Full Year 2021 Terumo Corp Earnings Call Transcript
I am the CFO, Muto. I will now explain the results for the fiscal year ended March 2021. First, here is a summary of highlights of the results. Sales revenue for the year saw steady recovery, thanks to the return of demand despite remaining effects of COVID-19 in the second half on the Cardiac and Vascular Company. In the General Hospital and Blood and Cell Technologies companies, products related to infection prevention and COVID-19 treatment contributed to increased sales revenue and to stability for the group as a whole. Although some impact remained, the most recent stand-alone fourth quarter results showed our highest ever Q4 sales revenue.
In adjusted operating profit, there was some negative gross profit impact from volume-based procurement in China and production adjustment with TIS products and some acceleration of expenditures due to easing of restrictions on movement. However, recovery of sales revenue enabled restoration of profit to just a single-digit year-on-year decrease. Due to this
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