Consolidated Financial Results for the Second Quarter Ended September 30, 2021〔IFRS〕

November 4, 2021

Consolidated Financial Results

for the Second Quarter Ended September 30, 2021

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 8, 2021
Scheduled date to commence dividend payments:	December 3, 2021
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, 2021 (from April 1, 2021 to September 30, 2021)

(1) Consolidated operating results (cumulative)						(Percentages indicate year-on-year changes.)
																	Profit for the	Profit attributable	Total
				Revenue		Operating profit	Profit before tax		comprehensive
						period	to owners of
																	income
																				parent
	Six months ended		Millions of		%	Millions of	%	Millions of		%	Millions of	%	Millions of	%	Millions of		%
			yen			yen	yen			yen		yen	yen
	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
	September 30,		283,296		(7.8)	41,824	(29.3)	40,659		(30.0)		31,759	(30.4)	31,842	(30.3)	18,815		(7.0)
	2020
				Basic earnings			Diluted earnings
				per share				per share
	Six months ended						Yen					Yen
	September 30,						66.11				66.07
	2021
	September 30,						42.21				42.08
	2020
Notes : Adjusted operating profit September 2021: 74,137 million yen	September 2020: 51,261 million yen
(2) Consolidated financial position
																	Equity attributable to		Ratio of equity
				Total assets		Total equity						attributable to owners of
										owners of parent
																	parent to total assets
	As of				Millions of yen			Millions of yen				Millions of yen			%
	September 30, 2021				1,368,977			903,957				903,957			66.0
	March 31, 2021				1,351,192			856,662				856,662			63.4

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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	－	14.00	－		15.00	29.00
March 31, 2021
Fiscal year ending	－	16.00
March 31, 2022
Fiscal year ending
March 31, 2022			－		16.00	32.00
(Forecast)

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

The company revises second quarter and year-end dividends per share for the fiscal year ended March 2022 from 15yen to 16yen.

Please refer to the November 4th, 2021 press release, "Terumo Revises Interim Dividend Distribution and Year-End Dividends Forecast for Fiscal Year Ending March 31, 2022."

3. Consolidated Forecast for the Fiscal Year Ending March, 2022 (From April 1, 2021 to March 31, 2022)

(Percentages indicate year-on-year changes.)

				Adjusted operating			Profit for the year
	Revenue		Operating profit	attributable to owners	Basic earnings per
		profit
							of parent		share
Fiscal Year ending	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen		%	Yen
March, 2022	685,000		11.6	137,000	18.2	120,000	22.0	92,000		19.1	121.66

Notes: 1) Revision of forecast for fiscal year ending March, 2022 : None

1. Basic earnings per share is calculated by taking into consideration effects of the conversion of convertible bonds in the six months.

• Assumed exchange rate for fiscal year ending March, 2022: USD1=JPY108, EUR1=JPY129

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[Terumo Corporation] Financial Results for the First Half of the Fiscal Year Ending March 31, 2022

*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 outstanding shares (common stock)

1. Number of outstanding shares at the end of the period (including treasury shares)
2. Treasury shares at the end of the period
3. Average number of shares during the period (cumulative quarterly)

As of September 30,	759,521,040 shares	As of March 31, 2021	759,521,040 shares
2021
As of September 30,	3,251,382 shares	As of March 31, 2021	3,508,047 shares
2021
Six months ended	756,100,350 shares	Six months ended	754,465,111 shares
September 30, 2021		September 30, 2020

*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 8, "1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2022 (3) Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2022".
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.

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[Terumo Corporation] Financial Results for the First Half of the Fiscal Year Ending March 31, 2022
 Table of contents of attached materials
1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2022 ................................	5
(1)	Overview of Consolidated Business Results......................................................................................................	5
(2)	Overview of Consolidated Statement of Financial Position ..............................................................................	8
(3)	Forecasts, including the Consolidated Financial Results for the Fiscal Year Ending March 31, 2022 ..............	8
2. Condensed Consolidated Financial Statements ......................................................................................................	9
(1)	Condensed Consolidated Statement of Financial Position.................................................................................	9
(2)	Condensed Consolidated Statement of Profit or Loss and Condensed Consolidated Statement of
	Comprehensive Income ...............................................................................................................................	11
(3)	Condensed Consolidated Statements of Changes in Equity.............................................................................	13
(4)	Notes Pertaining to Condensed Consolidated Financial Statements ................................................................	13
(i) Going Concern Assumption .........................................................................................................................	13
(ii) Segment information ..................................................................................................................................	14

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[Terumo Corporation] Financial Results for the First Half of the Fiscal Year Ending March 31, 2022

1. Overview of Financial Results for the First Half of the Fiscal Year Ending March 31, 2022

(1) Overview of Consolidated Business Results

In the first half of the current fiscal year (from April 1, 2021 to September 30, 2021), the healthcare market experienced a recovery in medical demand especially in North America and Europe with the spread of the COVID-19 vaccination. There was increase in exams, diagnostics, hospitalizations, and elective procedures which had been postponed across various clinical departments as the impacts of the COVID-19 pandemic begun in the previous fiscal year largely eased. The Group's sales trended strongly owing to this recovery in its principal markets.

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 30,	September 30,	of FX
	2020	2021		translations (%)
Revenue	283,296	344,637	21.7	17.1
Gross profit	150,463	186,244	23.8	18.3
Adjusted operating profit	51,261	74,137	44.6	35.9
Operating profit	41,824	65,857	57.5	47.1
Profit before tax	40,659	65,282	60.6	-
Profit for the period	31,759	49,988	57.4	-
Profit for the period
attributable to owners of	31,842	49,988	57.0	-
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 30,	September 30,	of FX
	2020	2021		translations (%)
Japan	93,508	102,412	9.5	9.5
Europe	55,525	68,307	23.0	14.0
Americas	82,481	106,343	28.9	25.0
Asia and others	51,780	67,574	30.5	21.7
Overseas total	189,788	242,225	27.6	20.9
Total	283,296	344,637	21.7	17.1

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