New Risk • Jun 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (7.1% net profit margin). Announcement • Jun 06
Sysmex Corporation to Report Q1, 2027 Results on Aug 07, 2026 Sysmex Corporation announced that they will report Q1, 2027 results on Aug 07, 2026 Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €8.02, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 17x in the Medical Equipment industry in Germany. Total loss to shareholders of 61% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.89 per share. Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥56.89 (vs JP¥86.07 in FY 2025) Full year 2026 results: EPS: JP¥56.89 (down from JP¥86.07 in FY 2025). Revenue: JP¥500.0b (down 1.7% from FY 2025). Net income: JP¥35.5b (down 34% from FY 2025). Profit margin: 7.1% (down from 11% in FY 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • May 15
Sysmex Corporation, Annual General Meeting, Jun 26, 2026 Sysmex Corporation, Annual General Meeting, Jun 26, 2026. Announcement • Apr 02
Sysmex Corporation to Report Fiscal Year 2026 Results on May 14, 2026 Sysmex Corporation announced that they will report fiscal year 2026 results at 3:30 PM, Tokyo Standard Time on May 14, 2026 Announcement • Mar 26
Denka Company Limited (TSE:4061) completed the acquisition of 77.65% stake in KAINOS Laboratories, Inc. (TSE:4556) from a group of shareholders. Denka Company Limited (TSE:4061) proposed to acquire 77.65% stake in KAINOS Laboratories, Inc. (TSE:4556) from a group of shareholders for ¥7.9 billion on February 6, 2026. A cash consideration of ¥7.89 billion valued at ¥2285 per share will be paid by Denka Company Limited. As part of consideration, ¥7.89 billion is paid towards common equity of KAINOS Laboratories, Inc. Denka Company Limited intends to launch a Squeeze-Out Procedures, if it acquires the minimum tender shares (1,990,000 shares) and fails to acquire all of the KAINOS Laboratories, Inc's Shares (excluding the Shares Agreed Not to Be Tendered and treasury shares).
The transaction is subject to minimum tender. The expected completion of the transaction is March 25, 2026.
Sumitomo Mitsui Banking Corporation acted as financial advisor for Denka Company Limited. AGS Consulting Co., Ltd. acted as financial advisor for KAINOS Laboratories, Inc. Nagashima Ohno & Tsunematsu acted as legal advisor for KAINOS Laboratories, Inc. TMI Associates acted as legal advisor for KAINOS Laboratories, Inc. Mizuho Securities Co., Ltd. acted as financial advisor for KAINOS Laboratories, Inc.
Denka Company Limited (TSE:4061) completed the acquisition of 77.65% stake in KAINOS Laboratories, Inc. (TSE:4556) from a group of shareholders on March 25, 2026. Upon closing of the offer period, 3,223,919 shares were tendered. Since it is more than the minimum number of shares to be purchased (1,990,000 shares), Denka Company Limited will purchase all of the Tendered Share Certificates and intends to implement a series of procedures for the purpose of making the Tender Offeror the sole shareholder of KAINOS Laboratories, Inc. As of today, the KAINOS Laboratories, Inc's Shares are listed on the Standard Market of the Tokyo Stock Exchange. If the procedures are implemented, the KAINOS Laboratories, Inc's Shares will be delisted pursuant to the prescribed procedures, in accordance with the criteria for delisting of Tokyo Stock Exchange. KAINOS Laboratories, Inc's Shares, after being delisted, will no longer be traded on the Standard Market of the Tokyo Stock Exchange. Announcement • Mar 05
