On November 5, 2020 Sysmex’s reported that financial forecast for the fiscal year ending March 31, 2021 was undetermined as of May 12, 2020, when the Company released its "Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (Press release, Sysmex, NOV 5, 2020, View Source [SID1234570033])." This forecast is now available, as outlined below.

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1. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2021 (April 1, 2020 to March 31, 2021)
2. Reasons for Announcement

Previously, Sysmex’s financial forecast for the fiscal year ending March 31, 2021 was undetermined, as it was difficult to rationally calculate the impact the COVID-19 pandemic might have on the Company’s performance. However, we have now calculated and are disclosing our financial forecast, based on performance for the first six months of the fiscal year and taking into account the information and forecasts currently available.

In the first quarter, COVID-19 led to lower market demand for testing. As a result, performance in the first six months was down year on year, including net sales and all levels of profit. Nevertheless, testing demand began to recover in the second quarter (July through September) largely, and we expect operating performance to gradually rebound going forward.

For the fiscal year ending March 31, 2021, we expect net sales to increase year on year. Although the global outlook remains uncertain due to concerns about further waves of COVID-19 and ongoing trade friction between the United States and China, we expect sales to recover owing to solid resurgent testing demand and efforts to put healthcare systems in place. On the profit front, however, we expect year-on-year decreases in operating profit, Profit before tax and Profit attributable to owners of the parent as the result of decrease in reagent sales (stemming from lost testing demand in the first half) and proactive R&D expenses as we continuingly invest toward future growth.

These forecasts are calculated on the basis of currently available information. Actual results may differ for a variety of reasons.

The foreign exchange assumptions used for calculating financial forecasts from the third quarter onward are USD1.00 = JPY106, EUR1.00 = JPY122 and CNY1.00 = JPY15.3