Major Estimate Revision • May 21
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from JP¥535.0b to JP¥529.4b. EPS estimate also fell from JP¥76.43 per share to JP¥65.93 per share. Net income forecast to grow 18% next year vs 8.1% growth forecast for Medical Equipment industry in Japan. Consensus price target broadly unchanged at JP¥1,729. Share price rose 2.1% to JP¥1,371 over the past week. Announcement • May 15
Sysmex Corporation, Annual General Meeting, Jun 26, 2026 Sysmex Corporation, Annual General Meeting, Jun 26, 2026. New Risk • May 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.1% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: 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). Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. 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 26% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from JP¥69.21 to JP¥56.15. Revenue forecast unchanged from JP¥501.4b at last update. Net income forecast to shrink 0.6% next year vs 4.2% growth forecast for Medical Equipment industry in Japan . Consensus price target of JP¥1,759 unchanged from last update. Share price fell 2.2% to JP¥1,379 over the past week. Buy Or Sell Opportunity • Apr 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.6% to JP¥1,408. The fair value is estimated to be JP¥1,774, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 2.8%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 9.7% per annum over the same time period. Buy Or Sell Opportunity • Apr 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.9% to JP¥1,416. The fair value is estimated to be JP¥1,785, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 2.8%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 9.7% per annum over the same time period. 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. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 49% and the cash payout ratio is 82%. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Price Target Changed • Mar 17
Price target decreased by 9.7% to JP¥1,899 Down from JP¥2,102, the current price target is an average from 15 analysts. New target price is 40% above last closing price of JP¥1,360. Stock is down 52% over the past year. The company is forecast to post earnings per share of JP¥72.17 for next year compared to JP¥86.07 last year. 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. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥1,332, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Medical Equipment industry in Japan. Total loss to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥1,564 per share. Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: JP¥23.55 (down from JP¥26.64 in 3Q 2025). Revenue: JP¥128.6b (up 3.4% from 3Q 2025). Net income: JP¥14.7b (down 12% from 3Q 2025). Profit margin: 11% (down from 13% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. New Risk • Feb 13
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 Japanese stocks, typically moving 6.2% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Share price has been volatile over the past 3 months (6.2% average weekly change). Buy Or Sell Opportunity • Feb 13
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to JP¥1,303. The fair value is estimated to be JP¥1,763, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. 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 Declared Dividend • Dec 03
First half dividend increased to JP¥19.00 Dividend of JP¥19.00 is 12% higher than last year. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 2.6%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by earnings (47% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 11% 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 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 06
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: JP¥23.21 (down from JP¥24.01 in 2Q 2025). Revenue: JP¥126.8b (down 2.9% from 2Q 2025). Net income: JP¥14.5b (down 3.4% from 2Q 2025). Profit margin: 11% (in line with 2Q 2025). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥19.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 03 December 2025. Payout ratio is a comfortable 42% and the cash payout ratio is 80%. Trailing yield: 1.9%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). 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 Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥2,060, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Medical Equipment industry in Japan. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,226 per share. Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: JP¥7.30 (down from JP¥17.69 in 1Q 2025). Revenue: JP¥105.7b (down 5.6% from 1Q 2025). Net income: JP¥4.55b (down 59% from 1Q 2025). Profit margin: 4.3% (down from 9.9% in 1Q 2025). Revenue missed analyst estimates by 10.0%. Earnings per share (EPS) also missed analyst estimates by 60%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. 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 10% per year, which means it is significantly lagging earnings. 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 Reported Earnings • May 16
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥86.07 (up from JP¥79.27 in FY 2024). Revenue: JP¥508.6b (up 10% from FY 2024). Net income: JP¥53.7b (up 8.1% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.3%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Medical Equipment industry in Japan. 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 2% per year, which means it is significantly lagging earnings. Announcement • May 15
Sysmex Corporation, Annual General Meeting, Jun 27, 2025 Sysmex Corporation, Annual General Meeting, Jun 27, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 24 June 2025. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (1.1%). 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 • Feb 13
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥26.64 (up from JP¥19.62 in 3Q 2024). Revenue: JP¥124.4b (up 9.3% from 3Q 2024). Net income: JP¥16.6b (up 35% from 3Q 2024). Profit margin: 13% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 5.0%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Medical Equipment industry in Japan. 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 2% per year, which means it is significantly lagging earnings. Declared Dividend • Dec 04
First half dividend of JP¥15.00 announced Shareholders will receive a dividend of JP¥15.00. Ex-date: 28th March 2025 Payment date: 24th June 2025 Dividend yield will be 0.9%, which is about the same as the industry average. Payout Ratios Payout ratio: 34%. Cash payout ratio: 58%. Reported Earnings • Nov 08
Second quarter 2025 earnings: EPS exceeds analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. 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 12% 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. 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 Japanese dividend payers (3.8%). In line with average of industry peers (1.0%). Reported Earnings • Aug 08
First quarter 2025 earnings: EPS exceeds analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Medical Equipment industry in Japan. 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 13% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.7% to JP¥2,402. The fair value is estimated to be JP¥3,092, 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 2.2%, which is higher than the industry average of 1.0%. 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: Revenues exceed analysts expectations while EPS lags behind 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 exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. 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. Announcement • May 12
Sysmex Corporation, Annual General Meeting, Jun 21, 2024 Sysmex Corporation, Annual General Meeting, Jun 21, 2024. Reported Earnings • May 11
Full year 2024 earnings: EPS and revenues exceed analyst expectations 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 exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 186%. 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 Japan. 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 10% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 09
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥83.33 to JP¥95.26. Revenue forecast steady at JP¥453.1b. Net income forecast to grow 29% next year vs 21% growth forecast for Medical Equipment industry in Japan. Consensus price target broadly unchanged at JP¥3,053. Share price was steady at JP¥2,704 over the past week. Major Estimate Revision • Apr 06
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥83.41 to JP¥96.60. Revenue forecast steady at JP¥453.2b. Net income forecast to grow 29% next year vs 17% growth forecast for Medical Equipment industry in Japan. Consensus price target broadly unchanged at JP¥3,056. Share price fell 5.8% to JP¥2,508 over the past week. Major Estimate Revision • Apr 02
Consensus EPS estimates increase by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥83.41 to JP¥96.52. Revenue forecast unchanged at JP¥452.9b. Net income forecast to grow 29% next year vs 18% growth forecast for Medical Equipment industry in Japan. Consensus price target broadly unchanged at JP¥2,999. Share price fell 2.5% to JP¥2,606 over the past week. Price Target Changed • Mar 29
Price target decreased by 67% to JP¥1,017 Down from JP¥3,052, the current price target is an average from 13 analysts. New target price is 62% below last closing price of JP¥2,662. Stock is down 7.6% over the past year. The company is forecast to post earnings per share of JP¥83.41 for next year compared to JP¥72.94 last year. 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 Japanese dividend payers (3.2%). Higher than average of industry peers (0.9%). 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 10
Third quarter 2024 earnings: EPS misses analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.7%. 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 Japan. 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 14% 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: EPS exceeds analyst expectations 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 was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. 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 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 21
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 Japanese dividend payers (3.3%). In line with average of industry peers (1.1%). 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 
