Terumo : IFRS Financial Results for the First Half of the Fiscal Year Ending March 31, 2023

November 10, 2022

Consolidated Financial Results

for the Second Quarter Ended September 30, 2022

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:	[phone]

Scheduled date to file quarterly securities report:	November 14, 2022
Scheduled date to commence dividend payments:	December 5, 2022
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 six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)

(1) Consolidated operating results (cumulative)							(Percentages indicate year-on-year changes.)
				Revenue		Operating profit	Profit before tax		Profit for the	Profit attributable	Total
						comprehensive
						period	to owners of the
																				parent	income
	Six months ended		Millions of		%	Millions of	%	Millions of		%		Millions of	%	Millions of	%	Millions of		%
				yen				yen		yen						yen			yen		yen
	September 30,		403,316		17.0	55,977	(15.0)	54,624		(16.3)		40,321	(19.3)	40,321	(19.3)	186,667		221.0
	2022
	September 30,		344,637		21.7	65,857	57.5	65,282		60.6		49,988	57.4	49,988	57.0	58,146		209.0
	2021
				Basic earnings			Diluted earnings
				per share				per share
	Six months ended						Yen					Yen
	September 30,						53.37				53.35
	2022
	September 30,						66.11				66.07
	2021
													yen	September 2021: 74,137 million yen
	(Note) Adjusted	operating profit September	2022: 70,429 million
(2) Consolidated financial position
																	Equity attributable to		Ratio of equity
				Total assets		Total equity						attributable to owners of
										owners of the parent
																	the parent to total assets
	As of				Millions of yen			Millions of yen			Millions of yen			%
	September 30, 2022				1,658,931			1,171,105				1,171,105			70.6
	March 31, 2022				1,473,693			1,012,313				1,012,313			68.7

2. Cash dividends

		Annual dividends per share
	First quarter-end	Second quarter-end	Third quarter-end		Fiscal year-end	Total
	Yen	Yen	Yen		Yen	Yen
Fiscal year ended	－	16.00	－		18.00	34.00
March 31, 2022
Fiscal year ending	－	19.00
March 31, 2023
Fiscal year ending
March 31, 2023			－		19.00	38.00
(Forecast)

(Note)Revision from the dividend forecast, which is published in the most recent: Yes

The company revises second quarter-end and year-end dividends per share for the fiscal year ending March 2023 from 18yen to 19yen.

Please refer to the November 10, 2022 press release, "Terumo Revises Interim Dividend Distribution and Year-End Dividends Forecast for Fiscal Year Ending March 31, 2023."

3. Consolidated Forecast for the Fiscal Year Ending March, 2023 (From April 1, 2022 to March 31, 2023) (Percentages indicate year-on-yearchanges.)

				Adjusted operating			Profit for the year
	Revenue		Operating profit	attributable to owners	Earnings per share
		profit
							of the parent
Fiscal year ending	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen		%	Yen
March, 2023	775,000		10.2	151,000	12.3	132,000	13.8	100,000		12.6	133.88

(Note)Revision of forecast for the fiscal year ending March, 2023: None

The Company resolved to repurchase its own shares at the board of directors meeting held on May 12, 2022. Basic earnings per share is calculated by taking into consideration effects of the situation of acquisition of them.

• Assumed exchange rate for fiscal year ending March, 2023: USD1=JPY130, EUR1=JPY137

*Notes

(1) Changes in significant subsidiaries during the current quarterly consolidated cumulative period (changes in specified subsidiaries resulting in changes in the scope of consolidation): None

New － Company (Company Name) －, Excluded － Company (Company Name) －

1. Changes in accounting policies and changes in accounting estimates

1. Changes in accounting policies required by IFRS: None
2. Changes in accounting policies other than (i): None
3. Changes in accounting estimates: None

1. Number of shares outstanding (common stock)

(i) Number of outstanding shares at the end of	As of September 30,	759,521,040 shares As of March 31, 2022	759,521,040 shares
the period (including treasury shares)	2022
(ii) Treasury shares at the end of the period	As of September 30,	6,354,109 shares As of March 31, 2022	3,194,976 shares
2022
(iii) Average number of shares during the	Six months ended	755,432,665 shares Six months ended	756,100,350 shares
period (cumulative quarterly)	September 30, 2022	September 30, 2021

• Quarterly financial statements are not subject to quarterly reviews by certified accountants or audit firms.
• Explanation on appropriate use of financial results forecasts and other special notes
• 1. Forward-lookingstatements, 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 a promise or guarantee by Terumo that it will achieve these goals. In addition, actual results may differ significantly due to several factors. For the assumptions that are the premise of the earnings forecast and the precautions for using the earnings forecast, refer to [Attachment], page 5, "1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2023 (3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2023".
  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 Half of the Fiscal Year Ending March 31, 2023
 Table of contents of attached materials
1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2023 ...............................	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, 2023 .............	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 of
	Comprehensive 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) Segment Information ....................................................................................................................................	11
(iii) Assets Held for Sale....................................................................................................................................	14
(ⅳ) Impairment of Non-Financial Assets...........................................................................................................	14
(v) Subsequent Events .......................................................................................................................................	15

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[Terumo Corporation] Financial Results for the First Half of the Fiscal Year Ending March 31, 2023

1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2023

(1) Overview of Consolidated Business Results

In the first half of the current fiscal year (from April 1 to September 30, 2022), the Group's sales trended strongly in general amid the recovery in medical demand which had declined in the previous fiscal year due to the COVID-19 pandemic, as well as the positive impact by yen depreciation. Operating profit declined year on year due to the inflation on manufacturing cost.

Financial results for the first half are as follows:

			(Unit: Millions of yen)
	For the six	For the six		Growth
	months ended	months ended	Growth (%)	excluding impact
	September	September	of FX
	30, 2021	30, 2022		translations (%)
Revenue	344,637	403,316	17.0	5.1
Gross profit	186,244	206,992	11.1	2.0
Adjusted operating profit	74,137	70,429	(5.0)	(9.6)
Operating profit	65,857	55,977	(15.0)	(16.3)
Profit before tax	65,282	54,624	(16.3)	－
Profit for the period	49,988	40,321	(19.3)	－
Profit for the period
attributable to owners of the	49,988	40,321	(19.3)	－
parent

Revenue by geographic areas for the first half is as follows:

			(Unit: Millions of yen)
	For the six	For the six		Growth
Geographic areas	months ended	months ended	Growth (%)	excluding impact
September	September	of FX
	30, 2021	30, 2022		translations (%)
Japan	102,412	101,235	(1.1)	(1.1)
Europe	68,307	77,181	13.0	5.2
Americas	106,343	138,096	29.9	7.1
China	30,124	38,371	27.4	8.0
Asia and others	37,449	48,430	29.3	14.3
Overseas total	242,225	302,080	24.7	7.8
Total	344,637	403,316	17.0	5.1

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