Terumo Corporation
IFRS Financial Results for the Second Quarter ofthe Fiscal Year Ending March 31, 2019

1IFRS Financial Results for the Second Quarter of the Fiscal Year Ending March 31, 2019
November 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:
Please address all communications toPhone

1. Consolidated Financial Highlights for the Six Months Ended September 30, 2018
(From April 1, 2018 to September 30, 2018)(1) Consolidated operating results(Notes: The amounts shown below ignore values of less than a million yen)

Revenue

Operating profit

Profit before tax(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)

284,997
284,6100.1－

47,582
57,175(16.8)－

44,52756,765(21.6)－

34,38941,115Six months ended September, 2018
Six months ended September, 2017

Profit for the period
attributable to theowners of the parent

Profit for the period

Total comprehensive
income for the period% (Millions of yen)%(Millions of yen)%

34,454
41,171(16.3)－72,31752,86336.8－(16.4)－Earnings per share,
fully diluted

Earnings per share
(Yen)

(Yen)

Six months ended September, 2018
95.65
Six months ended September, 2017116.97(Notes)Adjusted operating profit: September 2018: 55,296million yen

90.90
109.23September 2017: 64,798 million yen(2) Consolidated financial position
Total assets

As of September 30, 2018
As of March 31, 2018

Equity attributable to theowners of the parent

Net assets

Equity attributable to theowners of the parent ratio(Millions of yen)

(Millions of yen)

(Millions of yen)%

1,134,938
1,078,981

678,081
550,435

677,936
550,30759.7
51.0

2. Dividends
Cash dividends per share
1st quarter2nd quarter3rd quarter

4th quarter

Total(Yen)

(Yen)

(Yen)

(Yen)

(Yen)

－

23.00
27.00

－

27.00

50.00

－

27.00

54.00

Year ended March, 2018Year ended March, 2019Year ending March, 2019 (forecast)(Notes) Revise of dividends forecast : None－

3. Consolidated Forecast for the Year Ending March, 2019 (From April 1, 2018 to March 31, 2019)

Revenue(Millions of yen)

Adjusted operating profit%(Millions of yen)%

Profit for the year
attributable to the ownersof the parent

Operating profit(Millions of yen)

Earnings per share%(Millions of yen)

%

(Yen)

Year ending March, 2019
597,000
1.6
122,000(2.3)
108,000(0.5)(Notes) 1)Revise of forecast for fiscal year ending March, 2019 : None
Assumed exchange rate for fiscal year ending March, 2019: USD1=JPY105, EUR1=JPY1302)Earnings per share is calculated by taking consideration effects of the conversion of convertible bond in the second quarter.

78,500(14.0)

214.83Among 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 onlimited 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.

24. Consolidated Financial Statements① Consolidated Statements of Financial Position
As ofMarch 31, 2018

（Unit: Millions of yen）
As ofSeptember 30, 2018

AssetsCurrent assets
Cash and cash equivalents

167,832

180,746

Trade and other receivables

121,402116,319

Other current financial assets

659

370

112,064

127,715

Current tax assets

530

866

Other current assets

8,421

9,423

Total current assets

410,912435,442

Property, plant and equipment

179,196

188,120Goodwill and intangible assets

442,660

465,420

Inventories

Non-current assetsInvestments accounted for using the equity
methodOther non-current financial assets

5,710

5,727

13,815

15,276

Deferred tax assets

23,356

21,838Other non-current assets

3,328

3,111

Total non-current assets

668,068

699,496

1,078,981

1,134,938

Total assets3

（Unit: Millions of yen）
As of
September 30, 2018

As ofMarch 31, 2018
Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

67,51568,463

Bonds and borrowings

47,43647,949407

11,59015,970

10,635

198

172

Other current liabilities

47,48342,122

Total current liabilities

179,013

180,934

Bonds and borrowings

288,776

230,427

Other non-current financial liabilities

15,452

1,833

Deferred tax liabilities

24,12424,555

Defined benefit liabilities

10,063

8,491

82

89

Other non-current liabilities

11,032

10,524

Total non-current liabilities

349,532

275,922528,545456,856

Share capital

38,716

38,716

Capital surplus

52,44552,047

Treasury stock(101,546)(35,737)

