SYSMEX CORPORATION

Business Details

Sysmex Corporation itself, along with domestic subsidiaries and certain overseas subsidiaries (such as in South Korea), are responsible for the development, manufacturing and sales of clinical testing instruments and reagents. In addition to Hematology, Blood Coagulation Testing, Urinalysis, Life Science and other fields, the segment also operates the Medical Robotics business (the hinotori™ surgical support robot). In addition to sales to external customers, the segment plays a major role as a manufacturing base supplying products to other segments within the Group (intersegment sales of ¥130,449 million).

Recent Overview

Profit fell sharply, down 69.9% year on year, due to reduced supply to China and impairment losses

In the Head Office Headquarters segment for FY2026 (ended March 2026), instrument and reagent sales in the Hematology and Blood Coagulation Testing fields declined within Japan, and sales to external customers came to ¥87,562 million (down 6.8% year on year). On the profit side, in addition to the decline in revenue, a deterioration in the cost-of-sales ratio, an increase in selling, general and administrative expenses, and the recording of an impairment loss of ¥11,519 million due to changes in the business environment and strategic changes combined to cause segment profit to fall sharply to ¥17,771 million (down 69.9% year on year). In the Medical Robotics business, maintenance service sales increased while instrument sales decreased.

Key Products

Growth Drivers

• Expanded deployment of the CN Series in the Blood Coagulation Testing field both domestically and overseas (explicitly cited as a key contributing factor in the FY2027 (ending March 2027) earnings forecast)
• Recovery in intra-group product supply (intersegment sales) to emerging markets and overseas markets
• Continued expansion of maintenance service revenue in the Medical Robotics business (hinotori™)
• Advancement of medical DX and data utilization through the effects of investment in digital infrastructure (Caresphere™)
• Enhanced competitiveness of the Diagnostics business and improved profitability through value chain reform under the new Medium-Term Management Plan (FY2027 (ending March 2027) through FY2029 (ending March 2029))
• Expansion of the product portfolio in the biochemistry testing field through the acquisition of JEOL's medical equipment business (BioMajesty series), effective April 1, 2026

Risks

• Continued decline in domestic instrument and reagent sales in the Hematology and Blood Coagulation Testing fields
• Persistently elevated selling, general and administrative expenses due to increased headcount and increased amortization expenses associated with building digital infrastructure as the business expands in scale (FY2026 (ended March 2026): ¥164,351 million, up 9.0% year on year)
• Risk of additional impairment losses due to changes in the business environment, strategic changes, etc. (¥11,519 million recorded in FY2026 (ended March 2026))
• Risk of deterioration in the cost-of-sales ratio (increased fixed cost burden due to lower revenue)
• Risk of continued decline in intra-group supply to China (intersegment sales) due to the prolonged implementation of medical cost containment policies
• Risk of future impairment of goodwill and intangible assets, as well as integration costs, associated with the acquisition of JEOL's medical equipment business
• Risk of increased financial leverage due to new borrowings of ¥50,000 million (executed on April 28, 2026)