By Kosaku Narioka


Sysmex Corp. shares rose sharply Friday morning after the Japanese medical equipment maker posted a 38% rise in fiscal-year net profit and projected further earnings growth.

The shares were recently 13% higher at Y8,351 after rising as much as 14% earlier.

Sysmex said Thursday after the market's close that net profit climbed to 44.09 billion yen ($343.6 million) for the fiscal year ended March. Revenue increased 19% to Y363.78 billion as sales of reagents rose thanks partly to Covid-19 testing.

The company said sales of medical robotics instruments also grew in Japan.

Sysmex projected both revenue and net profit will increase 13% in the new fiscal year started in April.

The Topix subindex for electronics makers, which Sysmex belongs to, was recently 3.1% higher and the Nikkei Stock Average was up 2.5%.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

05-12-22 2243ET