Financial Results for the Third Quarter of Fiscal Year Ending March 31, 2018
February 8, 2018
Exchange where listed: TSE

Name of listed company: TERUMO CORPORATION(URL http://www.terumo.com/): 4543: Shinjiro Sato, 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 Nine Months Ended December 31, 2017
(From April 1, 2017 to December 31, 2017)(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)%

436,955
374,394

16.7(5.5)

72,37458,90422.9(8.1)

Nine months ended December, 2017
Nine months ended December, 2016

(Notes) Comprehensive income:Operating income

December 2017: 79,736 million yen (82.7%)(Millions of yen)

(Millions of yen)%

70,663 35.4
52,204 (14.4)%

63,485 99.5
31,822 (26.8)

December 2016: 43,654 million yen (-1.1%)

Net income per share,
fully diluted

Net income per share

Nine months ended December, 2017
Nine months ended December, 2016

Profit attributable toowners of parent

Ordinary income

(Yen)

(Yen)

180.3687.67

167.86
81.79(2) Consolidated financial position
Total assets

Equity ratio

Net assets per share(Millions of yen)

%

(Yen)

1,085,369
1,021,405

554,009489,55451.0
47.9

1,571.48
1,389.70

As of December 31, 2017
As of March 31, 2017
(Notes) Shareholders' equity:

Net assets(Millions of yen)

December 31, 2017: 553,158 million yen

March 31, 2017: 489,145 million yen

2. Dividends
Cash dividends per share
1st quarter

Year ended March, 2017
Year ending March, 2018Year ending March, 2018 (forecast)(Notes) Revise of dividends forecast : NoneTotal

2nd quarter3rd quarter

4th quarter

(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

－－

20.00
23.00

－

22.00

42.00

－

23.00

46.00

3. Consolidated Forecast for the Year Ending March, 2018 (From April 1, 2017 to March 31, 2018)
Net sales(Millions of yen)

Operating income

Net income per share(Millions of yen)%

(Millions of yen)

%

(Yen)

588,000
92,00089,500Year ending March, 2018
14.4
20.1
(Notes) Forecast for fiscal year ending March, 2018 which was announced on May 10, 2017 has been revised.
Assumed exchange rate for fiscal year ending March, 2018: USD1=JPY110, EUR1=JPY120(Assumed exchange rate for fourth quarter ending March, 2018: USD1=JPY110, EUR1=JPY120)
3.

30.6

76,00040.2

215.70%(Millions of yen)

Profit attributable toowners of parent

Ordinary income%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.
3.

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4. Financial Statements(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2017

As of December 31, 2017

AmountAmount(Assets)
III%349,183

Cash and deposits

105,388

154,259Notes and accounts receivable-trade109,508

123,656

Inventories

106,712

115,743

Deferred tax assets

17,501

15,279Other

11,503

13,728

Allowance for doubtful accounts(1,430)Noncurrent assets
1 Property, plant and equipment

421,167(1,499)65.4

660,86660.9

183,12217.9

190,237

17.5

63,31074,196

Machinery, equipment and vehicles

53,35953,357

Land

22,471

22,586

Lease assets

1,780

1,746

Construction in progress

30,44526,700Other

11,754

11,649454,71744.5

439,180

Goodwill

217,334

208,420

Customer relationships

85,33881,355Developed Technology

105,581

100,702

Other

46,4633 Investments and other assets

30,212

31,44812,463

13,297

Deferred tax assets

6,727

5,605

Other
Deferred assets

Total assets

240.5

48,702
3.0

Investment securities, including investments inunconsolidated subsidiaries and affiliates

Retirement benefit assets

38.8

668,052

Buildings and structures

2 Intangible assets

III

34.1

%

Current assets

757

395

10,263

12,148

2.9

4,169

0.5

3,335

0.3

1,021,405

100.0

1,085,369

100.0

(Millions of yen)
As of March 31, 2017

As of December 31, 2017

AmountAmount(Liabilities)
I%

Current liabilities

248,389%
123,569

Notes and accounts payable-trade38,451

Short-term debt

120,000

－

7,853

7,910

Current portion of long-term debt
Lease obligations

231

112

9,688

9,358

Deferred tax liabilities

2357

Provision for bonuses

6,317

3,592

Notes and accounts payable-facilities
Asset retirement obligations

190

142

7,059

6,693

72

－

Other

58,50258,566

Noncurrent liabilities

283,46227.8

407,790

Bonds payable

30,00050,000Convertible bonds with subscription rights to shares

100,135

100,098

Long-term debt

80,578200,515

Lease obligations

230

267

47,501

30,563

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

11.4

37,134

Income taxes payable

Provision for directors' bonuses

II

24.3

143

6,803

6,546

37.6

8487

Other

18,113

19,707

Total liabilities

531,85152.1

531,360

49.0

I

43.2

488,392

45.0

II

Shareholders' equity

440,680

Capital stock

38,716

38,716

Capital surplus

50,92850,928Retained earnings

459,261

506,901

Treasury stock(108,225)(108,154)