Retained earnings

588,932

613,202

Other components of equity(28,240)

9,707

550,307677,936

128

144

550,435

678,081

1,078,981

1,134,938

Other current financial liabilities
Current tax liabilities
Provisions

Non-current liabilities

Provisions

Total liabilities
EquityTotal equity attributable to the owners of theparent
Non-controlling interests
Total equity
Total liabilities and equity

4

② Consolidated Statements of Profit or Loss
For the six months ended
September 30, 2017284,610129,201
155,409
99,6852,104
652
57,175992
1,201（Unit: Millions of yen）
For the six months ended
September 30, 2018284,997
130,409
154,588
110,717
5,482
1,771
47,582
1,008
4,005(201)(57)

56,765
15,65041,11544,527
10,13734,389Attributable to:
Owners of the parent
Non-controlling interests
Total profit for the period

41,171(55)
41,11534,454(64)
34,389Earnings per share
Basic earnings per share (yen)Diluted earnings per share (yen)116.97109.23

95.65
90.90

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Other income
Other expenses
Operating profit
Finance income
Finance costs
Share of profit (loss) of investments accounted
for using the equity method
Profit before tax
Income tax expenses
Profit for the period

5③ Consolidated Statements of Comprehensive Income

Profit for the period

For the six months ended
September 30, 2017
41,115（Unit: Millions of yen）
For the six months ended
September 30, 2018
34,389

296

169

296

169

11,20137,497

111

271

139

(10)

(1)

－

11,45137,758

11,74837,92752,86372,31752,92372,382(59)(65)

52,86372,317

Other comprehensive income
Items that will not be reclassified to profit or loss
Changes in financial assets measured at fair value
through other comprehensive income
Total items that will not be reclassified to profit orloss
Items that are or may be reclassified subsequently toprofit or loss
Exchange differences on translation of foreign
operations
Cash flow hedges
Cost of hedging
Share of other comprehensive income/(loss) ofinvestments accounted for using the equity method
Total items that are or may be reclassified
subsequently to profit or loss
Other comprehensive income/(loss) for the period
Total comprehensive income for the period
Attributable toOwners of the parent
Non-controlling interests
Total comprehensive income for the period(Note)

Items in the above statement are net of tax.

6④ Consolidated Statements of Changes in Equity（Unit: Millions of yen）
Share
capitalBalance at April 1, 2017

Equity attributable to the owners of the parent
Other
CapitalTreasury
Retainedcomponents ofsurplus
stock
earnings
equityTotal

Noncontrollinginterests

Total equity

38,71652,478(108,225)

513,578(5,126)

491,421101

491,522

Profit for the period－－－

41,171－

41,171(55)

41,115

Other comprehensive income－－－－

11,751

11,751(3)

11,748

Total comprehensive incomeAcquisition of treasury shares－－－

41,171

11,751

52,923(59)

52,863

－

－

(2)

－

－

(2)

－

(2)

Disposal of treasury shares

－

2

56

(1)

－

56

－

56

Dividends－－－(7,743)－(7,743)－(7,743)

－

－

－

(3)

3

－

－

－

－

－

－

－

－

－

136

136

－

－

－

－

71

71

－

71

－

2

53

(7,749)75(7,618)136(7,482)

38,71652,480(108,172)

547,000

6,700

536,726

177

536,904

Transfer from other componentsof equity to retained earnings
Change in shares of subsidiaries
due to capital increaseShare-based payments
Total transactions with theowners of the Company
Balance at September 30, 2017

