Biosensors

Biosensors: Nomura reiterates Buy with TP $1.84, in anticipation of 1QFY13 results due 25 Jul. Forecasts net profit of US$31m, +30% yoy, on revenue growth of 59% yoy. Believes the results will reflect on going royalty income from Terumo and the consolidation of results from JWMS. Says the inventory write downs seen in 3Q and 4QFY12 will likely no recur in the 1Q13 results. Also sees better numbers from China given that the expected price cuts have not materialized while volumes are expected to remain strong.