Financial Results for the First Quarter of Fiscal Year Ending March 31, 2017
August 4, 2016
Exchange where listed: TSE

Name of listed company: TERUMO CORPORATION(URL http://www.terumo.com/): 4543: Yutaro Shintaku, 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 Three Months Ended June 30, 2016
(From April 1, 2016 to June 30, 2016)(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)%

124,519
128,660(3.2)
11.9

21,356
19,4499.8
20.7

Three months ended June, 2016
Three months ended June, 2015
(Notes) Comprehensive income:Operating income

June 2016: (29,494) million yen (－%)

(Millions of yen)

(Millions of yen)%

15,123 (26.6)
20,592 42.5%

10,110 (30.3)
14,504 72.8

June 2015: 23,150 million yen (522.7%)

Net income per share,
fully diluted

Net income per share

Three months ended June, 2016
Three months ended June, 2015

Profit attributable toowners of parent

Ordinary income

(Yen)

(Yen)

27.86
38.29

25.99
35.83

(2) Consolidated financial position
Total assets

Equity ratio

Net assets per share(Millions of yen)%(Yen)

867,658
901,685474,924
511,54454.7
56.7

1,307.35
1,408.53

As of June 30, 2016
As of March 31, 2016
(Notes) Shareholders' equity:

Net assets(Millions of yen)

June 30, 2016: 474,527 million yen

March 31, 2016: 511,252 million yen

2. Dividends
Cash dividends per share
1st quarter

Year ended March, 2016Year ended March, 2017
Year ending March, 2017 (forecast)(Notes) Revise of dividends forecast : NoneTotal

2nd quarter3rd quarter

4th quarter

(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

－－

19.00

－

20.00

39.00

20.00

－

21.00

41.00

3. Consolidated Forecast for the Year Ending March 2017 (From April 1, 2016 to March 31, 2017)
Net sales(Millions of yen)

Operating income%(Millions of yen)

Profit attributable toowners of parent

Ordinary income%(Millions of yen)%

(Millions of yen)

Net income per share%(Yen)

250,000
35,50032,50021,500
59.23
(3.5)
(9.2)
(9.1)
(20.4)
517,000
75,00071,00052,500144.64
Year ending March, 2017
(1.5)
(8.2)
(2.9)
3.6
(Notes) Forecast for fiscal year ending March, 2017 which was announced on May 10, 2016 has not been revised.
Assumed exchange rate for fiscal year ending March, 2016: USD1=JPY110, EUR1=JPY125
3.
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.
Half year ending September, 2016

1

4. Financial Statements(1) Consolidated balance sheets(Millions of yen)
As of March 31, 2016

As of June 30, 2016

AmountAmount(Assets)
I%
374,746

Cash and deposits

149,672

166,987

Noteｓ and accounts receivable-trade104,426

96,696Inventories

96,454

94,402

Deferred tax assets

14,963

11,683

Other

10,621

11,398

Allowance for doubtful accounts
II(1,390)

Noncurrent assets
1 Property, plant and equipment

379,862(1,305)
57.9

482,792

55.6

175,79419.5

168,98919.5

65,20762,931

Machinery, equipment and vehicles

54,36250,468Land

23,29722,867

Construction in progress
Other

881

860

21,417

21,491

10,6282 Intangible assets

290,514

10,36832.3

261,994

Goodwill

143,707

129,361

Customer relationships

90,75081,498Other

56,056

51,135

3 Investments and other assets

43.8

521,657

Buildings and structures

Lease assets

III

41.5

%

Current assets

55,3486.1

51,80930.2

5.9

Investment securities, including investments inunconsolidated subsidiaries and affiliates

37,72432,964

Deferred tax assets

3,436

4,776

Other

14,186

Deferred assets

5,281

0.6

5,003

0.6

901,685100.0

867,658

100.0

Total assets

214,068(Millions of yen)
As of March 31, 2016

As of June 30, 2016

AmountAmount(Liabilities)
I%

Current liabilities

168,835

Notes and accounts payable-trade36,29434,85361

10

19,83918,986

Short-term debt
Current portion of long-term debt
Lease obligations

149,407

256

204

Current portion of bonds payable

40,00040,000

Income taxes payable

9,778

3,528

Deferred tax liabilities

56

45

Provision for bonuses

5,869

2,850

Provision for directors' bonuses
Notes and accounts payable-facilities
Asset retirement obligations

II

18.7

%

170

37

5,451

5,332

－

298

Other

51,05743,258

Noncurrent liabilities

221,304

Bonds payable

24.6

243,326－

30,000Convertible bonds with subscription rights to shares

100,184

100,172

Long-term debt

58,87357,230

Lease obligations

286

266

45,07940,908Deferred tax liabilities
Provision for directors' retirement benefits
Retirement benefit liabilities
Asset retirement obligations

