Terumo Capital Management Pte. Ltd., the medical-device group's Singapore-based treasury and investment arm, is being wound down. Terumo Corporation told the Kanto Local Finance Bureau on August 21, 2026 that it had cut the subsidiary's share count from 1,122,000,000 shares to a single share, the last step before full liquidation once local Singapore procedures are complete.
The unit, set up in August 2016 at 300 Beach Road in Singapore, held $1.122bn in capital and ran asset and investment management for the Terumo group. Terumo held the entire stake indirectly before the reduction; once liquidation is complete, both the stake and the subsidiary itself cease to exist.
The subsidiary's own results show a shrinking balance sheet. Net assets fell from $1.247bn in the year to March 2024 to $1.124bn in the year to March 2026, net income dropped from $57.6mn to $46.3mn over the same stretch, and the per-share dividend was cut to $0.04 from $0.16 a year earlier.
| Metric | Year to March 2024 | Year to March 2025 | Year to March 2026 |
|---|---|---|---|
| Net assets | $1.247bn | $1.126bn | $1.124bn |
| Total assets | $1.255bn | $1.133bn | $1.130bn |
| Net income | $57.6mn | $59.6mn | $46.3mn |
| Dividend per share | - | $0.16 | $0.04 |
Terumo says the move reflects a change in how the group manages its assets and will have no effect on its consolidated results.
The disclosure carries an unusual admission. Filings on a specified subsidiary's liquidation are supposed to be submitted promptly after the company decides to proceed, under Article 24-5(4) of the Financial Instruments and Exchange Act. Terumo's own report states that this one "remained unfiled until today," filed only alongside the capital reduction itself. The report does not say when the original liquidation decision was made, so the length of the delay is not disclosed, and no reason is given.
The same-day paperwork also triggered a routine follow-on filing: an amended shelf registration statement that folds the extraordinary report in as a reference document for Terumo's ¥200bn corporate-bond program, which still has ¥160bn of headroom through March 2028.