Report

PSA Healthcare / Medical Equipment: FY24 Q2 Results for Sysmex (6869 JT) and Omron (6645 JT)

Having started FY24 with its strongest Q1 yet, healthcare equipment provider Sysmex continued its impressive earnings performance into the Q2. Analyst Nia Dokova views the full-year guidance as conservative as the firm is making progress in the shift to direct sales in the Americas and EMEA.
Underlyings
OMRON Corporation

Omron is engaged in the manufacture and sale of electric equipment, electronic components and medical equipment. Industrial Automation Business offers control equipment, sensing equipment and safety equipment for factory automation. Electronic & Mechanical Components Business offers relays, switches and connectors. Automotive Electronic Components Business manufactures automotive motor controllers, switches and other systems and components. Social Systems/Solutions & Services Business offers railway station service systems, traffic and road management systems and security and safety systems. Healthcare Business offers digital blood pressure monitors, digital thermometers and nebulizers.

Sysmex Corporation

Sysmex and its affiliates are mainly engaged in the healthcare business. Co. is involved in the development, manufacture, and sale of clinical laboratory testing equipment and reagents. Co. provides instruments, in vitro diagnostic reagents, and software for testing of blood and urine samples in the field of hematology, urinalysis, immuno-chemistry, clinical chemistry, and hemostasis. Co.'s principal products include hematology (XN-L and XN series, pocH™-80i, XP-300™), hemostasis (CS-5100™), immunochemistry (HISCL™-5000), and urinalysis (UD-10™, UF-5000™, UC-3500™). Co. operates its operations in Japan, the Americas, EMEA (Europe, the Middle East and Africa), China and Asia Pacific regions.

Provider
Pelham Smithers Associates Ltd
Pelham Smithers Associates Ltd

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries. 

The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012. 

Analysts
Nia Dokova

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