

(13,613)- (13,613)(13,613)

-

-

-

(107)

107

-

-

-

51

-

-

19

71

71

-

72

82

(13,720)22 (13,543)(13,543)

38,71651,994(6,147)

855,655

176,294 1,116,514

1,116,514

Total comprehensive income

80,926 1,012,313

1,012,313（Unit: Millions of yen）
Equity attributable to owners of the parent
Other
Capital Treasury Retained
components
surplussharesearnings
of equity

Share
capitalBalance as of April 1, 2023

Total

Total equity

38,71651,759(11,539)874,272

Profit for the period

-

-

-

22,549-22,54922,549Other comprehensive income

-

-

-

-

84,622

84,622

84,622---

22,54984,622

107,172

107,172

Acquisition of treasury shares

-

-

(0)

-

-

(0)

(0)

Disposal of treasury shares

-

(72)

138

-

(65)

0

0

Dividends
Transfer from retained
earnings to capital surplus
Share-based payments
Total transactions with owners of
the parent
Balance as of June 30, 2023

-

-

-

(15,636)- (15,636)(15,636)

-

72

-

(72)

-

-

-

-

63

(0)

-

-

62

62

-

63

136

(15,709)(65) (15,575)(15,575)

38,716

51,822(11,403)881,113242,412 1,202,660

1,202,660

Total comprehensive income－ 10 －

157,855 1,111,063

1,111,063

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(4) Notes Pertaining to Condensed Consolidated Financial Statements(i) Going concern assumption
Not applicable(ii) Changes in accounting policy
The Group has adopted the standard and interpretation below from the first quarter of the fiscal year ending
March 31, 2024.
Standard/Interpretation
IAS 12

Income taxes

Outline of the new standards, interpretations and amendments
Clarification of the accounting for deferred tax on leases anddecommissioning obligations (Transactions for which companies
recognize both an asset and a liability)

There is no material effect of adopting these standards on the Group’s condensed consolidated financial
statements for the first quarter of the fiscal year ending March 31, 2024.
(iii) 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 inhouse company plans their own comprehensive domestic and international strategies and conducts their own
business activities.
The three segments are Cardiac and Vascular Company, Medical Care Solutions Company, and Blood and Cell
Technologies Company.

－ 11 －

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

(2) Reportable segment information
Revenue and operating results of the reporting segments of the Group are described below.
For the three months ended June 30, 2022

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

MedicalCare
SolutionsCompany

Blood and
Cell
Technologies
Company

116,825

45,992

34,459197,278

62

197,340

28,011

4,466

3,613

36,092(198)

35,893(2,174)-(2,449)(4,623)51(4,572)

Total

(893)

Operating profit

30,427

Finance income

515(1,264)

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
methodProfit before tax(10)
29,667(Note 1) Amounts in “Adjustments” are as follows:(1) ¥62 million adjustments to Revenue from sales to external customers is mainly proceeds fromoutward temporary staffing that is not attributable to reportable segments.
(2) ¥(198) million adjustment to Segment profit consists of ¥(720) million for preparation expenses tocomply with Medical Device Regulation in EU and ¥(212) million for inventories.
(Note 2) ¥(893) million Non-recurring profit or loss mainly includes ¥(1,699) million for impairment loss oftechnologies , ¥(483) million for business reorganization expenses and ¥1,290 million for thechange in fair value of contingent consideration.

－ 12 －

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024

For the three months ended June 30, 2023

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

MedicalCare
SolutionsCompany

Blood and
Cell
Technologies
Company

130,584

43,68140,924215,19062215,252

26,883

2,814

5,857

35,554(1,076)34,478(2,224)-(2,529)(4,754)138(4,615)

Total

(218)

Operating profit

29,644

Finance income

593
(444)

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

1129,804(Note 1) Amounts in “Adjustments” are as follows:(1) ¥62 million adjustment to Revenue from sales to external customers is mainly proceeds fromoutward temporary staffing that is not attributable to reportable segments.
(2) ¥(1,076) million adjustment to Segment profit consists of ¥(722) million for preparation
expenses to comply with Medical Device Regulation in EU and ¥(416) million for inventories.
(Note 2) ¥(218) million Non-recurring profit or loss is business reorganization expenses.

－ 13 －

[Terumo Corporation] Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024(iv) Subsequent events(1) Transfer of shares of equity method affiliate

The Company agreed with Olympus Corporation to transfer the Company’s all shareholdings of Olympus
Terumo Biomaterials Corporation, the Company’s equity method affiliate, to Olympus Group on July 24,
2023.
The transfer was completed on August 4, 2023. As a result, the gain on sale of securities of ¥1,335 million will
be recognized in “Other income” in the Condensed Consolidated Statement of Profit or Loss for the second
quarter ending September 30, 2023.

(2) Acquisition and cancellation of treasury shares

The Company has resolved at the meeting of the Board of Directors held on August 9, 2023 to acquire its
treasury shares pursuant to the Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3
of Article 165 of the said act, and to cancel a part of its treasury shares pursuant to the Article 178 of the saidact.
1) Reason for acquisition and cancellation of treasury shares
To enhance shareholder return and improve capital efficiency
2) Details of acquisition(a) Class of shares to be acquired
The Company’s common stock(b) Total number of shares to be acquired
5,000 thousand shares (maximum)(0.67% of the total number of issued shares excluding treasury shares)(c) Total value of shares to be acquired
20 billion yen (maximum)(d) Acquisition period
From August 14, 2023 to March 8, 2024(e) Acquisition method
Purchase on the market of Tokyo Stock Exchange
3) Details of cancellation(a) Class of shares to be cancelled
The Company’s common stock(b) Total number of shares to be cancelled
All of the shares acquired as stated in 2) above(c) Planned cancellation date
March 19, 2024

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