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Management & Business Management & Business
May. 08, 2013

Sysmex Announces New Group Mid-Term Management Plan
- Leveraging a Business Unit Structure to Accelerate Implementation Toward Achieving Long-Term Vision Objectives -

  Sysmex Corporation (HQ: Kobe, Japan; Chairman and CEO: Hisashi Ietsugu) has formulated a new Mid-Term Management Plan for the three years ending March 31, 2016. The new plan is designed to maintain our high level of growth and further enhance profitability.
 This Group Mid-Term Management Plan aims to reinforce our business promotion structures in each field of testing through a business unit structure and accelerate implementation, with the aim of achieving the objectives of the Long-Term Vision we formulated in 2011. The plan defines topics of key importance to be addressed for each business unit, and through overall management spanning strategic planning and product development to market introduction, by the fiscal year ending March 31, 2016, we aim to achieve net sales of ¥220.0 billion and operating income of ¥40.0 billion.

  The global healthcare market promises ongoing growth, driven by graying populations in advanced countries and efforts in emerging markets to expand their healthcare infrastructures in line with population increase and economic development. The industry also presents new growth opportunities by organizations that aggressively leverage advances in genetic/molecular diagnostics and communication technologies. At the same time, however, competition is likely to grow fiercer, as players from other industries enter the fields and the participation by companies in emerging countries becomes more conspicuous.

  Sysmex has achieved continuous high growth by anticipating market changes and adopting unique strategies, such as establishing its operations globally, expanding its product portfolio and providing appropriate solutions and advanced support to customers.
  To maintain our high level of Group growth and further enhance profitability amid the major changes that are forecast to occur in our operating environment, we will take advantage of a business unit structure to achieve the objectives of our Long-Term Vision and accelerate implementation of this Group Mid-Term Management Plan.

1. Long-Term Vision

(1) Long-Term Vision

A Unique & Global Healthcare Testing Company

(2) Long-Term Goals

1) Positioning

- Undisputed Global Leader in Hematology

- Leading Company in Asian IVD1

- Leading Company in theranostics2

1:Acronym for in vitro diagnostics

2:Composite word (therapy + diagnostics) means testing with high clinical value to realization of personalized medicine

2) Financial Target

- Consolidated net sales of ¥500 billion

(3) Core Strategies

1) Leading Hematology (Undisputed Global Leader in Hematology)

  Sysmex aims to remain the undisputed global leader in the field of hematology by providing products with high levels of quality and usability, as well as advanced after-sales support.
As the industry frontrunner, by applying advanced technologies and through ongoing R&D initiatives, we aim to create new value in the area of blood disorder diagnosis.

2) Leading in Emerging Markets (Focus on Emerging Markets)

  By introducing products tailored to meet market needs and enhancing our sales and support networks in emerging markets, which are expected to grow rapidly, we aim to become a comprehensive IVD supplier and lead the development of testing within these countries. Particularly in Asia, we intend to leverage the advantages that we have created as we work to become the leading company in non-hematology fields.

3) Innovating Life Science

  In the area of theranostics, particularly for cancer, we aim to create unique testing techniques and achieve synergy between our own technologies and those developed by others. In this way, we intend to create new value through personalized medicine and by integrating therapy with diagnostics.

2. Group Mid-Term Management Plan

(1) Mid-Term Goals (Consolidated)

 

Year Ending March 31, 2014

Year Ending March 31, 2016

CAGR 
(Three Years)

Net sales

¥175.0 billion

¥220.0 billion

14.8%

Operating income

¥30.0 billion

¥40.0 billion

22.4%

Operating margin

17.1%

18.2%

ROE

14.6%

15.5%

Operating cash flow 

¥23.5 billion

¥35.0 billion

Free cash flow

¥3.5 billion

¥20.0 billion

(2) Sales Goals by Business

 

Year Ending March 31, 2014

Year Ending March 31, 2016

CAGR 
(Three Years)

