Q3 2020 Terumo Corp Earnings Call Transcript
I am the CFO, Muto. I will now explain the third quarter results for the fiscal year ending March 2020. First, the overall results. As you can see in the title, our year-to-date sales revenue and adjusted operating profit for the third quarter were our best ever results. Continuing from the first half, sales revenue grew positively for all 3 companies. Among these, the TIS and Neurovascular businesses of the Cardiac and Vascular Company achieved double-digit growth, driving the Terumo Group as a whole to 6% growth.
Thanks to maintaining strong sales across the group, adjusted operating profit grew in double digits when excluding FX impact, and operating profit grew in double digits even when including FX impact. Our profit variance analysis is a comparison to the previous fiscal year when we were seeing a strong recovery from the shipping delay. Therefore, although the profit growth is not as big as it was in the first half, we feel it was a strong result. Profit before taxes grew 14% year-on-year due
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