1st Quarter Financial Results for FYE Mar. 2009 (Consolidated)
July 30, 2008
Exchange where listed: TSE

Name of listed company: TERUMO CORPORATION(URL http://www.terumo.com/): 4543: Akira Takahashi, President: Shouji Hatano, General Manager, Corporate Communication Dept.
: +81 / 3-3217 -6550: August 13, 2008

Company code number
Representative:
Please address all communications toPhone
Filing date of 1st quarter financial statements

1. Consolidated financial highlights for the interim period ended June 2008
(From April 1, 2008 to June 30, 2008)(1) Consolidated financial results
Net sales

Operating income

Ordinary income

Net income(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

(Millions of yen)%

77,77175,46917.3

16,241
16,98626.2

18,852
18,59538.2

14,01613,142

63.4

Three months ended June,2008
Three months ended June,2007

Net income per share

Net income per share,
fully diluted(Yen)

(Yen)

72.27
Three months ended June,2008
66.11
Three months ended June,2007(Note) Percentage represent increase (decrease) from the corresponding period in the prior fiscal year.
The amounts shown above ignore values of less than a million yen.
(2) Consolidated financial position
Total assets

Net assets(Millions of yen)

(Millions of yen)

%

(Yen)

400,373
410,918

301,670
288,86775.3
70.3

1,555.06
1,489.10

June 30, 2008
March 31, 2008

Capital asset ratio

Net assets per share(Note) Shareholders' equity : June 30, 2008: 301,570 million yen, March 31, 2008: 288,780 million yen.
The amounts shown above ignore values of less than a million yen.

2. Dividends
Cash dividends per share
1st quarter 2nd quarter 3rd quarter 4th quarter

Fiscal year ended March 31,2008
Fiscal year ending March 31,2009 (forecast)

(Yen)

(Yen)

(Yen)

(Yen)

-

14.00
16.00

-

18.00
16.00

total
32.00
32.00

(Note) Revise of dividends forecast : None

3. Consolidated forecast for the year ending March 2009 (From April 1, 2008 to March 31, 2009)
Net sales(Millions of yen)Interim year ending September, 2008

Fiscal year ending March, 2009

155,000
318,000

Operating income%(Millions of yen)

3.8

34,00068,000%(Millions of yen)%

(Millions of yen)

%

(Yen)

1.6

34,00068,0005.922,500
45,0003.7

116.02232.04(Note) Revise of consolidated forecast : None
Percentage represent increase (decrease) from the corresponding period in the prior fiscal year.

1Dividends
per share

Net income

Ordinary income

4. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of June 30, 2008
Amount(Assets)
I Current Assets

195,711%
48.9%

As of March 31, 2008
Amount218,072

Cash on hand and in banks

60,64987,343

Trade notes/accounts receivable

70,89369,048Merchandise

4,499

3,821

Finished goods

27,74025,825

Raw material

12,332

10,506Work in process

6,176

5,735

Supplies

2,474

2,849

Deferred income taxes - current

6,306

8,998

Other current assets

5,466

4,744

Allowance for doubtful accounts

(828)

(801)

%
53.1%

II Fixed Assets

204,66151.1%

192,846

46.9%

1. Tangible fixed assets

113,599

28.4%

112,744

27.4%

Buildings and structures

44,14044,121

Machinery and transportation equipment

35,21235,602

Land

20,44020,404

Construction in progress

7,037

6,412

Other tangible fixed assets

6,768

6,202

2. Intangible fixed assets

35,9088.9%

35,125

Goodwill

30,81130,202Other intangible fixed assets

5,097

4,922

3. Investments and other fixed assets

55,15213.8%

44,976

Investments in securities

42,63540,527

Deferred income taxes - noncurrent

5,351

1,878

Other assets

7,165

2,570

Total Assets

400,3732

100.0%

410,918

8.6%

10.9%

100.0%

(Millions of yen)
As of June 30, 2008
Amount(Liabilities)
I Current Liabilities

90,857%
22.7%

As of March 31, 2008
Amount114,457

Trade notes/accounts payable

28,037

27,245

Short-term bank loans

20,28035,000

Accrued income taxes

7,490

17,802

Reserve for employees bonuses

2,458

4,782

Reserve for directors bonuses

47

189

Deferred income taxes - current

197

197

Notes and accounts payable on equipment

5,320

5,646

Other current liabilities

27,024

23,593

II Long-term Liabilities

7,845

Deferred income taxes - noncurrent

7,593

43

36

Reserve for retirement allowance
Reserve for retirement benefits for directors
and corporate auditors

