nihonkohden

Financial Data

Latest Financial Results

3Q of FY2020 ending March 2021

Financial Highlights

  • Overall sales increased 5.8% over the 3rd quarter of FY2019. In Japan, the Company concentrated on enhancing sales activities which match each market; the acute care hospital market, the small and mid-sized hospital market, and the clinic market. The Company also focused on selling in-house products as well as strengthening its marketing and service capabilities, creating customer value which contributed to improving medical safety, patient outcomes, and operating efficiency. However, sales decreased because medical institutions reduced the number of testing and surgical procedures, and postponed or froze the purchase budget for certain products such as Physiological Measuring Equipment. Internationally, sales in all regions achieved double-digit growth because demand for patient monitors, ventilators and defibrillators remained solid under the continuing spread of COVID-19.
  • Operating income increased 85.6% due to the increase in sales. It was also due to higher gross profit margin thanks to a favorable product mix and a decrease in SG&A expenses such as traveling expenses.  
Sales
Operating Income
Ordinary Income
Income Attributable to Owners of Parent
millions of yen
 
FY2019
3Q
(9 months)
FY2020
3Q
(9 months)
YoY
(%)
Sales
(Gross Profit Margin)
129,525
(48.7%)
137,046
(50.4%)
5.8
 
Operating Income
(Operating Income Margin)
8,396
(6.5%)
15,586
(11.4%)
85.6
 
Ordinary Income 8,108 14,697 81.2
Income Attributable to Owners of Parent 4,832 8,882 83.8
Average Exchange Rate
1 US Dollar ¥109.0 ¥106.3  
1 EURO ¥121.3 ¥122.2  

Sales by Product Category

  • Physiological Measuring Equipment: In Japan, sales of all products recorded double-digit declines due to the restrictions on sales and service activities, postponement of testing and surgical procedures, and restrained purchasing by medical institutions. Internationally, sales of EEGs decreased in the Americas and Asia & Other due to weak demand. Sales of ECGs increased favorably in all regions, partly due to demand for measures to combat COVID-19.
  • Patient Monitors: In Japan, from the 3rd quarter of FY2020 (3 months), demand for patient monitors showed recovery, but sales of bedside monitors and clinical information systems decreased in reaction to strong performance in the 9 months of FY2019. Sales of telemetry systems increased favorably. Internationally, sales in all regions achieved double-digit growth because demand for patient monitors remained solid under the continuing spread of COVID-19. Especially, sales in Europe and Latin America doubled. 
  • Treatment Equipment: In Japan, sales of ventilators, manufactured by both Hamilton and the Company, increased significantly supported by the Government's supplementary budget. Sales of AEDs increased favorably thanks to orders received for replacement. Sales of defibrillators, pacemakers and ICDs decreased. Internationally, the ventilator business has grown to a certain scale as demand for ventilators remained solid in all regions. Demand for defibrillators also increased from institutions preparing to care for increased numbers of critically ill patients. Sales of AEDs decreased due to weak demand.
  • Other Medical Equipment: In Japan, sales of locally purchased products and installation services for medical devices decreased significantly, compared to the 3rd quarter of FY2019 when large orders were received. Internationally, sales of hematology analyzers and reagents decreased in all regions due to weak demand and a decline in the amount of testing.
Sales by Product Category
millions of yen
  FY2019
3Q
(9 months)
FY2020
3Q
(9 months)
YoY
(%)
Physiological Measuring Equipment 30,002 25,973 -13.4
Patient Monitors 46,008 55,369 20.3
Treatment Equipment 24,019 30,528 27.1
Other Medical Equipment 29,494 25,175 -14.6
Total 129,525 137,046 5.8
(Reference)      
Products 67,720 75,010 10.8
Consumables and Services 61,804 62,036 0.4

Sales by Region

  • Japan: Sales decreased because medical institutions reduced the number of testing and surgical procedures, and postponed or froze the purchase budget for certain products such as Physiological Measuring Equipment. Sales in the university, public hospital and clinic markets decreased, while sales in the private hospital market increased. In the university and public hospital markets, there was also a reactionary decline compared to the 9 months of FY2019 when sales were strong due to large orders related to construction of new hospitals.
  • International: Sales in all regions achieved double-digit growth because demand for patient monitors, ventilators and defibrillators remained solid under the continuing spread of COVID-19. In the Americas, sales in the U.S. achieved double-digit growth. Sales in Latin America achieved double growth, mainly in Mexico and Colombia. In Europe, sales both in Western Europe and Eastern Europe showed strong growth, supported by double growth in Italy, the U.K. and Poland. Sales in Asia & Other regions also showed strong growth, thanks to large orders in Israel and Indonesia. Sales in China increased steadily as the impact of COVID-19 had ended.
Domestic Sales
Overseas Sales
millions of yen
  FY2019
3Q
(9 months)
FY2020
3Q
(9 months)
YoY
(%)
Domestic Sales 94,387 88,004 -6.8
Overseas Sales
(Overseas Sales Ratio)
35,137
(27.1%)
49,042
(35.8%)
39.6
 
Americas
17,927 24,131 34.6
Europe
5,980 10,451 74.8
Asia & Other
11,230 14,458 28.7
 * Effective FY2020, Asia and Other are reclassified as Asia & Other.