Impairment of Property, Plant and Equipment Due to Declining Pharmaceutical Business Profitability
First written in FY2020-Q2. 4 of 4 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2026-H1.
Seikagaku moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 51 of 96 companies on the "Worse" side.
67 other companies' latest entry also says "Materialised".
- FY2026-H1MaterialisedAnnual report
「Following a review of its manufacturing structure, the group determined that some manufacturing equipment under construction could not readily be used for its original purpose. It therefore reduced the carrying amount to the recoverable amount and recorded an impairment loss of ¥169 million as an extraordinary loss.」
The company recorded an impairment loss of ¥169 million on manufacturing facilities under construction in Canada for the pharmaceutical business because their use for the originally intended purpose had become difficult. - FY2020MaterialisedAnnual report
「As a decline in future profitability was expected for fixed assets related to the pharmaceutical business, the carrying amount of the fixed assets was reduced to the recoverable amount, and the resulting decrease of ¥13,524 million was recorded as an impairment loss under extraordinary losses.」
In response to lower profitability in the pharmaceutical business, the company recorded an impairment loss of ¥13,524 million for the full fiscal year, resulting in a net loss of ¥10,839 million. - FY2020-Q3MaterialisedAnnual report
「As a decline in future profitability was expected for fixed assets related to the pharmaceutical business, the carrying amount of the fixed assets was reduced to the recoverable amount, and the resulting decrease of ¥12,441 million was recorded as an impairment loss under extraordinary losses.」
The company recorded an impairment loss of ¥12,441 million on fixed assets of the pharmaceutical business in the cumulative third quarter, resulting in a quarterly net loss of ¥9,781 million. - FY2020-Q2MaterialisedAnnual report
「As lower profitability was identified for fixed assets related to the pharmaceutical business, their carrying amount was reduced to the recoverable amount in accordance with the Accounting Standard for Impairment of Fixed Assets. The resulting impairment loss of ¥12,304 million was recorded as an extraordinary loss.」
The company recorded an impairment loss of ¥12,304 million on fixed assets due to lower expected future profitability of the pharmaceutical business. It also stated in the Business and Other Risks section that there were no new risks and no material changes to the risks described in the previous fiscal year.