Q1 2022 Terumo Corp Earnings Call Transcript
I am the CAFO, Muto. I will now explain the first quarter results for the fiscal year ending March 2022.
First, the highlights from the quarter. Sales revenue was our highest ever for a quarter. In particular, a notable recovery of demand appeared in the Cardiac and Vascular Company, which had been greatly impacted by COVID-19. In FX, the dollar and euro both had a positive effect for Terumo. Adjusted operating profit was also the highest ever for a quarter. Along with the recovery in sales, improvement in product mix also pushed profitability upward. Negative impacts, including production adjustment and national tenders in China, had their expected effects, but expenses rose only gradually due to COVID-19. Taking into account these first quarter results, we are revising upward our guidance for this fiscal year. I will explain that in detail later in this presentation.
Next slide, please. Here are the P&L results for the first quarter. Sales revenue exceeded JPY 170 billion, and adjusted
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