Sysmex Corporation (TSE:6869) announces an Equity Buyback for 30,000,000 shares, representing 4.81% for ¥30,000 million. Sysmex Corporation (TSE:6869) announces a share repurchase program. Under the program, the company will repurchase up to 30,000,000 shares, representing 4.81% of its issued share capital, for ¥30,000 million. The program will be valid till September 18, 2026. The purpose of the program is to improve capital efficiency and enhance shareholder returns as well as active business investment for our future growth. The purchased shares will be cancelled. As of December 31, 2025, the company had 623,180,031 outstanding shares (excluding treasury stock) and 6,300,045 treasury shares. Announcement • Feb 13
Sysmex Corporation Revises Consolidated Earnings Guidance for the Year Ending March 31, 2026 Sysmex Corporation revised consolidated earnings guidance for the year ending March 31, 2026. For the year period, the company expects net sales of JPY 500,000 million compared to previous guidance of JPY 510,000 million, operating profit of JPY 62,000 million compared to previous guidance of JPY 76,000 million and profit attributable to owners of the parent of JPY 41,000 million or JPY 65.77 per basic share compared to previous guidance of JPY 45,000 million or JPY 72.19 per basic share. Announcement • Feb 12
Sysmex Corporation Announces Executive and Board Changes, Effective April 1, 2026 Sysmex Corporation announced that it has resolved, at a meeting of the Board of Directors held on February 12, 2026, to change the representative directors as stated below. Reasons for Change. To further strengthen management structure in order to enhance corporate value. Iwane Matsui has been newly appointed as the President (Representative Director), while previously serving as Member of the Managing Board and Senior Executive Officer, Senior Managing Director. Kaoru Asano appointed as the Member of the Managing Board, from currently holding the title of President (Representative Director). Effective Date of Transfer: April 1, 2026. Kaoru Asano is scheduled to resign from the Member of the Managing Board at the Ordinary General
Meeting of Shareholders to be held in June 2026 and subsequently serve as Senior Executive Advisor. There are no changes to Hisashi Ietsugu's current position as Chairperson and Group CEO. Iwane Matsui was born on January 1, 1961, and graduated from Kobe University with a Bachelor of Faculty of Law in March 1985. He joined TOA Medical Electronics Co. Ltd. (presently Sysmex Corporation) in April 1985. His career progressed through various roles, including serving as President of Sysmex Europe GmbH (presently Sysmex Europe SE) from 2001 to 2005, and later as Executive Vice Chairman & CEO of Sysmex Europe GmbH from 2005 to 2007. He held the position of Executive Vice President of the Customer Support Division from 2007 to 2009, followed by Executive Vice President of the IVD Business Strategy Division from 2009 to 2011. From 2011 to 2013, he served as Executive Officer and Executive Vice President of Corporate Business Planning, and from 2013 to 2015, he was an Executive Officer and Executive Vice President of International Business Management. He then became a Senior Executive Officer from 2017 to 2019, and a Managing Director in 2019. He was appointed as a Member of the Managing Board and Senior Executive Officer in June 2019 and has held the same position since April 2023, also serving as a Senior Managing Director. Announcement • Feb 09
Denka Company Limited (TSE:4061) proposed to acquire 77.65% stake in KAINOS Laboratories, Inc. (TSE:4556) from a group of shareholders for ¥7.9 billion. Denka Company Limited (TSE:4061) proposed to acquire 77.65% stake in KAINOS Laboratories, Inc. (TSE:4556) from a group of shareholders for ¥7.9 billion on February 6, 2026. A cash consideration of ¥7.89 billion valued at ¥2285 per share will be paid by Denka Company Limited. As part of consideration, ¥7.89 billion is paid towards common equity of KAINOS Laboratories, Inc.
The transaction is subject to minimum tender. The expected completion of the transaction is March 25, 2026.
