Sysmex Raises Operating Profit Forecast 14.2% After Sales Rise 17.3% to ¥272.822 Billion
Key Facts
Sysmex reported on November 10, 2026, that sales in the first half of its fiscal year ending in March 2027 rose 17.3% to ¥272.822 billion, compared with ¥232.527 billion in the same period. But revenue growth did not translate into earnings growth at the same pace: operating profit increased 1.4% to ¥33.428 billion, while profit attributable to owners of the parent fell 5.7% to ¥17.933 billion. Basic and diluted earnings per share were ¥29.47, compared with ¥30.50 in the previous first half. The results cover the period from April 1 to September 30, 2026. At the same time, the company raised its full-year forecasts, with larger revisions to operating profit and profit attributable to owners than to sales.
The company attributed sales growth to strong performance in the Americas and other regions, as well as the impact of the weaker yen. It also cited higher overseas sales of hematology equipment, reagents and maintenance services. Sales in the Americas were ¥82.171 billion, equivalent to 127.0% of the level in the same period. Sales in Europe, the Middle East and Africa were ¥86.804 billion, or 119.0% of the previous level, while sales in Asia-Pacific reached ¥28.914 billion, equivalent to 110.6%. The figures highlight the breadth of growth outside China, with clear differences among regional markets.
In Japan, domestic sales rose 41.8% to ¥36.069 billion, and the company said the launch of Sysmex BioMajesty following its acquisition of the business from JEOL supported the growth. By contrast, sales by destination showed China down 10.2% to ¥38.861 billion from the same period. In a separate segment breakdown, the company said China sales fell 10.4% to ¥38.730 billion. It linked the decline to lower sales of coagulation testing equipment, reagents and services, and hematology equipment amid policies to curb medical spending. The difference in the figures shows that the destination table and segment explanation present two different measures of China sales, both of which record an annual decline.
The company said higher revenue lifted gross profit and helped operating profit grow, but the period also included an impairment loss on goodwill and other assets related to the acquisition of Sysmex BioMajesty. The impairment loss recorded was ¥5.769 billion, weighing on profitability despite sales growth. For its outlook, Sysmex raised its full-year sales forecast to ¥550 billion, operating profit to ¥68.5 billion and profit attributable to owners of the parent to ¥40 billion. It also raised its forecast for basic earnings per share to ¥66.06 for the fiscal year ending March 31, 2027. The modest increase in first-half operating profit compared with the upward revision to its full-year forecast underscores the importance of second-half performance in reaching the new targets.
Compared with its previous estimates, the company raised its sales forecast by ¥5 billion, operating profit by ¥8.5 billion and profit attributable to owners by ¥3 billion, increases of 0.9%, 14.2% and 8.1%, respectively. Previous forecasts were ¥545 billion for sales, ¥60 billion for operating profit, ¥37 billion for profit attributable to owners and ¥60.89 for basic earnings per share. The company attributed the revisions to strong sales of hematology devices in the Americas, an improved cost ratio due to tariff refunds during the first half, and lower selling, general and administrative expenses for the group. These factors help explain why the operating profit forecast was raised by more than the sales estimate. The half-year report is scheduled for November 12, 2026, and dividend payments are set to begin on December 4, 2026.
In trading, Sysmex shares closed at ¥2,127 on November 10, 2026, down 0.54%, after falling from the previous session's close of ¥2,138.5. The stock had risen 3.53% on November 9, before the results were announced on November 10. The November 9 session's trading range ran from a low of ¥2,074 to a high of ¥2,151. The close on the day of the results announcement was below the previous session's close, while the company's annual forecasts had moved higher. The next date specified in the disclosure is the half-year report filing on November 12.