4,078

4,263

728

728

Other long-term liabilities

2,995

2,565

Total Liabilities(Net Assets)
I Shareholders' Equity

II

2.0%

122,05129.7%

301,435

75.3%

291,62471.0%

38,716

Capital surplus

59,03059,030Retained earnings

262,486

252,667

Treasury stock(58,798)(58,790)135

Foreign currency translation adjustments

III Minority Interests
Total Net Assets
Total Liabilities and Net Assets

3

1.8%

24.7%

38,716

Evaluation difference of investment
securities

27.9%

98,702

Capital stock

Evaluation Difference and Foreign
Currency Exchange Adjustments

%

0.0%

(2,843)(0.7%)

6,653

5,026

(6,518)100

0.0%(7,869)87

0.0%

301,67075.3%

288,86770.3%

400,373

100.0%

410,918

100.0%

(2) Consolidated Statements of Income(Millions of yen)Three months ended
June 30, 2008
AmountI Net Sales
II Cost of Sales
Gross Profit on Sales
Selling, General and
III Administrative Expenses

Operating Profit
IV Non-operating Income
Interest income

399

Dividend income

178

Royalty income

30

Exchange gain

2,206

Equity in profit of affiliated companies

19

Other non-operating income

224%
77,771100.0%

35,51645.7%

42,25554.3%

26,013

33.4%

16,241

20.9%

3,060

3.9%

449

0.6%

18,852

24.2%

V Non-operating Expenses
Interest expenses

97

Sales discount141

Loss on disposal of inventories

18

Other non-operating expenses

192

Ordinary Profit
VI Extraordinary Profit
Gain on sales of fixed assets

0Gain on sales of securities

80

81

0.1%

5

50.0%

18,927

24.3%

4,906

6.3%

5
14,0160.0%
18.0%

VII Extraordinary Losses
Loss on disposal of fixed assets

Income Before Taxes
Corporate, Inhabitant and Enterprise Taxes

5,208

Deferred Taxes (reduction)
Minority Interest Income (loss) ofconsolidated companies(302)

Net Income for the Period4(3) Consolidated Statements of Cash Flows(Millions of yen)Three months ended
June 30, 2008
AmountI

Cash Flows from Operating Activities
Income Before Taxes
Depreciation and amortization
Amortization of goodwill
Equity in profit of affiliated companies
Increase(decrease) in reserve for retirement allowance
Increase(decrease) in allowance for doubtful accounts
Increase(decrease) in reserve for directors bonuses
Interest and dividend income
Interest expenses
Exchange gain (loss)
Loss on disposal of fixed assets
Gain on sales of fixed assets
Gain on sales of securities
Decrease(increase) in trade receivables
Decrease(increase) in inventories
Increase(decrease) in trade payables
OthersSub-totalInterest and dividends received
Interest paid
Income taxes paid

Cash Flows from Operating Activities

18,9274,129512(19)(189)
26(142)(578)
97(230)
5(0)
(80)
177
(2,774)(115)(6,720)13,024714(151)(16,276)(2,689)II Cash Flows from Investing Activities
Payments for time deposits with maturities
exceeding 3 months
refund of cash in bank
Capital expenditure
Proceeds from sales of tangible fixed assets
Payments for acquisition of intangible fixed assets
Acquisition of investment in securities
Proceeds from sale of marketable securities
Expense relating to acquisition of newly
consolidated subsidiary

Cash Flows from Investing Activities(1,490)512(3,560)
1(305)
0580(3,286)(7,548)III Cash Flows from financing Activities
Increase(decrease) in short-term bank loan
Buyback of treasury stock
Dividends paid

(15,000)(7)(3,490)(18,498)

Cash Flows from Financing Activities
IV Effect of Exchange Rate Changes on Cash andCash Equivalents
V Change in Cash and Cash Equivalents
VI Cash and Cash Equivalents at Beginning of Period
VII Cash and Cash Equivalents at End of Period

51,064(27,671)
85,37757,706

5. Segment Information(1) Business Segments(Millions of yen)Three months ended
June 30, 2008
AmountOperating
incomeSales
General hospital products
Cardiac & Vascular products
Blood transfusion products
Consumer Home Health Care products
Corporate expenses
Total

37,20033,1086,232
1,230
77,771

8,275
9,801
1,067
42(2,945)
16,241(Note) Main products belonging to each product segment

Product segment

Main products

General hospital products
Disposable medical devices
and Medical electronics

Syringe, Needle, Solution Administration set, I.V.catheter, Blood collection tube,
Electronic medical equipment, etc.

