Sysmex : Summary of Consolidated Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2023 – Marketscreener.com


Summary of Consolidated Financial Results [ IFRS ]
for the First Three Months of the Fiscal Year Ending March 31, 2023
August 4, 2022
Listed company name
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Scheduled date for filing of quarterly report Scheduled date for dividend payment Preparation of supplementary material for quarterly earnings
Holding of earnings announcement
(Unit: Millions of Yen)
1. Results for the First Three Months of the Fiscal Year Ending March 31, 2023
(1) Operating results
(% changes as compared with the corresponding period of the previous fiscal year)
Net Sales
Operating profit
Profit before tax
Profit
Three months
86,029
8.4%
11,053
(25.3)%
12,847
(10.1)%
7,993
(18.1)%
ended Jun. 30, 2022
Three months
79,363
31.2%
14,796
112.7%
14,296
120.6%
9,756
119.6%
ended Jun. 30, 2021
Profit
Total
Basic earnings
Diluted earnings
attributable to
comprehensive
owners of the
per share (Yen)
per share (Yen)
income
parent
Three months ended Jun. 30, 2022
8,030
(18.2)%
21,835
93.0%
38.38
38.37
Three months ended Jun. 30, 2021
9,815
118.7%
128.1%
46.96
46.87
11,313
Note: Changes in accounting policy have been retroactively applied to the figures for the first three months of the fiscal year ended March 31, 2022. Figures shown here are after this retroactive application.
(2) Financial condition
Equity attributable
Equity attributable
Total assets
Total equity
to owners of the
to owners of the
parent
parent to total assets
As of Jun. 30, 2022
487,656
362,788
362,075
74.2
As of Mar. 31, 2022
483,707
349,053
348,303
72.0
2. Dividend
Dividend per share
First quarter
Second quarter
Third quarter
Year-end
Annual
(Yen)
(Yen)
(Yen)
(Yen)
(Yen)
Year ended Mar. 31, 2022

37.00

39.00
76.00
Year ending Mar. 31, 2023

Year ending Mar. 31, 2023
40.00
40.00
80.00
(Forecast)

