Q3 2021 Terumo Corp Earnings Call Transcript
I am the CAFO, Muto. I will now explain the third quarter results for the fiscal year ending March 2021.
First, a summary of the overall results. Sales revenue of the Cardiac and Vascular company was greatly affected by COVID-19 in the first quarter, but saw a steady recovery in the second quarter and then third quarter. Impact on the General Hospital and Blood Cell Technologies companies remained minor due to continued high demand for some products serving COVID-19-related needs, resulting in a 5% year-on-year decrease for the group as a whole, and when excluding FX impact, a 3% decrease to get closer to the level of the previous fiscal year.
Adjusted operating profit continued to see negative impact from sales decline in the Cardiac and Vascular company while expenses naturally fell due to limitations on activities and our ongoing careful evaluation of each outlay to control expenditures. This resulted in 8% negative growth when excluding FX impact and 10% negative operating profit growth
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