On August 4, 2022 Sysmex reported that Summary of Consolidated Financial Results [ IFRS ] for the First Three Months of the Fiscal Year Ending March 31, 2023 (Press release, Sysmex, AUG 4, 2022, View Source [SID1234617445])
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1. Results for the First Three Months of the Fiscal Year Ending March 31, 2023
(1) Operating results
(2) Financial condition
2. Dividend
3. Financial Forecast for the Year Ending March 31, 2023
4. Other Information
(1) Changes in significant consolidated subsidiaries (which resulted in changes in scope of consolidation): Yes Excluded: One company (Sysmex International Reagents Co., Ltd.)
(2) Changes in accounting policies and accounting estimates 1) Changes in accounting policies required by IFRS: No 2) Other changes in accounting policies:
No 3) Changes in accounting estimates: No
(3) Number of outstanding stock (common stock)
1) Number of outstanding stock at the end of each fiscal period (including treasury stock): 209,665,482 shares as of Jun. 30, 2022; 209,657,362 shares as of Mar. 31, 2022 2) Number of treasury stock at the end of each fiscal period: 447,255 shares as of Jun. 30, 2022; 447,255 shares as of Mar. 31, 2022 3) Average number of outstanding stock for each period (cumulative): 209,214,577 shares for the three months ended Jun. 30, 2022 209,003,218 shares for the three months ended Jun. 30, 2021
1. Qualitative information on quarterly financial results
1) Operating performance analysis Future-related information contained in the text below is based on the judgement as of the end of the fiscal period under review. In the past, the Group booked configuration and customization costs in cloud computing contracts as other non-current assets. However, in the fiscal year ended March 31, 2022 we began recognizing these costs as expenses when the services are received, in accordance with a decision announced in April 2021 by the IFRS Interpretation Guidelines Committee. These changes in accounting policy have been applied retroactively, and we are comparing and analyzing the figures for the first quarter of the previous fiscal year to reflect this retroactive treatment. In the first quarter of the fiscal year ending March 31, 2023, the Japanese economy was characterized by a gradual easing of the severe situation brought about by COVID-19. Economic activity resumed, and corporate earnings, capital investment and personal consumption showed some signs of recovery. Even so, the outlook remained clouded by such factors as high resource prices and rising import costs, as yen depreciation continued. Overseas, the overall trend is toward recovery, although the situation varies by country and region.
There are concerns about an economic slowdown due to soaring energy and raw material prices stemming from increasing geopolitical risks, as well as a shift toward tighter U.S. monetary policy. On the healthcare front, aging populations in developed countries are driving demand for more efficient healthcare. Economic growth in emerging markets is causing healthcare demand to increase and prompting higher levels of healthcare quality and service enhancements. At the same time, rapid advances in the application of artificial intelligence, information and communications technology, and other leading-edge technologies to the healthcare sector are expected to continue providing opportunities for growth.
The global COVID-19 pandemic has also prompted considerations about healthcare systems and the potential for major changes in the healthcare environment itself. We anticipate further opportunities for growth, such as improving access to healthcare and a focus on self-medication. Under these circumstances, in an effort to expand its product portfolio in the hematology field Sysmex launched sample transportation system modules that can be connected to the XR-Series Automated Hematology Analyzer, its next-generation flagship model. The modules are equipped with the world’s first automated measurement function for quality control material
*1. They also enable sample sorting, sample archiving, and automated transportation of cleaning materials, will facilitate greater automation and efficiency in clinical testing operations. We will contribute toward the optimization of laboratory operations according to regional characteristics and facilities’ needs. In addition, we will continue advancing our product portfolio in the hematology field to this end. Sysmex acquired additional shares in Astrego Diagnostics AB, changing the company from an equity-method affiliate to a wholly owned subsidiary. Through this acquisition, Sysmex aims to accelerate the clinical application of a rapid antimicrobial susceptibility test
*2 that Astrego is developing for urinary tract infections
*3. Going forward, the companies aim to address medical issues through initiatives to counter antimicrobial resistance
*4. As an initiative toward the realization of personalized medicine, Sysmex submitted an application for manufacturing and marketing approval to the Pharmaceuticals and Medical Devices Agency (PMDA) for a genetic panel testing system for inherited retinal dystrophy (IRD)
*5. The system uses a next-generation sequencer
*6 to detect and analyze information on multiple genetic mutations in target genes taken from the blood of patients with IRD. This testing system is designed ultimately to assist in the planning of treatment and low vision care
*7 tailored to the causative genes as well as molecular evidence-based genetic counseling. As a result, we hope to contribute significantly to the quality of life of patients by clarifying the risk of developing IRD and prediction of symptom progression. As the global general distributor, Sysmex continued to market hinotori to medical institutions in Japan. (The hinotori Surgical Robot System is the first made-in-Japan robotic-assisted surgery system.) Based on our launch in the Japanese market, we are putting together regulatory affairs and sales systems in preparation to enter overseas markets.
*1 According to Sysmex’s research
*2 Antimicrobial susceptibility test： A test to determine the efficacy of various antimicrobial drugs against pathogenic bacteria detected in a sample.
*3 Urinary tract infections: The urinary tract runs between the kidneys and the urethral opening. Inflammations due to － 3 － the incursion of bacteria into the urinary tract are known as urinary tract infections. Such infections can lead to bladder inflammation and pyelonephritis (inflammation of the kidneys).
*4 Antimicrobial resistance: This phenomenon occurs when living organisms develop a resistance to a drug, whose efficacy is reduced or nullified as a result. Bacteria that have developed microbial resistance are known as antimicrobial-resistant bacteria.
*5 Inherited retinal dystrophy: A hereditary progressive disease presumably caused by a gene mutation. Several diseases that present similar symptoms are collectively referred to as IRD. Its main symptoms include night blindness (difficulty seeing in dim light), tunnel vision (a narrowing field of vision), and progressive loss of vision, which can lead to a complete loss of vision in severe cases. It is estimated that one out of every 4,000 to 8,000 people develops an IRD. The most common IRD subtype is Retinitis Pigmentosa (a designated intractable disease, Notification No: 90).
*6 Next-generation sequencer: An analyzer for reading large volumes of DNA base sequences.
*7 Low vision care: To those who experience any difficulty in their daily lives due to vision problems, a wide variety of support is offered, including the provision of advice or medical devices to improve quality of life, provision of various counseling and information services on careers and employment, and use of welfare programs.