SINGAPORE--Terumo said it expects to have its first record operating profit in 7 years when it reports one of $582 million at the end of the current fiscal year next month. The Japan-based devicemaker cited exports of its catheters as primarily responsible.
One of the drivers of Terumo's exports was its higher-priced catheters used in cardiovascular surgery, which experienced increased demand in Europe and the United States. Healthcare providers reportedly have been switching from other treatments to ease the treatment impact on patients. The catheters had already been the preferred treatment in Japan.
At the start of the current fiscal year, Terumo had expected a 2% decline in profits, but instead saw a 4% increase, according to the Nikkei newspaper. The company credited an increase in foreign sales, expected to account for 62% of its FY 2015 profits.
It said hospital equipment such as syringes was another major driver of increased profits as well as Terumo shifting some of its production abroad.
- read the Nikkei story