Sumitomo Mitsui Banking Corporation acted as financial advisor for Denka Company Limited. AGS Consulting Co., Ltd. acted as financial advisor for KAINOS Laboratories, Inc. Nagashima Ohno & Tsunematsu acted as legal advisor for KAINOS Laboratories, Inc. TMI Associates acted as legal advisor for KAINOS Laboratories, Inc. Mizuho Securities Co., Ltd. acted as financial advisor for KAINOS Laboratories, Inc. Announcement • Dec 05
Sysmex Corporation to Report Q3, 2026 Results on Feb 12, 2026 Sysmex Corporation announced that they will report Q3, 2026 results on Feb 12, 2026 Announcement • Sep 04
Sysmex Corporation to Report Q2, 2026 Results on Nov 05, 2025 Sysmex Corporation announced that they will report Q2, 2026 results on Nov 05, 2025 Announcement • Jun 07
Sysmex Corporation to Report Q1, 2026 Results on Aug 06, 2025 Sysmex Corporation announced that they will report Q1, 2026 results on Aug 06, 2025 Announcement • May 15
Sysmex Corporation, Annual General Meeting, Jun 27, 2025 Sysmex Corporation, Annual General Meeting, Jun 27, 2025. Announcement • Feb 28
Sysmex Corporation to Report Fiscal Year 2025 Results on May 14, 2025 Sysmex Corporation announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: JP¥24.01 (vs JP¥21.60 in 2Q 2024) Second quarter 2025 results: EPS: JP¥24.01 (up from JP¥21.60 in 2Q 2024). Revenue: JP¥130.5b (up 11% from 2Q 2024). Net income: JP¥15.0b (up 10% from 2Q 2024). Profit margin: 12% (in line with 2Q 2024). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Oct 03
D-Group S.p.A. acquired an unknown minority stake in Dasit S.p.A. from Sysmex Corporation (TSE:6869). D-Group S.p.A. acquired an unknown minority stake in Dasit S.p.A. from Sysmex Corporation (TSE:6869) on October 2, 2024.
Francesco Stella of Hogan Lovells acted as legal advisor for Sysmex Corporation.
D-Group S.p.A. completed the acquisition of an unknown minority stake in Dasit S.p.A. from Sysmex Corporation (TSE:6869) on October 2, 2024. New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 34% and the cash payout ratio is 87%. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.9%). Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥17.69 (vs JP¥13.73 in 1Q 2024) First quarter 2025 results: EPS: JP¥17.69 (up from JP¥13.73 in 1Q 2024). Revenue: JP¥111.9b (up 17% from 1Q 2024). Net income: JP¥11.0b (up 28% from 1Q 2024). Profit margin: 9.9% (in line with 1Q 2024). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €14.50. The fair value is estimated to be €18.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.8%. For the next 3 years, revenue is forecast to grow by 8.0% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 108%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but not covered by cash flows (136% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥238 (vs JP¥72.94 in FY 2023) Full year 2024 results: EPS: JP¥238 (up from JP¥72.94 in FY 2023). Revenue: JP¥461.5b (up 12% from FY 2023). Net income: JP¥49.6b (up 8.4% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • May 12
Sysmex Corporation, Annual General Meeting, Jun 21, 2024 Sysmex Corporation, Annual General Meeting, Jun 21, 2024. Reported Earnings • May 10
Full year 2024 earnings released: EPS: JP¥238 (vs JP¥72.94 in FY 2023) Full year 2024 results: EPS: JP¥238 (up from JP¥72.94 in FY 2023). Revenue: JP¥461.5b (up 12% from FY 2023). Net income: JP¥49.6b (up 8.4% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.4% to €14.50. The fair value is estimated to be €18.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 9.5%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Apr 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €14.80. The fair value is estimated to be €18.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 9.5%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. New Risk • Mar 27
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 293% Dividend yield: 3.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 26 June 2024. Payout ratio is a comfortable 38% and the cash payout ratio is 98%. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (1.6%). Announcement • Mar 08
Sysmex Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Sysmex Corporation announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥58.90 (vs JP¥53.51 in 3Q 2023) Third quarter 2024 results: EPS: JP¥58.90 (up from JP¥53.51 in 3Q 2023). Revenue: JP¥113.8b (up 8.7% from 3Q 2023). Net income: JP¥12.3b (up 9.7% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Sysmex Corporation Reaffirm Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024 Sysmex Corporation announced year-end dividend for the fiscal year ending March 31, 2024, with a record date of March 31, 2024, will be paid on the shares before the stock split, because the effective date of the share split is April 1, 2024. The year-end dividend forecast for the fiscal year ending March 31, 2024 remains unchanged from that the announcement on May 11, 2023, which forecasts the year-end dividend of ¥42 per share. Announcement • Nov 30
