Terumo Corporation (TSE: 4543) today announced shipping delays for products from its Ashitaka Factory in Shizuoka, Japan. This factory produces certain cardiovascular products. No other Terumo factories are affected by this issue.
While Terumo was pursuing enhancements of its manufacturing capabilities at the Ashitaka Factory, the company discovered that there were challenges in the procedure that optimizes the sterilization process. Shipments of certain products from this factory have been placed on hold in late May, based on its internal rules.
Terumo is gradually resuming shipments as it confirms the procedure. The company is aiming to resume full shipping by mid-August.
Terumo is now assessing the financial impact and will disclose findings as they are confirmed. The company plans to provide updates on the progress of this matter at the 1st quarter financial results announcement on August 8th.
Based on the company's corporate mission, "Contributing to Society through Healthcare," Terumo is making every effort to minimize disruption of product supply.
Tokyo-based Terumo Corporation is one of the world's leading medical device manufacturers, with over $5 billion in sales and operations in more than 160 nations. Founded in 1921, the company develops, manufactures and distributes world-class medical devices, including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine; the company also manufactures a broad array of syringe and hypodermic needle products for hospital and physician-office use. Terumo contributes to society by providing valued products and services to the health care market, and by responding to the needs of health care providers and the people they serve. Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange (No. 4543, Reuters symbol <4543.T>, or Bloomberg 4543: JP) and is a component of the Nikkei 225, Japan's leading stock index.
(Notice) Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts on projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The market share information in this press release is partly derived from our own independent research.
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