Slide 1: Financial Results for the First Quarter of Fiscal Year Ending March 31, 2026 (FY2025)
Financial Results for the First Quarter of Fiscal Year Ending March 31, 2026 (FY2025) Jin Hagimoto Chief Financial Officer Terumo Corporation Aug 7, 2025
Slide 2: Forward-Looking Statements and Use of Document
Forward-Looking Statements and Use of Document Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performanc
Slide 3: Highlights
Highlights Revenue Achieved a record high for Q1 Continued strong sales with 6% growth excluding foreign exchange effects led by Americas Profit Record highs for a quarter in all areas of operating profit, adjusted operating profit, and profit for the period Continued growth exceeding sales growth t
Slide 4: P&L, FCF
P&L, FCF Revenue: Continued strong demand for TIS and Global Blood Solutions Operating profit: Increased gross profit due to higher sales and pricing measures Change 100M JPY FY24 Q1 FY25 Q1 Change excluding FX impact Revenue 2,582 2,600 1% 6% Gross Profit 1,376 1,455 6% 8% (%) (53.3%) (56.0%) SG&A
Slide 5: OP Variance Analysis: Growth due to strong sales and pricing measures
OP Variance Analysis: Growth due to strong sales and pricing measures (100M JPY) 42 15 591 G/P increment by sales increase: 64 1 TIS and GBS led the overall growth, -42 559 Gross R&D FX progressing as planned Margin/ SG&A 511 Price increase Gross margin/Price: G/P Increment by C&V pricing measures c
Slide 6: Revenue by Region: Americas strongly drive overall growth
Revenue by Region: Americas strongly drive overall growth FY25 Q1 FY25 Q1 Revenue (100M JPY) Comments YoY Change Regional ( ) FX Neutral breakdown Americas FY23 740 All Companies are continuing to see robust 5% demand. TIS, PS, and GBS leading each company FY24 959 (15%) FY25 1,005 At C&V, TIS and N
Slide 7: C&V: TIS led the way, profit made a significant growth
C&V : TIS led the way, profit made a significant growth (C&V: Cardiac & Vascular) (100M JPY) Q1 Q1 Comments YoY ( ) FX Neutral 1,567 1,578 TIS : Double-digit growth in all product areas in US +15 Terumo excluding foreign exchange effects, with volume 1,306 Interventional growth as well as pricing me
Slide 8: TMCS: Q1 revenue down, full-year revenue & profit growth on track
TMCS: Q1 revenue down, full-year revenue & profit growth on track (TMCS: Medical Care Solutions) (100M JPY) Q1 Q1 Comments YoY ( ) FX Neutral 518 504 HCS : Revenue temporarily declined due to business -11 437 Hospital Care transfer and supply issues for some products, Solutions but pricing measures
Slide 9: TBCT: Plasma innovation drives sales, profit grows as planned
TBCT : Plasma innovation drives sales, profit grows as planed (TBCT: Blood and Cell Technologies) (100M JPY) Q1 Q1 Comments YoY ( ) FX Neutral 516 GBS : Rika (source plasma collection system) +26 497 Global Blood increased significantly in addition to strong sales 409 Solutions of whole blood collec
Slide 10: FY25 Outlook
FY25 Outlook Tariff impact mitigated by strong fundamentals, FY25 guidance remains unchanged Tariff impact • Around 10 B JPY* (FY25 full-year AOP basis) *10% on US imports April-July, 15% on imports from Japan from August • Impact is primarily expected in the second half Fundamentals • Q1 results ex
Slide 11: Reference
Reference ©TERUMO CORPORATION 11
Slide 12: P&L (QoQ)
P&L (QoQ) (100M JPY) FY24 Q1 Q2 Q3 Q4 FY25 Q1 (Apr-Jun) (Jul-Sep) (Oct-Dec) (Jan-Mar) (Apr-Jun) Revenue 2,582 2,505 2,636 2,639 2,600 Gross Profit 1,376 (53.3%) 1,395 (55.7%) 1,451 (55.1%) 1,385 (52.5%) 1,455 (56.0%) SG&A Expenses 748 (29.0%) 732 (29.2%) 777 (29.5%) 818 (31.0%) 755 (29.1%) R&D Expen
Slide 13: SG&A (QoQ)
SG&A (QoQ) (100M JPY) FY24 Q1 Q2 Q3 Q4 FY25 Q1 (Apr-Jun) (Jul-Sep) (Oct-Dec) (Jan-Mar) (Apr-Jun) Salaries & Wages 398 384 406 430 406 Sales Promotion 52 47 54 60 55 Logistics Costs 51 59 56 57 57 Depreciation and 70 68 70 71 68 Amortization Others 178 175 190 200 169 SG&A Expenses Total 74 732 777 8
Slide 14: SG&A (YoY)
SG&A (YoY) (100M JPY) YoY% FY24 Q1 FY25 Q1 YoY% excluding FX impact Salaries & Wages 398 406 2% 8% Sales Promotion 52 55 6% 10% Logistics Costs 51 57 13% 19% Depreciation and 70 68 -2% 4% Amortization Others 178 169 -5% -0% SG&A Expenses Total 748 755 1% 6% (%) (29.0%) (29.1%) R&D Expenses 174 164 -
Slide 15: Adjusted Operating Profit: Adjustments
Adjusted Operating Profit: Adjustments (100M JPY) FY24 Q1 FY25 Q1 Adjusted Operating Profit 511 591 Adjustment 1. Amortization of -56 -51 acquired intangible assets Adjustment 2. Non-recurring profit or loss -9 19 Operating Profit 446 559 <General examples of adjustment items> • Acquisition related
Slide 16: CAPEX, Depreciation and Amortization, R&D Expenses
CAPEX, Depreciation and Amortization, R&D Expenses (100M JPY) FY25 FY22 FY23 FY24 FY25Q1 Guidance CAPEX 758 784 825 173 950 Depreciation 635 702 781 194 830 Amortization of acquired 188 200 210 50 200 intangible assets Others 447 502 571 144 630 CAPEX = Construction in progress record basis, lease d
Slide 17: Free Cash Flow
Free Cash Flow 212 152 (100M JPY) 189 553 Income taxes, etc. Depreciation and 97 CAPEX Amortization Working capital 326 173 Other Others operating CF 46 107 FY25Q1 YTD Operating CF FCF Profit before tax YoY +96 +2 +30 -161 +3 -31 -26 +14 -42 CAPEX are recorded on a construction in progress basis ©TE
Slide 18: Cash Flow
Cash Flow Operating CF Investing and financing CF +326 -502 (100M JPY) 212 152 553 286 Income Depreciation 173 taxes and Amortization Working 150 10 190 2,219 capital gains **CAPEX and losses 89 Profit Repayment Issuance of 2,043 of Dividends before tax CP and Others borrowings Short-term borrowings
Slide 19: Foreign Exchange Sensitivity
Foreign Exchange Sensitivity Annual impact of 1 JPY depreciation (Flow) (100M JPY) USD EUR CNY Revenue 28 12 40 +20% Adjusted Operating Profit (+8%) 3 6 23 1,349 Impact of 1 JPY depreciation (Stock) 1,198 2,049 USD EUR CNY 38% Adjusted Operating Profit (+13%) -3.0 -1.0 -2.5 ©TERUMO CORPORATION 19
Slide 20: ~“TERUMO
~“TERUMO