PSA Healthcare: Sysmex Corp (6869 JT) – Standing up to the Test
With the shares down 41% YTD, Pelham Smithers flags test equipment maker Sysmex as a weak yen beneficiary. Moreover, while Covid has been something of a mixed blessing for the firm, even if Covid-related testing slows, it probably frees up resources elsewhere in the healthcare market, which would lead to increased testing elsewhere. Valuations are also less demanding than global peers.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.
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.
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