Q3 2023 Terumo Corp Earnings Call Transcript
Hello. I am the CFO, Muto. I will give an overview of our earnings results for the third quarter of the fiscal year ending March 31, 2023. First, the highlights of this earnings announcement. Revenue continued to exceed JPY 200 billion as in Q2 for our highest ever result. When excluding FX impact, all companies and regions saw increased revenue, including China, where there were COVID-19 concerns. Profit increased over 30% year-on-year and expanded even further compared to Q2. We proactively raised prices at an expanded number of businesses and regions. We also continued activities from Q2 to rationalize our portfolio, completing the sale of the Nutrition business that was part of Hospital Care Solutions. We recorded a profit of JPY 3.9 billion from that sale.
In light of factors including the results up to Q3, we will revise our earnings guidance. We will revise our revenue guidance upward, primarily to reflect FX impact. We will revise our profit guidance downward to reflect unfavorable macro
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