Sysmex Corporation to Report Q3, 2024 Results on Feb 09, 2024 Sysmex Corporation announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥64.81 (vs JP¥76.28 in 2Q 2023) Second quarter 2024 results: EPS: JP¥64.81 (down from JP¥76.28 in 2Q 2023). Revenue: JP¥117.3b (up 8.7% from 2Q 2023). Net income: JP¥13.6b (down 15% from 2Q 2023). Profit margin: 12% (down from 15% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥42.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.0%). Announcement • Sep 08
Sysmex Corporation to Report Q2, 2024 Results on Nov 08, 2023 Sysmex Corporation announced that they will report Q2, 2024 results on Nov 08, 2023 Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥41.20 (vs JP¥38.38 in 1Q 2023) First quarter 2024 results: EPS: JP¥41.20 (up from JP¥38.38 in 1Q 2023). Revenue: JP¥95.4b (up 11% from 1Q 2023). Net income: JP¥8.62b (up 7.4% from 1Q 2023). Profit margin: 9.0% (down from 9.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jun 03
Sysmex Corporation to Report Q1, 2024 Results on Aug 08, 2023 Sysmex Corporation announced that they will report Q1, 2024 results at 3:00 PM, Tokyo Standard Time on Aug 08, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥219 (vs JP¥211 in FY 2022) Full year 2023 results: EPS: JP¥219 (up from JP¥211 in FY 2022). Revenue: JP¥410.5b (up 13% from FY 2022). Net income: JP¥45.8b (up 3.8% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 13
Sysmex Corporation, Annual General Meeting, Jun 23, 2023 Sysmex Corporation, Annual General Meeting, Jun 23, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (1.7%). Reported Earnings • Feb 13
Third quarter 2023 earnings released: EPS: JP¥53.51 (vs JP¥50.96 in 3Q 2022) Third quarter 2023 results: EPS: JP¥53.51 (up from JP¥50.96 in 3Q 2022). Revenue: JP¥104.7b (up 16% from 3Q 2022). Net income: JP¥11.2b (up 5.1% from 3Q 2022). Profit margin: 11% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 07
Sysmex Corporation Announces Management Changes Sysmex Corporation announced that it has resolved, at a meeting of the Board of Directors held on February 7, 2023, to change the representative directors. Kaoru Asano appointed as President (Representative Director) from Member of the Managing Board and Senior Executive Officer, Senior Managing Director, CTO. Appointment Date (Scheduled): April 1, 2023. Date of birth: October 19, 1958. Education: Graduate School of Engineering Osaka University, Division of Electronic Engineering. 2021- Member of the Managing Board and Senior Executive Officer, Senior Managing Director, CTO; 2018-2021 Member of the Managing Board and Senior Executive Officer, Senior Managing Director, COO LS Business Unit and CTO; 2017-2018 Member of the Managing Board and Senior Executive Officer, Senior Managing Director; 2015-2017 Member of the Managing Board and Senior Executive Officer, Managing Director; 2014-2015 Appointed Member of the Managing Board and Senior Executive Officer. 2013-2014 -Appointed Senior Executive Officer, Executive Vice President of Central Research Laboratories; 2011-2013 Appointed Executive Officer, Executive Vice President of R&D Strategic Planning; 2009-2011 Appointed Executive Officer, Executive Vice President of Central Research Laboratories; Aug. 1987 Joined TOA Medical Electronics (presently Sysmex Corporation); Apr. 1983 Joined Kawasaki Heavy Industries Ltd.; March 1983 Graduated from Osaka University. Hisashi Ietsugu: Current: Chairman and CEO (Representative Director); New: Chairman and Group CEO, (Representative Director). Announcement • Jan 11
Sysmex America, Inc. Appoints Chris Cappella as Chief Financial Officer Sysmex America Inc. announced that Chris Cappella has joined the Company as Chief Financial Officer. He will lead Sysmex America's regional finance organization and financial activities including accounting and controllership, financial planning and analysis, tax, internal audit and treasury. to joining Sysmex, Chris held a variety of finance leadership roles at Roche, most recently as the vice president of finance for Core Lab. At Roche, he was instrumental in driving growth through the cross-functional integration of agile strategies. Before his time at Roche, Chris was a finance manager at Brightpoint Inc. He started his career at Ernst & Young and is a Certified Public Accountant. Announcement • Dec 01
Sysmex Corporation to Report Q3, 2023 Results on Feb 09, 2023 Sysmex Corporation announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 17