HU Business Unit

¥132.3 billion

¥162.4 billion

14.4%

ICH Business Unit

¥30.7 billion

¥44.8 billion

19.4%

LS Business Unit

¥1.6 billion 

¥2.8 billion 

38.2%

(3) Sales Goals by Destination

 

Year Ending March 31, 2014

Year Ending March 31, 2016

CAGR 
(Three Years)

Japan

¥41.2 billion

¥46.5 billion

5.0%

Americas

¥40.1 billion

¥52.5 billion

19.5%

EMEA

¥48.0 billion

¥53.1 billion

10.3%

China

¥32.2 billion

¥50.1 billion

27.0%

Asia Pacific

¥13.5 billion

¥17.8 billion

18.8%

Note: Assumed exchange rates during the period of the Mid-Term Management Plan

USD

EUR

CNY

SGD

¥95

¥125

¥15

¥76

 
3. Organizational Changes: Business Unit Structure
 

  In addition to the ICH Business Unit (the fields of immunochemistry, clinical chemistry and hemostasis), which we formed in fiscal 2012, we established the HU Business Unit (the fields of hematology and urinalysis) and the LS Business Unit (the life science field). Through this approach, in each testing field we aim to bolster the level of specialization, as well as to increase the speed of decision-making and execution.

   
  (1) HU Business Unit:A dedicated organization related to the hematology and urinalysis fields    
     ・

Within the HU Business Unit, we established the Hematology Project Engineering Div. to handle strategic planning, product planning, product development, reagent production and global product introductions in the field of hematology.

     ・

Within the HU Business Unit, we established the UB Product Engineering Div. to handle strategic planning, product planning, product development, reagent production and global product introductions in the field of urinalysis.

 

  (2) ICH Business Unit:A dedicated organization related to the fields of immunochemistry, clinical chemistry and hemostasis
     ・

This business unit handles overall management, involving strategic planning, product planning, product development, reagent production and data assurance, related to the fields of immunochemistry, clinical chemistry and hemostasis.

 

  (3) LS Business Unit: A dedicated organization related to the life science field
     ・

Within the LS Business Unit, we established the Life Science Product Engineering Div. to handle strategic planning, product planning, product development, reagent production and global product introductions related to the life science field.

 

4. Key Objectives
  (1) Enhance undisputed leadership position and increase profitability in hematology (HU Business Unit)  
  (2) Maintain growth rate in urinalysis field and augment our product portfolio (HU Business Unit) 
  (3) Achieve high level of growth in the field of immunochemistry by rapidly developing business in Asia (ICH Business Unit)
  (4) Achieve sustained growth by reinforcing our product portfolio in the hemostasis field (ICH Business Unit)
  (5) Accelerate commercialization in the OSNA business and lab assay1 business (LS Business Unit)
  (6)  Strengthen global R&D initiatives to contribute to personalized medicine and integrate therapy with diagnostics
  (7) Achieve increases in efficiency and profitability through global supply chain management reforms, and enhance system to provide a stable supply of products by expanding factories
  (8)  Reinforce global regulatory affairs structure to enable flexible response to fast-changing regulations
  (9)  Recruit and train personnel to accelerate business structure reform
  (10)  Prepare for IFRS application, and realize business process alignment and visualization through BPM2 initiatives
   

 

 

1: Provision of laboratory testing results as services
2: Business process management   

 

Forward-Looking Statements
  This material contains forward-looking statements about Sysmex Corporation and its group companies (the Sysmex Group). These forward-looking statements are based on the current judgments and assumptions of the Sysmex Group in light of the information currently available to it. Uncertainties inherent in such judgments and assumptions, the future course of our business operations, and changes in the operating environment both in Japan and overseas may cause our actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position either expressed or implied within these forward-looking statements.

 

*Information contained in the press release is current as of the date of the announcement,
but may be subject to change without prior notice.

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