Risk of Testing Delays and Sales Decline Due to COVID-19
First written in FY2020. 9 of 16 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2025.
Eiken Chemical moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).
The whole theme swung hardest in 2022: 5 of 8 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Revenue from Other (medical devices, genetic testing-related products, etc.) was ¥6,342 million, down 10.5% year on year, due to substantial declines in medical device sales, COVID-19 detection reagent sales and LAMP patent royalty income.」
The decline in COVID-19 detection reagent sales and LAMP patent royalty income that continued after the reclassification under the Infectious Diseases Control Law was also confirmed for the full year. - FY2024-Q3RestatedAnnual report
「Revenue for the cumulative third quarter of the current consolidated fiscal year was ¥30,493 million, down 9.9% year on year, as demand for genetic testing became limited following the reclassification of COVID-19 under the Infectious Diseases Control Law, resulting in a substantial decline in sales of LAMP-based COVID-19 genetic testing reagents.」
The limited demand for genetic testing and the decline in sales of COVID-19 genetic testing reagents continued after the reclassification under the Infectious Diseases Control Law, resulting in cumulative revenue down 9.9% year on year. - FY2024-Q2RestatedAnnual report
「Revenue for the cumulative second quarter of the current consolidated fiscal year was ¥20,264 million, down 11.4% year on year, as demand for genetic testing became limited following the reclassification of COVID-19 under the Infectious Diseases Control Law, resulting in a substantial decline in sales of LAMP-based COVID-19 genetic testing reagents.」
The limited demand for genetic testing following the reclassification under the Infectious Diseases Control Law and the decline in sales of COVID-19 genetic testing reagents continued through the cumulative second quarter. - FY2024-Q1MaterialisedAnnual report
「Revenue for the cumulative first quarter of the current consolidated fiscal year was ¥9,864 million, down 11.1% year on year, as demand for genetic testing became limited following the reclassification of COVID-19 under the Infectious Diseases Control Law, resulting in a substantial decline in sales of LAMP-based COVID-19 genetic testing reagents.」
Demand for genetic testing became limited following COVID-19's reclassification to Category 5, and the decline in sales of detection reagents is reflected in actual results. - FY2023MaterialisedAnnual report
「Net sales for the consolidated fiscal year were ¥43,271 million, up 0.6% year on year. Sales of COVID-19 genetic testing reagents using the LAMP method declined due to a sharp drop in new COVID-19 infections in the fourth quarter, but urine testing reagents and immunoserology reagents grew as various health examinations and screening programs resumed and outpatient numbers continued to recover.」
The decline in sales of LAMP-based detection reagents due to the sharp drop in new COVID-19 infections was disclosed as a factor affecting full-year results. - FY2023-Q3MaterialisedAnnual report
「Sales for the nine-month period ended December 2022 increased to ¥33,860 million, up 6.4% year on year, as demand for COVID-19 genetic testing reagents using the LAMP method continued amid the persistently high number of new infections in Japan during the eighth wave of COVID-19.」
The eighth wave of COVID-19 and the persistently high number of new infections actually continued, appearing in the business as sustained demand for LAMP-based detection reagents. - FY2023-Q2MaterialisedAnnual report
「By product category, sales of microbiology testing reagents declined to ¥1,946 million, down 0.7% year on year, as the decline in testing other than for COVID-19 continued.」
As the seventh wave of COVID-19 infections spread, the continued decline in non-COVID testing appeared as an actual decline in sales. - FY2023-Q1MitigatedAnnual report
「During the first quarter of the fiscal year, revenue increased as various health-check and screening programs resumed and outpatient numbers began to recover following the decline in COVID-19 cases. Sales grew domestically, mainly for the core fecal occult blood testing and urinalysis reagents, resulting in revenue of ¥11,097 million, up 5.5% year on year.」
The impact in Japan of screening suspensions and other factors that occurred in the previous fiscal year was partly mitigated by the resumption of health examinations and screening programs and the recovery in outpatient numbers as the number of infections declined. Overseas sales of fecal occult blood testing products, however, continued to decline. - FY2022MaterialisedAnnual report
「The global spread of COVID-19 stagnated economic and medical activity, and demand declined due to delays in colorectal cancer screening programs in various countries and regions, a decline in the number of tests performed at medical institutions, and other factors.」
Stated that delays in screening and a decline in the number of tests performed at medical institutions due to COVID-19, together with lower demand, had actually occurred. - FY2022-Q3WorsenedAnnual report
「During the nine-month period ended December 2021, the number of COVID-19 cases in Japan began to decline and economic and social activity moved toward normalization. Overseas, however, infections resurged due to the spread of new variants such as Omicron and an increase in breakthrough infections following vaccination, and it remained difficult to forecast when the situation would subside in each country.」
While conditions were normalizing in Japan, infections resurged overseas due to the spread of new variants and an increase in breakthrough infections, and uncertainty over when the situation would subside continued. - FY2022-Q2WorsenedAnnual report
「COVID-19 continued to have a major impact on socioeconomic activity during the six-month period ended September 2021. While various economic measures were introduced worldwide and vaccination rates increased, the risk of renewed outbreaks remained, due to the spread of new variants and an increase in breakthrough infections following vaccination, making it difficult to forecast when the situation would subside in each country.」
The spread of new variants and increase in breakthrough infections were cited, providing greater detail on the risk of renewed outbreaks and uncertainty over when the situation would subside. - FY2021MaterialisedAnnual report
「Despite the impact of the suspension of various health examinations and screening programs in various countries and the decline in outpatient numbers caused by the spread of COVID-19, sales of COVID-19 detection reagents and genetic testing instruments increased substantially, bringing net sales for the consolidated fiscal year to ¥38,667 million, up 5.7% year on year.」
The suspension of health examinations and screening programs and the decline in outpatient numbers actually occurred. Growth in detection reagents and genetic testing instruments drove total company net sales up 5.7% year on year. - FY2021-Q3MaterialisedAnnual report
「Overseas revenue increased for urinalysis reagents and analyzers, but sales of fecal occult blood testing reagents and analyzers declined as participation in national screening programs decreased or programs were suspended, resulting in revenue of ¥4,712 million, down 10.1% year on year.」
The decline in participation and suspensions of screening programs in various countries due to COVID-19 continued to appear as lower sales of fecal occult blood testing reagents and instruments. - FY2021-Q2MaterialisedAnnual report
「Sales for the six-month period ended September 2020 were ¥17,727 million, down 6.3% year on year. Sales of COVID-19 detection reagents increased substantially, but were affected by the suspension of various health examinations and screening programs and a decline in outpatient numbers associated with the spread of COVID-19.」
The suspension of health examinations and screening programs and the decline in outpatient numbers associated with the spread of COVID-19 continued. Despite growth in detection reagents, net sales declined 6.3% year on year. - FY2021-Q1MaterialisedAnnual report
「Sales for the three-month period ended June 2020 were ¥8,214 million, down 11.0% year on year, as sales of COVID-19 detection reagents and genetic testing instruments increased substantially but were offset by the suspension of various health examinations and a decline in outpatient numbers associated with the spread of COVID-19.」
The suspension of various health examinations and the decline in outpatient numbers associated with the spread of COVID-19 actually occurred, resulting in a year-on-year decline of 11.0% in net sales. - FY2020First statedAnnual report
「If the impact of the global spread of COVID-19 is prolonged and economic and medical activities stagnate, sales of our products may decline due to delays in screening tests in various countries and other factors.」
COVID-19 was first disclosed as an independent business risk. Although the spread of the infection was continuing, it was stated that its impact on the business during the consolidated fiscal year was limited.