Q3 2022 Terumo Corp Earnings Call Transcript
I am the CFO, Muto. I will now explain the third quarter results for the fiscal year ending March 2022. First, the highlights from the quarter.
Q3 stand-alone revenue grew 8% from the previous year. Year-to-date revenue also grew 17%. The Cardiac and Vascular Company entered a COVID-19 recovery pattern, growing 12% from the previous year, with strong demand. Blood and Cell Technologies Company grew the next most.
Adjusted operating profits slowed slightly in the third quarter amid continued production adjustment to normalize inventory down from COVID safety stock levels as well as impact from higher freight and raw materials costs caused by global supply chain disruption.
Year-to-date profit grew 21% from the previous year. In light of these third quarter results, we will revise the annual guidance for revenue only upward by JPY 12 billion. Although we anticipate a temporary Q4 decrease in health care demand due to COVID omicron variant's impact, we decided to account for Q3
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