SharecapitalBalance at April 1, 2018

Equity attributable to the owners of the parent
Other
CapitalTreasury
Retainedcomponents ofsurplus
stock
earnings
equityTotal

Noncontrollinginterests

Total equity

38,71652,445(101,546)

588,932(28,240)

550,307128

550,435

－

－－

54－

54－

54

38,71652,445(101,546)

588,986(28,240)

550,361128

550,490

Profit for the period－－－

34,454－34,454(64)

34,389Other comprehensive income－－－－37,92837,928(0)37,927

Total comprehensive income
Acquisition of treasury shares－－－

34,45437,92872,382(65)

72,317

－

－

(3)

－

－

(3)

－

(3)

Disposal of treasury shares

－－

131

(42)

(88)

0－

0

Dividends－－－(9,549)－(9,549)－(9,549)

－－

－

－

－

－

81

81

－

－

－

－

108

108

－

108

－

(397)

65,681(645)－

64,637－64,637－(397)

65,809(10,238)

19

55,192

81

55,27338,71652,047(35,737)

613,202

9,707

677,936

144

678,081

Change of the accountingprinciples
Balance after the adjustment

Change in shares of subsidiaries
due to capital increase
Share-based payments
Conversion of convertible bonds
Total transactions with theowners of the Company
Balance at September 30, 201875. Segment information
Reporting segment information
Revenue and operating results of the reporting segments of the Group are described below.
For the second quarter of the fiscal year ended September 30, 2017
（Unit: Millions of yen）

Reportable Segments

Revenue
Revenue from sales toexternal customers
Segment Profit(Adjusted operatingprofit)（Adjustment item）
Amortization ofintangible assets
acquired throughbusiness combinations
Non-recurring profit orloss

Adjustments（Note）

Amountrecorded on
consolidated
financialstatements

CardiacandVascularCompanyGeneral
HospitalCompany

Blood
ManagementCompany

157,572

77,70549,214284,491

119

284,61042,287

13,731

7,781

63,800997

64,798(2,969)－(4,177)(7,146)－(7,146)

Total(475)

Operating profit

57,175

Finance income

992

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
method(1,201)Pre-tax profit

56,765(201)(Note） Amounts in ‘Adjustments’ are as follows:(1) ¥119 million adjustment to revenue from sales to external customers is mainly proceeds from outward
temporary staffing that is not attributable to reportable segments.
(2) ¥997 million adjustment to segment profit consists of ¥ 353million for “inventories” and ¥644 million for“others”.

8For the second quarter of the fiscal year ended September30, 2018
（Unit: Millions of yen）
Amountrecordedon
Adjustments
consolidated(Note）
financialstatements

Reportable Segments

Revenue
Revenue from sales
to external customers
Segment Profit(Adjusted operating
profit)（Adjustment item）
Amortization ofintangible assets
acquired throughbusiness combinations
Non-recurring profit orloss

Cardiac andVascularCompanyGeneral
HospitalCompany

Blood
ManagementCompany

153,464

81,22850,173284,866131

284,997

34,472

13,754

6,988

55,21580

55,296(3,197)－(4,163)(7,361)(124)(7,485)

Total(228)

Operating profit

47,582Finance income

1,008

Finance costs
Share of profit/(loss) ofinvestment accounted
for using the equity
method(4,005)Pre-tax profit

44,527(57)(Note）１．Amounts in ‘Adjustments’ are as follows:(1) ¥131 million adjustment to revenue from sales to external customers is mainly proceeds from outward
temporary staffing that is not attributable to reportable segments.
(2) ¥80million adjustment to segment profit consists of ¥(162) million for “inventories” and ¥243 million for“others”.
２．￥(228) million Non-recurring profit or loss mainly includes ￥1,102 million insurance revenue about
hurricane in Puerto Rico and ￥(1,734) million for the change in fair value of contingent consideration
related to acquisition of Sequent Medical, Inc..

9