Accumulated other comprehensive income

48,464

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

1,706

Deferred gains (losses) on hedges, net of taxes

4.7

64,766

6.0

2,433

(560)

(4)

Foreign currency translation adjustments

56,25770,438

Accumulated adjustments for retirement benefits, net of taxes(8,938)(8,100)III

Stock subscription rights

307

0.0

685

IV

Non-controlling interests

1010.0165

0.0489,55447.9

554,00951.0

1,021,405

100.0

1,085,369100.0

Total net assets
Total liabilities and net assets

30.1

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

For the nine months ended

December 31, 2016

December 31, 2017

AmountAmount%%I

Net sales

374,394100.0

436,955

100.0

II

Cost of sales

170,682

45.6

192,24944.0

203,71254.4

244,705

56.0

Gross profit
IIIIV

Selling, general and administrative expenses

144,80738.7

172,330

39.4

Operating income

58,904

15.7

72,374

16.6

Non-operating income

1,426

0.4

1,688

0.4

3,399

0.8Interest income

372

482

Dividends income

202

109

Royalty income

106

88

Foreign exchange gains
Other
V－

156

744

850

Non-operating expenses

8,126Interest expenses

885

797

Sales discounts

326

330

Foreign exchange losses
Equity in losses of affiliates

3,662

－

421

388

Loss on disposal of inventories

746

7

Amortization of business commencement expenses

833

833

1,249

1,040

Other
Ordinary income
VIVII

2.2

Extraordinary income

52,204

13.9

70,663

16.3

74

0.0

1,253

0.2

586

0.1

71,330

16.3

7,912

1.8

14.5

Gain on sales of property, plant and equipment

74

13

Subsidy income－

154

Gain on adjustment of accounts payable－558

Gain on insurance adjustment－526

Extraordinary expenses

7,657

2.1

Loss on disposal of property, plant and equipment

299

394

Restructuring loss

373

192

Loss on valuation of investment securities

2,178

－

Loss on valuation of other investments

4,805

Income before income taxes
VIII Income taxes－
44,621

11.9

12,876

3.4

Current

15,19523,086

Deferred(2,318)(15,174)

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent431,744

8.563,418

(77)

(0.0)

(67)

(0.0)

31,822

8.5

63,485

14.5

(3) Consolidated statements of comprehensive income
For the nine months ended
December 31, 2016
AmountIIIProfit
Other comprehensive income
Valuation difference on available-for-sale securities, netof taxes
Deferred 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 nine months ended
December 31, 2017
Amount31,744
11,909(2,657)(87)
13,102
1,551

727
555
14,196837

1563,418
16,3181
43,65479,73643,742(88)

79,787(50)

5. Segment Information[Reportable Segments](1) The Third Quarter of Fiscal Year Ended March 31, 2017

(Millions of yen)

Reportable Segments
Cardiac andVascularCompanyGeneral
HospitalCompany

BloodManagement
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

186,570

118,979

68,692374,242－－－－

Sales total

186,570

118,979

68,692374,242152

374,394

Segment income (Excl. Amortization)

47,51917,785

10,28375,588(2,517)73,070

Segment income (loss)

45,56017,785(1,924)

61,422(2,517)58,904

25.5

14.9

15.0

20.2

－

19.5

Internal sales

Segment income(%)(Excl. Amortization)

152

374,394－－

Notes: 1. The 152 million yen adjustment to Sales to customer is proceeds from temporary staffing that is not attributable toreportable segments.
2. The (2,517) million yen adjustment to segment income is the sum of 1,141 million yen for inventories and (3,659)
million yen for others.
3. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated income
statement.

(2) The Third Quarter of Fiscal Year Ending March 31, 2018

(Millions of yen)

Reportable Segments
Cardiac andVascularCompany

GeneralHospitalCompany

Blood
Management
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer

240,038

120,231

76,510436,780－－－－

Sales total

240,038

120,231

76,510436,780174

436,955

Segment income (Excl. Amortization)

61,926

20,844

12,38995,160(876)

94,284

Segment income (loss)

52,736

20,844(329)73,251(876)72,374

25.8

17.3

16.2

21.8

Internal sales

Segment income(%)(Excl. Amortization)

174－－

436,955－

21.6

Notes: 1. The 174 million yen adjustment to Sales to customer is proceeds from temporary staffing that is not attributable toreportable segments.
2. The (876) million yen adjustment to segment income is the sum of 183 million yen for inventories and (1,060) million
yen for others.
3. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated income
statement.

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