UK Tax Strategy
Introduction to the tax strategy
Sysmex Group (the “Group”) hereby sets out its strategy for conducting its tax affairs andmanaging tax risk with regard to the tax matters of its UK subsidiaries. The tax strategy
and strategic tax objectives in this statement are tailored towards establishing a clear
approach to the various aspects of tax reporting and compliance for the UK operations ofthe Group. This statement applies to all direct and indirect tax and tax accounting
including reporting. This UK tax strategy has been published in compliance with paragraph16(2) of Schedule 19 of the UK Finance Act 2016 and is in respect of our financial year
ending 31 March 2024.
Sysmex Group considers the reinforcement of corporate governance as one of the mostimportant managerial topics and aims to maximize the overall corporate value of theGroup through enhancing management robustness and transparency, as well as
improving management speed and efficiency. The tax strategy and objectives set out
below build upon our corporate philosophy which determine the way we conduct ourselvesin our daily operations.
Tax Strategy statement
Approach to tax risk management and governance: The effective management of tax
risk ensures that we carry out our business in strict compliance with all relevant tax laws
and regulations, as well as in adherence to high ethical standards as expressed in theGroup’s “Core Behaviour”. In accordance, we have established our Group tax strategy inthe “Sysmex Group Global Compliance Code”, declaring our commitment to conduct
proper accounting and appropriate tax payments to heighten tax transparency.
Governance is discussed at board level, in particular reviews of internal or external audits,and upon changes and/or introduction of new tax processes and schemes. Externaladvisors have been appointed to seek further advice on important matters through theapplication of diligent professional care and judgement. Many internal controls in regards
to key tax processes and Group-wide policies have been implemented to ensurecompliance with tax laws and regulations applicable to jurisdictions both domestic andforeign, as well as international standards such as the OECD Guidelines. Tax issues areperiodically communicated to other business divisions, in order to communicate tax issues
that may have effect on business operations, as well as identify and capture any latent tax
risks.Exceptional transactions are discussed after the Director meeting or during monthend closings to ensure the correct treatment is applied, and any material issues are
escalated as appropriate to our Corporate Business Administration Division in Japan forconsultation and approval.

Attitude towards tax planning: We are committed to promote fair and transparent
transactions based on the principle of free competition with all our customers andbusiness partners and comply with all applicable legislation in all aspects of corporateactivities. Thus, all business transactions are undertaken in accordance with our “Code ofConduct”, which elements can clearly be considered in particular, integrity, honesty,openness and accountability. We make use of legislated tax incentives and exemptions
approved by external advisers to support the long-term development of our company, but
do not participate in any aggressive tax planning, or transactions which do not have acommercial purpose as their primary driver. Furthermore, in line with our Group standards,
we are committed to acting in line with both the letter and spirit of the law.
Level of risk in relation to taxation that we are prepared to accept: In relation to ourUK tax affairs, our appetite for tax risk is low and we only structure our affairs based on
sound commercial principles and in accordance to our ethical standards and relevant tax
legislation. Any aggressive tax planning is not considered and we do not engage in any
operations that would compromise our Group standards, business objectives, the Group’sreputation and the reputation of our wider stakeholders.
Approach towards dealings with HMRC: We seek to maintain an open and transparent
relationship with HMRC based on regular and open communication, fair negotiations,timely completion of its reporting obligations and payment of any taxes due. In situations
where tax law is unclear, we will seek relevant advice from external tax advisers, anddiscuss any issues upfront with HMRC. Should any disputes arise, we will maintain ourhonest and constructive manner with a view to achieving early agreement and resolution.