Securities Valuation Losses and Interest-Rate Risk
First written in FY2016. 12 of 20 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2026.
Mochida Pharmaceutical moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 12 of 22 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026Increase in valuation differencesAnnual report
「This was due to an increase in retained earnings from net income attributable to owners of the parent and an increase in the valuation difference on other securities resulting from the higher market value of investment securities.」
The valuation difference on other securities increased by ¥4,250 million, from ¥8,162 million to ¥12,412 million. - FY2026-H1Increase in valuation differencesAnnual report
「Net assets increased because, although retained earnings declined mainly due to dividend payments, retained earnings from interim net income attributable to owners of the parent and the valuation difference on other securities increased.」
The company states that during the interim consolidated accounting period, the valuation difference on other securities increased from ¥8,162 million at the end of the previous consolidated fiscal year to ¥10,310 million. - FY2025MaterialisedAnnual report
「Valuation difference on other securities 8,585 8,162」
Changes in the valuation of investment securities appeared as a ¥423 million decrease in the valuation difference on other securities. - FY2025-H1MaterialisedAnnual report
「In terms of profit, operating profit was ¥3,793 million, a year-on-year decline of 4.0%, due to an increase in the cost-of-sales ratio resulting from drug price revisions and higher import prices for active pharmaceutical ingredients and drug products caused by the weaker yen, among other factors.」
Higher import prices for active pharmaceutical ingredients and formulations caused by the weaker yen appeared in the results as a higher cost-of-sales ratio and a 4.0% year-on-year decline in operating income. - FY2024Increase in valuation differencesAnnual report
「Valuation difference on other securities 5,655 8,585」
The valuation difference on other securities increased by ¥2,930 million, from ¥5,655 million at the end of the previous consolidated fiscal year to ¥8,585 million. In FY2024, the increase in the market value of investment securities was cited as a factor behind the increase in net assets. - FY2024-Q3Increase in valuation differencesAnnual report
「Net assets increased primarily because, although the acquisition of treasury shares caused a decrease, retained earnings increased due to net income attributable to owners of the parent for the quarter, and valuation differences on available-for-sale securities increased as the market value of investment securities rose.」
The valuation difference on other securities increased by ¥2,126 million, from ¥5,655 million to ¥7,781 million, as the market value of investment securities rose. Although a valuation change occurred, no valuation loss was recognized in the quarter. - FY2024-Q2MaterialisedAnnual report
「Operating income was ¥3,952 million, a 25.1% year-on-year decrease, due to lower sales in the pharmaceuticals-related business and a decline in gross profit resulting mainly from higher import prices for active pharmaceutical ingredients and formulations caused by the weaker yen.」
The impact of foreign exchange fluctuations appeared in the results as higher import prices for active pharmaceutical ingredients and formulations caused by the weaker yen and a decline in gross profit. - FY2023MaterialisedAnnual report
「Valuation difference on other securities 7,308 5,655」
Changes in the valuation of investment securities appeared as a decrease in the valuation difference on other securities, which fell from ¥7,308 million at the end of the previous consolidated fiscal year to ¥5,655 million. - FY2023-Q3MaterialisedAnnual report
「Valuation difference on other securities △993」
Changes in the valuation of investment securities appeared as a decrease in the valuation difference on other securities, which stood at ¥6,315 million at the end of the third quarter, down from ¥7,308 million at the end of the previous consolidated fiscal year. - FY2022MaterialisedAnnual report
「Valuation difference on other securities 10,311 7,308」
The valuation difference on other securities decreased by ¥3,003 million, from ¥10,311 million at the end of the previous consolidated fiscal year to ¥7,308 million, with changes in the valuation of investment securities reflected in net assets. - FY2022-Q3MaterialisedAnnual report
「Valuation difference on other securities 10,311 7,068」
The valuation difference on other securities decreased by ¥3,243 million, from ¥10,311 million at the end of the previous consolidated fiscal year to ¥7,068 million at the end of the third quarter, with changes in the valuation of investment securities reflected in net assets. - FY2022-Q2MaterialisedAnnual report
「Valuation difference on other securities 10,311 9,310」
The valuation difference on other securities decreased by ¥1,001 million, from ¥10,311 million at the end of the previous consolidated fiscal year to ¥9,310 million at the end of the second quarter, with changes in the valuation of investment securities reflected in net assets. - FY2022-Q1MaterialisedAnnual report
「Valuation difference on other securities 10,311 10,129」
The valuation difference on other securities decreased by ¥182 million, from ¥10,311 million at the end of the previous consolidated fiscal year to ¥10,129 million at the end of the first quarter. Changes in the valuation of investment securities are reflected in net assets. - FY2021RestatedAnnual report
「Deterioration in financial markets may result in valuation losses or losses on sales of securities held by the group. Depending on interest rate trends, defined benefit obligations may also increase, potentially having a material impact on operating results and financial condition. In addition, foreign exchange fluctuations in foreign-currency transactions, including imports of products and raw materials, may materially affect operating results and financial condition.」
In addition to securities and interest rate fluctuation risks, the company has reconfirmed foreign exchange fluctuation risk in foreign-currency transactions and described responses including forward exchange contracts. - FY2020MaterialisedAnnual report
「Net assets decreased because, despite an increase in retained earnings mainly from net income attributable to owners of the parent, the valuation difference on other securities decreased as a result of share buybacks and a decline in the market value of investment securities.」
The valuation difference on other securities decreased by ¥3,753 million, from ¥11,277 million to ¥7,524 million, as the market value of investment securities fell. The current risk disclosure also adds foreign exchange fluctuation risk and responses using forward exchange contracts. - FY2020-Q3MaterialisedAnnual report
「Net assets increased because, although retained earnings declined mainly due to dividend payments and the valuation difference on other securities decreased as the market value of investment securities fell, retained earnings increased as a result of net income attributable to owners of the parent.」
The company states that the valuation difference on other securities decreased by ¥1,837 million, from ¥11,277 million to ¥9,440 million, as the market value of investment securities fell. - FY2020-Q2MaterialisedAnnual report
「Net assets increased because, although retained earnings declined mainly due to dividend payments and the valuation difference on other securities decreased as the market value of investment securities fell, retained earnings increased as a result of net income attributable to owners of the parent.」
The company states that the valuation difference on other securities decreased as the market value of investment securities fell. The valuation difference on other securities decreased by ¥2,327 million, from ¥11,277 million to ¥8,950 million. - FY2019RestatedAnnual report
「Deterioration in financial markets may result in valuation losses or losses on sales of securities held by the group. Depending on interest rate trends, defined benefit obligations may also increase, potentially having a material impact on operating results and financial condition.」
The risks of valuation losses on securities, losses on sales and increases in defined benefit obligations resulting from interest rate fluctuations have been reiterated. - FY2018RestatedAnnual report
「Deterioration in financial markets may result in valuation losses or losses on sales of securities held by the group. Depending on interest rate trends, defined benefit obligations may also increase, potentially having a material impact on operating results and financial condition.」
The risks of valuation losses on securities, losses on sales and increases in defined benefit obligations resulting from interest rate fluctuations have been reiterated. - FY2016First statedAnnual report
「Deterioration in financial markets may result in valuation losses or losses on sales of securities held by the group. Depending on interest rate trends, defined benefit obligations may also increase, potentially having a material impact on operating results and financial condition.」
The disclosure covers the impact on both financial assets and defined benefit obligations.