Second quarter 2023 earnings released: EPS: JP¥76.28 (vs JP¥58.61 in 2Q 2022) Second quarter 2023 results: EPS: JP¥76.28 (up from JP¥58.61 in 2Q 2022). Revenue: JP¥108.0b (up 21% from 2Q 2022). Net income: JP¥16.0b (up 30% from 2Q 2022). Profit margin: 15% (up from 14% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Nov 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Member of the Managing Board Hidekazu Fukumoto was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: JP¥76.28 (vs JP¥58.61 in 2Q 2022) Second quarter 2023 results: EPS: JP¥76.28 (up from JP¥58.61 in 2Q 2022). Revenue: JP¥108.0b (up 21% from 2Q 2022). Net income: JP¥16.0b (up 30% from 2Q 2022). Profit margin: 15% (up from 14% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.8%). Announcement • Sep 14
Sysmex Corporation to Report Q2, 2023 Results on Nov 09, 2022 Sysmex Corporation announced that they will report Q2, 2023 results on Nov 09, 2022 Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥38.38 (vs JP¥47.81 in 1Q 2022) First quarter 2023 results: EPS: JP¥38.38 (down from JP¥47.81 in 1Q 2022). Revenue: JP¥86.0b (up 8.4% from 1Q 2022). Net income: JP¥8.03b (down 20% from 1Q 2022). Profit margin: 9.3% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 14%, compared to a 7.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Jun 18
Sysmex Corporation to Report Q1, 2023 Results on Aug 04, 2022 Sysmex Corporation announced that they will report Q1, 2023 results on Aug 04, 2022 Buying Opportunity • Jun 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €69.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 2.7%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥211 (vs JP¥159 in FY 2021) Full year 2022 results: EPS: JP¥211 (up from JP¥159 in FY 2021). Revenue: JP¥363.8b (up 19% from FY 2021). Net income: JP¥44.1b (up 33% from FY 2021). Profit margin: 12% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.7%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • May 14
Sysmex Corporation, Annual General Meeting, Jun 24, 2022 Sysmex Corporation, Annual General Meeting, Jun 24, 2022. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Member of the Managing Board Hidekazu Fukumoto was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 04
Sysmex Corporation to Report Fiscal Year 2022 Results on May 12, 2022 Sysmex Corporation announced that they will report fiscal year 2022 results at 3:00 PM, Tokyo Standard Time on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (1.1%). Buying Opportunity • Mar 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 43%. The fair value is estimated to be JP¥81.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 17% share price gain to €74.00, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 34x in the Medical Equipment industry in Germany. Total returns to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €86.16 per share. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥50.96 (up from JP¥50.90 in 3Q 2021). Revenue: JP¥90.1b (up 13% from 3Q 2021). Net income: JP¥10.7b (flat on 3Q 2021). Profit margin: 12% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.9%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €95.50, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 36x in the Medical Equipment industry in Germany. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €75.84 per share. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS JP¥58.61 (vs JP¥39.09 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥89.4b (up 25% from 2Q 2021). Net income: JP¥12.3b (up 50% from 2Q 2021). Profit margin: 14% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥37.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 18% share price gain to €109, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 47x in the Medical Equipment industry in Germany. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €94.76 per share. Announcement • Jun 03
Sysmex America Adds FDA-Cleared XN-10 Blood Bank Mode to Hematology Solutions Portfolio Sysmex America Inc., has added the FDA-cleared XN-10 Automated Hematology Analyzer with Blood Bank mode to its portfolio of hematology solutions. This latest analyzer supports red blood cell and platelet component testing and provides an automated complete blood count with differential for whole blood samples. The company is the first and only original equipment manufacturer of Automated Hematology devices to receive FDA-cleared intended use claims for the Blood Center/Blood Bank market. The XN Blood Bank mode is intended for use in blood processing centers for QC release testing of post-processed components. Blood component quality is key in transfusion medicine and blood product manufacturing. Sysmex America's XN Blood Bank mode is a holistic solution that offers accurate cell counts on products that are key to blood centers and blood banks. With no sample preparation or pre-dilution required, the XN Blood Bank mode provides precise and rapid cell counts for greater confidence in blood product quality. Available as a single module (XN-1000BB) or twin co-primary analyzers (XN-2000BB), the scalable hematology analyzer may be installed as a tabletop analyzer or placed on wagons, and either model may be made even more efficient with the addition of the RU-20 reagent unit. Reported Earnings • May 15