Note: Revision of dividends forecast for this period: No
3. Financial Forecast for the Year Ending March 31, 2023
(% changes as compared with the corresponding period of the previous fiscal year)
Net Sales
Operating profit
Profit before tax
Profit attributable to
Basic earnings
owners of the parent
per share (Yen)
Six months
ending Sep.
193,000
14.4%
38,000
14.3%
36,300
14.8%
25,000
14.0%
119.49
30, 2022
Year ending
410,000
12.7%
76,000
12.7%
72,500
12.7%
50,000
13.4%
238.99
Mar. 31, 2023
Notes:
4. Other Information
447,255 shares as of Jun. 30, 2022; 447,255 shares as of Mar. 31, 2022
Note: Quarterly summaries of financial results are excluded from quarterly reviews.
Content of Supplementary Materials
1. Qualitative information on quarterly financial results
2
1)
Operating performance analysis
2
2)
Financial conditions analysis
4
3)
Consolidated financial forecast
5
2. Condensed quarterly consolidated financial statements and notes
6
1)
Condensed quarterly consolidated statement of financial position
6
2)
Condensed quarterly consolidated statement of income
8
3)
Condensed quarterly consolidated statement of other comprehensive income
9
4)
Condensed quarterly consolidated statement of changes in equity
10
5)
Condensed quarterly consolidated statement of cash flows
12
6)
Notes to the condensed quarterly consolidated financial statements
13
1. Notes related to the going concern assumption
13
2. Segment information
13
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1. Qualitative information on quarterly financial results
Future-related information contained in the text below is based on the judgement as of the end of the fiscal period under review.
In the past, the Group booked configuration and customization costs in cloud computing contracts as other non-current assets. However, in the fiscal year ended March 31, 2022 we began recognizing these costs as expenses when the services are received, in accordance with a decision announced in April 2021 by the IFRS Interpretation Guidelines Committee. These changes in accounting policy have been applied retroactively, and we are comparing and analyzing the figures for the first quarter of the previous fiscal year to reflect this retroactive treatment.
In the first quarter of the fiscal year ending March 31, 2023, the Japanese economy was characterized by a gradual easing of the severe situation brought about by COVID-19. Economic activity resumed, and corporate earnings, capital investment and personal consumption showed some signs of recovery. Even so, the outlook remained clouded by such factors as high resource prices and rising import costs, as yen depreciation continued. Overseas, the overall trend is toward recovery, although the situation varies by country and region. There are concerns about an economic slowdown due to soaring energy and raw material prices stemming from increasing geopolitical risks, as well as a shift toward tighter U.S. monetary policy.
On the healthcare front, aging populations in developed countries are driving demand for more efficient healthcare. Economic growth in emerging markets is causing healthcare demand to increase and prompting higher levels of healthcare quality and service enhancements. At the same time, rapid advances in the application of artificial intelligence, information and communications technology, and other leading-edge technologies to the healthcare sector are expected to continue providing opportunities for growth. The global COVID-19 pandemic has also prompted considerations about healthcare systems and the potential for major changes in the healthcare environment itself. We anticipate further opportunities for growth, such as improving access to healthcare and a focus on self-medication.
Under these circumstances, in an effort to expand its product portfolio in the hematology field Sysmex launched sample transportation system modules that can be connected to the XR-Series Automated Hematology Analyzer, its next-generation flagship model. The modules are equipped with the world’s first automated measurement function for quality control material*1. They also enable sample sorting, sample archiving, and automated transportation of cleaning materials, will facilitate greater automation and efficiency in clinical testing operations. We will contribute toward the optimization of laboratory operations according to regional characteristics and facilities’ needs. In addition, we will continue advancing our product portfolio in the hematology field to this end.
Sysmex acquired additional shares in Astrego Diagnostics AB, changing the company from an equity-method affiliate to a wholly owned subsidiary. Through this acquisition, Sysmex aims to accelerate the clinical application of a rapid antimicrobial susceptibility test*2 that Astrego is developing for urinary tract infections*3. Going forward, the companies aim to address medical issues through initiatives to counter antimicrobial resistance*4.
As an initiative toward the realization of personalized medicine, Sysmex submitted an application for manufacturing and marketing approval to the Pharmaceuticals and Medical Devices Agency (PMDA) for a genetic panel testing system for inherited retinal dystrophy (IRD)*5. The system uses a next-generation sequencer*6 to detect and analyze information on multiple genetic mutations in target genes taken from the blood of patients with IRD. This testing system is designed ultimately to assist in the planning of treatment and low vision care*7 tailored to the causative genes as well as molecular evidence-based genetic counseling. As a result, we hope to contribute significantly to the quality of life of patients by clarifying the risk of developing IRD and prediction of symptom progression.
As the global general distributor, Sysmex continued to market hinotori™ to medical institutions in Japan. (The hinotori Surgical Robot System is the first made-in-Japanrobotic-assisted surgery system.) Based on our launch in the Japanese market, we are putting together regulatory affairs and sales systems in preparation to enter overseas markets.
*1 According to Sysmex’s research
*2 Antimicrobial susceptibility test
A test to determine the efficacy of various antimicrobial drugs against pathogenic bacteria detected in a sample.
*3 Urinary tract infections:
The urinary tract runs between the kidneys and the urethral opening. Inflammations due to
- 2 -
the incursion of bacteria into the urinary tract are known as urinary tract infections. Such infections can lead to bladder inflammation and pyelonephritis (inflammation of the kidneys).
*4 Antimicrobial resistance:
This phenomenon occurs when living organisms develop a resistance to a drug, whose efficacy is reduced or nullified as a result. Bacteria that have developed microbial resistance are known as antimicrobial-resistant bacteria.
*5 Inherited retinal dystrophy:
A hereditary progressive disease presumably caused by a gene mutation. Several diseases that present similar symptoms are collectively referred to as IRD. Its main symptoms include night blindness (difficulty seeing in dim light), tunnel vision (a narrowing field of vision), and progressive loss of vision, which can lead to a complete loss of vision in severe cases. It is estimated that one out of every 4,000 to 8,000 people develops an IRD. The most common IRD subtype is Retinitis Pigmentosa (a designated intractable disease, Notification No: 90).
*6 Next-generation sequencer:
An analyzer for reading large volumes of DNA base sequences.
*7 Low vision care:
To those who experience any difficulty in their daily lives due to vision problems, a wide variety of support is offered, including the provision of advice or medical devices to improve quality of life, provision of various counseling and information services on careers and employment, and use of welfare programs.
Net sales by destination
Three months ended
Three months ended
YoY
June 30, 2021
June 30, 2022
(Previous
Amount
Percentage of
Amount
Percentage of
period = 100)
(Millions of yen)
total (%)
(Millions of yen)
total (%)
Japan
12,226
15.4
12,963
15.1
106.0
Americas
18,160
22.9
23,092
26.8
127.2
EMEA
25,244
31.8
27,254
31.7
108.0
China
17,363
21.9
14,543
16.9
83.8
Asia Pacific
6,368
8.0
8,174
9.5
128.4
Overseas subtotal
67,136
84.6
73,065
84.9
108.8
Total
79,363
100.0
86,029
100.0
108.4
In Japan, sales rose for hemostasis and immunochemistry reagents, mainly in relation to COVID-
19 testing. Sales of medical robotics instruments also grew. As a result, sales in Japan rose 6.0% year on year, to ¥12,963 million.
Overseas, testing demand recovered compared with the first three months of the previous fiscal year, when demand was affected by COVID-19. In the hematology field, sales of reagents increased, as did sales of reagents in the urinalysis and hemostasis fields. These factors, plus ongoing yen depreciation, caused overseas Group sales to rise 8.8% year on year, to ¥73,065 million. The overseas sales ratio rose 0.3 percentage point, to 84.9%.
Selling, general and administrative (SG&A) expenses expanded 15.6%, to ¥25,157 million, owing mainly to the resumption of sales and service activities that had been constrained across all regions in the previous period due to the pandemic. In addition, R&D expenses increased 25.9% year on year, to ¥6,916 million, owing to active investment in development.
As a result, during the first three months of the fiscal year ending March 31, 2023, the Group recorded consolidated net sales of ¥86,029 million, up 8.4% year on year. Operating profit fell 25.3%, to ¥11,053 million; profit before tax declined 10.1%, to ¥12,847 million, and profit attributable to owners of the parent contracted by 18.2%, to ¥8,030 million.
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Sysmex Corporation published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 06:06:04 UTC.

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