66

14

8,656

8,341

17.2

28.1

230

64

Other

7,925

6,328

Total liabilities

390,14043.3

392,733

45.3

IShareholders' equity

445,17849.4

448,028

51.6

Capital stock

38,716

II

38,716

Capital surplus

50,92850,928Retained earnings

419,573422,425

Treasury stock(64,040)(64,041)

Accumulated other comprehensive income

66,074

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

16,30813,339(13)(48)

Deferred gains (losses) on hedges, net of taxes

7.3

26,498Foreign currency translation adjustments

63,182

25,740

Accumulated adjustments for retirement benefits, net of taxes(13,403)(12,531)

III

Stock subscription rights

IV

Non-controlling interests

183

0.0

215

3.1

0.0

109

0.0

182

0.0

Total net assets

511,54456.7

474,924

54.7

Total liabilities and net assets

901,685100.0

867,658

100.0

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

For the three months ended

June 30, 2015

June 30, 2016

AmountAmount%%I

Net sales

128,660

100.0

124,519

100.0

II

Cost of sales

59,612

46.3

54,793

44.0
56.0

III

Selling, general and administrative expenses

Gross profit

Operating incomeIV

Non-operating income

53.7

69,72638.6

48,37038.8

19,44915.1

21,356

17.2

2,286

1.8

443

0.4

6,666

5.5

Interest income

203117

Dividends income

108

150

Royalty income

2052

1,755－Foreign exchange gains
OtherV69,047
49,598198

Non-operating expenses

113
1,143

0.9

Interest expenses

373

Sales discounts

104295115

Foreign exchange losses－5,484Equity in losses of affiliates

19246

Loss on disposal of inventories

313

Other

614

520

Ordinary income

20,59216.0

15,123

12.1

VI

Extraordinary income

394

0.3

10.0

VII

Extraordinary expenses

354

0.3

45

0.0

15,079

12.1

4,992

4.0

Gain on sales of property, plant and equipment

394

Loss on disposal of property, plant and equipment

14Impairment loss

45350

Income before income taxes
VIII Income taxes－20,632

16.0

6,130

4.7

Current

5,719

3,020

Differed

411

1,972

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

4

14,502

11.3

10,086

8.1

(2)

(0.0)

(24)

(0.0)

14,50411.3

10,1108.1

(3) Consolidated statements of comprehensive income

III

For the three months ended
June 30, 2015
Amount(Millions of yen)
For the three months ended
June 30, 2016
Amount14,502
8,648

10,086(39,580)

ProfitOther 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

258
58,29985(2,969)(29)(37,447)
872

(1)

5(6)
23,150(29,494)

23,152(2)(29,464)(29)

5. Segment Information[Reportable Segments](1) The First Quarter of Fiscal Year Ended March 31, 2016

(Millions of yen)

Reportable Segments
Cardiac andVascularCompanyGeneral
HospitalCompany

BloodManagement
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer
Internal sales
Sales total

63,19539,48425,980128,660－－－－－－

128,660－

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

Segment income(%)(Excl. Amortization)

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.

(2) The First Quarter of Fiscal Year Ending March 31, 2017

(Millions of yen)

Reportable Segments
Cardiac andVascularCompanyGeneral
HospitalCompany

Blood
Management
Company

Adjustment

Total

Subtotal

Sales and operating income:Sales to customer
Internal sales
Sales total

63,69938,38322,387

124,470－－－－

63,69938,38322,387

124,47049－

124,519－49

124,519

Segment income (Excl. Amortization)

19,510

5,224

2,700

27,436(1,528)25,907

Segment income (loss)

19,0845,224(1,424)

22,884(1,528)21,356

30.6

13.6

12.1

22.0－

20.8

Segment income(%)(Excl. Amortization)

Notes: 1. The 49 million yen adjustment to Sales to customer is proceeds from temporary staffing that is not attributable toreportable segments.
2. The (1,528) million yen adjustment to segment income is the sum of 492 million yen for inventories and (2,021)
million yen for others.
3. Segment income is adjusted to be consistent with operating income shown on the quarterly consolidated incomestatement.

(Note) Main products belonging to each business segment
Business segments
Sub-segments
Interventional Systems (TIS)

Cardiac and Vascular Company

General Hospital Company

Blood Management Company

Main products
Angiographic catheters, PTCA balloon catheters,
Coronary stents, etc.

Neurovascular

Neuro interventional coils, etc.

CV Systems

Oxygenators, Cardio-pulmonary bypass system,
etc.

Vascular Graft

Artificial vascular grafts, Stent grafts

General Hospital Products

Solution sets, I.V.catheters, Infusion pumps,
Syringe pumps, Syringes, Needles, Bloodcollection tubes, 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.

－6Blood bags, Automated blood collection system,
Automated blood component processing system,
Centrifugal apheresis system, Cell expansion
system, etc.