Top Management Message
In the first half of the fiscal year ending March 2017, sales and profits were negatively affected by the Japan reimbursement price revision along with new pricing for blood center products in the United States and yen appreciation; however, sales were very positive for coronary intervention devices and other Interventional Systems (TIS) business products, enabling our highest-ever operating income despite less year-over-year sales.
In December 2016 the Terumo Group will announce its five-year mid- to long-term growth strategy, which will begin with the fiscal year ending March 2018. Building on our enhanced global business-led management and global headquarters functions, and strengthened corporate governance system, we will continue to make progress in our businesses to achieve new growth. Coupled with the new growth strategy, we will adopt the International Financial Reporting System (IFRS) to consolidated financial statements starting with the fiscal year ending March 2018. In addition to improving the international comparability of financial information of the Terumo Group in the capital markets, we will continue going forward to enhance the accuracy of our management controls and further strengthen the governance across the Group through the unified accounting rules.
As our industry is undergoing a global consolidation and the need for medical cost efficiency is increasing, the medical device market environment will experience vast changes. Our Terumo Group will continue to strive toward its long-term goal of being a company with a global presence, through sustainable, profitable, and high-quality growth.