Full year 2021 earnings released: EPS JP¥159 (vs JP¥167 in FY 2020) The company reported a mediocre full year result with weaker earnings, although profit margins were flat and revenues improved. Full year 2021 results: Revenue: JP¥305.1b (up 1.0% from FY 2020). Net income: JP¥33.1b (down 5.0% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming Dividend of JP¥36.00 Per Share Will be paid on the 22nd of June to those who are registered shareholders by the 30th of March. The trailing yield of 0.6% is below the top quartile of German dividend payers (3.3%), and is lower than industry peers (1.0%). Announcement • Mar 11
Sysmex Corporation to Report Fiscal Year 2021 Results on May 12, 2021 Sysmex Corporation announced that they will report fiscal year 2021 results on May 12, 2021 Is New 90 Day High Low • Feb 25
New 90-day low: €86.50 The company is down 4.0% from its price of €90.00 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.91 per share. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS JP¥50.90 (vs JP¥42.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥79.8b (up 6.1% from 3Q 2020). Net income: JP¥10.6b (up 20% from 3Q 2020). Profit margin: 13% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 8.3%, compared to a 14% growth forecast for the Medical Equipment industry in Germany. Announcement • Jan 26
Roche Holding AG Renews Partnership with Sysmex to Deliver Haematology Testing Solutions Roche Holding AG announced that, on 14 December, 2020, it signed a Global Business Partnership Agreement (GBP) with Sysmex. Under this new framework, the parties renewed their commitment to the long standing Distribution, Sales and Service (DSS) agreement, allowing Roche to continue to distribute Sysmex haematology products, including instruments and reagents.2 This GBP sees the introduction of an IT Solutions Collaboration Agreement. In the newly defined collaboration, the two companies have agreed to utilise their respective IT platforms to improve customer experience, in the short to mid-term, with a longer term ambition to use the IT systems to lead to improved clinical decision making. The GBP agreement will run until the end of 2030. The burden of blood disorders is very high, not only for patients but for society as a whole. Recent studies estimated that, in Europe, 80 million people suffer from haematological disorders and the economic impact of blood disorders in Europe amounts to EUR 23 billion per year, mostly in healthcare expenditure. Improved management is a key factor to counteract the rise of this economic burden for healthcare and society. Is New 90 Day High Low • Dec 29
New 90-day high: €95.50 The company is up 18% from its price of €81.00 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.40 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €93.50 The company is up 30% from its price of €72.00 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.32 per share. Announcement • Dec 03
Sysmex Corporation to Report Q3, 2021 Results on Feb 03, 2021 Sysmex Corporation announced that they will report Q3, 2021 results on Feb 03, 2021 Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 8.1%, compared to a 13% growth forecast for the Medical Equipment industry in Germany. Reported Earnings • Nov 07
Second quarter 2021 earnings released: EPS JP¥39.09 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥71.6b (down 3.9% from 2Q 2020). Net income: JP¥8.17b (down 25% from 2Q 2020). Profit margin: 11% (down from 15% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 05
New 90-day high: €83.50 The company is up 34% from its price of €62.50 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.77 per share. Is New 90 Day High Low • Oct 12
New 90-day high: €83.00 The company is up 28% from its price of €65.00 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.46 per share. Announcement • Oct 10
Sysmex Corporation to Report Q2, 2021 Results on Nov 05, 2020 Sysmex Corporation announced that they will report Q2, 2021 results on Nov 05, 2020 Announcement • Jun 29
Sysmex Corporation to Report Q1, 2021 Results on Aug 05, 2020 Sysmex Corporation announced that they will report Q1, 2021 results on Aug 05, 2020 
