Helped by the impact of yen depreciation, the Company achieved double-digit sales growth, centered on overseas markets.
Income rose substantially, bolstered by the effects of higher sales and an improved cost of sales ratio.
During the first nine months of the fiscal year ending March 31, 2014, due in part to the impact of yen depreciation Sysmex posted a double-digit increase in sales, centered on overseas markets. Furthermore, income benefited from the effects of higher sales and an improved cost of sales ratio. Net sales rose 28.1% year on year, with operating income up 45.6%, ordinary income up 48.8% and net income up 47.1%. At the exchange rates prevailing one year earlier, net sales would have been up 8.1% and operating income up 1.0%.
In Japan, the Company’s sales in the hematology field*1 declined but sales in non-hematology fields*2 were firm, leading to an overall sales increase. Overseas, sales were up in all geographic regions. Sales growth was particularly pronounced in the Asia Pacific region, due to the transition to direct sales in South Korea and Thailand and robust performance in Indonesia, Malaysia and Australia. As a result, sales in this region surged 66.9% year on year. As a result, the Sysmex Group’s overseas sales ratio amounted to 78.5%.
As performance in the first nine months was generally according to plan, we maintain unchanged our consolidated financial forecast for the full fiscal year ending March 31, 2014, as announced in November 2013.
Among major initiatives during the period, based on the results of a New Energy and Industrial Technology Development Organization (NEDO) project, collaborative development by Sysmex and the National Institute of Advanced Industrial Science and Technology resulted in the world’s first practical application of technology employing a glycosylation marker to test the degree of hepatic fibrosis by blood sampling. We plan to continue aggressively pursuing research and development activities to contribute to the advancement of healthcare throughout the world.
I ask for the continued support of our shareholders.
*1 Hematology field: The field of in vitro diagnostics that determines whether precise testing is necessary by analyzing the number, type and size of red, white and other blood cells.
*2 Non-hematology field: in vitro diagnostics fields excluding hematology but including hemostasis, immunochemistry, urinalysis, clinical chemistry and others.
Chairman and CEO