Pharmaceuticals

I.V.solutions, Prefilled syringe, Nutritional products, etc.

CAPD products

Dialysis solution, etc.

Diabetes care products (Hospital)

Blood glucose monitor, etc.

Home parenteral nutrition and oxygen

Home infusion systems, Home oxygen systems, etc.

Cardiac & Vascular productsInterventional systems

PTCA catheters, Coronary stent, Guide wires, Angiographic catheters, Cerebral
aneurysm coils, etc.

Cardiovascular systems

Roller pump, Oxygenarators, Blood tubing set, etc.

Vascular grafts

Artificial vascular grafts

Blood transfusion products

Blood bags, Blood transfusion administration set, Medical electronic equipment forblood collection, etc.

Consumer Health Care Products

Digital Thermometers, Blood pressure monitor, etc.

(2) Geographic segments(Millions of yen)Three months ended
June 30, 2008
AmountOperatingincomeSales
JapanEurope
Americas
Asia and others
Corporate expenses
Total

39,924
15,987
13,943
7,916
77,771

14,015
2,440
837
1,916
(2,969)16,241(3) Sales results by regions(Millions of yen)Three months ended
June 30, 2008
Amount%Japan
39,912
51.3%
Europe15,987
20.6%
Americas13,943
17.9%
Asia and others
7,928
10.2%
Total
77,771100.0%(Note) Sales in 'Asia and others' includes direct sales from Japan.
6Reference information :Consolidated Financial Statements of the previous year
1. Consolidated Statements of Income(Millions of yen)Three months ended
June 30, 2007%

AmountNet sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income / expenses

75,469100.0%

33,96445.0%

41,50455.0%

24,51832.5%

16,986

22.5%

1,609

Ordinary income

24.6%

18,595Extraordinary income / expenses

1,040

Income before taxes

26.0%

19,636

Corporate, inhabitant and enterprise taxes

6,480

Minority interests

12

Net income for the period

17.4%

13,142

2. Consolidated Statements of Cash Flows(Millions of yen)Three months ended
June 30, 2007
Cash flows from operating activities

11,990Cash flows from investing activities(8,107)

Cash flows from financing activities(3,188)

Effect of exchange rate changes on cash and cash equivalents

637

Change in cash and cash equivalents

1,331

Cash and cash equivalents at beginning of period

43,049Cash and cash equivalents at end of period

44,38073. Segment Information(1) Sales results by product segments(Millions of yen)Three months ended
June 30, 2007
Amount%Disposable medical equipments

20,691

27.4%

Pharmaceuticals

10,175

13.5%

Blood transfusion systems

5,850

7.8%

General hospital products

36,716

48.7%

Catheter systems

19,10825.3%

Cardiovascular systems

9,601

12.7%

Vascular grafts

2,514

3.3%

Cardiac & vascular products

31,224

41.3%

CAPD systems

1,769

2.3%

Diabetes care products

3,454

4.6%

Other products

2,304

3.1%

Home health care products

7,528

10.0%

Total

75,469100.0%(Note) Main products belonging to each product segment
Product segment
Disposable medical equipment
Pharmaceuticals

Main products
Syringes, Needles, Solution Administration sets, I.V.catheters,
Blood collection tubes, Electronic medical devices, etc.
I.V.solution, Prefilled syringes, Nutritional products, etc.

Cardiovascular systems

Blood bags, Blood transfusion administration sets, medical
electronic devices for blood collection, etc.
PTCA dilation catheters, Coronary stents, Guide wires,
Angiographic catheters, Cerebral aneurysm coils, etc.
Roller pumps, Hollow fiber oxygenators, Blood circuits, etc.

Vascular grafts

Artificial vascular grafts

CAPD systems

Dialysis solution, etc.

Diabetes care products

Blood glucose monitors, etc.

Other productsHome oxygen systems, Home nutritional products, Digital
Thermometers, Electronic sphygmomanometers, etc.

Blood transfusion systems
Catheter systems(2) Sales results by region(Millions of yen)Three months ended
June 30, 2007
Amount%Japan

39,10851.8%

Europe14,271

18.9%

America

14,508

19.2%

Asia and Others

7,582

10.1%

Total

75,469100.0%8