Business Impact of COVID-19 and Recovery
First written in FY2022-Q2. 6 of 9 entries say "Materialised", first in FY2023-Q1. Latest entry: FY2024.
PHC Holdings moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2022: 5 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2024SoftenedAnnual report
「During the period, COVID-19 subsided and the trend toward the normalization of economic activity continued.」
Although the impact of COVID-19 was described as having subsided, the decline in PCR testing volumes continued to affect full-year performance in the LSIM business, with the main business impact shifting from recovery to demand contraction. - FY2024-Q3MaterialisedAnnual report
「In the LSIM business's clinical testing operations, the number of routine tests increased, but revenue declined due to the decrease in PCR testing volumes accompanying the reclassification of COVID-19 from the equivalent of Category 2 to Category 5, among other factors, as well as delays in starting clinical trials and lower orders for nonclinical studies in the drug discovery support business.」
The decline in PCR testing volumes accompanying the transition to Category 5 and other factors continued and emerged in the current period as a factor behind the LSIM business's lower revenue. - FY2024-Q2MaterialisedAnnual report
「The decline in revenue in the LSIM business was mainly due to the decrease in PCR testing resulting from the reclassification of COVID-19 from the equivalent of Category 2 to Category 5 in clinical testing, among other factors.」
The decline in PCR testing volumes accompanying the change in disease classification continued and emerged in current-period performance as lower revenue in the LSIM business. - FY2024-Q1MaterialisedAnnual report
「In the LSIM business's clinical testing operations, revenue declined year on year. PCR testing volumes fell substantially following the reclassification of COVID-19 from the equivalent of Category 2 to Category 5 and the spread of rapid antigen test kits, while the recovery in the number of general patients remained marginal.」
The substantial decline in PCR testing volumes accompanying the change in the disease classification and spread of rapid test kits continued to be reflected in the LSIM business as lower revenue. - FY2023-Q3MaterialisedAnnual report
「In Healthcare Solutions, the number of COVID-19 PCR tests increased year on year due to the impact of the eighth wave of COVID-19, but revenue declined year on year after the segment was affected by lower prices resulting from a reduction in reimbursement for the tests.」
PCR testing volumes increased due to the eighth wave, while the impact of lower reimbursement on prices and the resulting revenue decline continued to be reflected in results. - FY2023-Q2MaterialisedAnnual report
「In Japan, the number of COVID-19 PCR tests increased year on year due to the impact of the seventh wave of COVID-19, but Healthcare Solutions reported lower revenue year on year after being affected by lower prices resulting from a reduction in reimbursement for the tests.」
PCR testing volumes increased due to the seventh wave, but Healthcare Solutions reported lower revenue because of the impact of lower reimbursement, and the effects related to COVID-19 continued to be reflected in performance. - FY2023-Q1MaterialisedAnnual report
「In Japan, in addition to the number of COVID-19 PCR tests trending down year on year as the sixth wave of COVID-19 that began at the end of the previous fiscal year subsided, Healthcare Solutions reported lower revenue year on year after being adversely affected by a reduction in the official price of the tests.」
After the sixth wave subsided, the decline in PCR testing volumes and the revenue decrease resulting from the reduction in official prices emerged as actual impacts on performance. - FY2022-Q3RestatedAnnual report
「Revenue increased substantially compared with the same period of the previous year, which was significantly affected by the spread of COVID-19.」
The disclosure continues to explain the recovery in performance, including the impact of COVID-19 in the same period of the previous year, recovery in demand for PCR testing and recovery in routine consultations. - FY2022-Q2First statedAnnual report
「During the period, Japan's state of emergency declaration due to the spread of COVID-19 remained in effect. Globally, however, vaccination progressed further, particularly in developed countries, restrictions such as lockdowns were lifted, and economic activity rapidly recovered. As a result, routine consultations and testing at hospitals recovered, and we stepped up sales activities despite ongoing constraints.」
After describing the severe impact of the spread of COVID-19 in the previous period, the disclosure notes the recovery in demand for consultations and testing accompanying vaccination and the recovery in economic activity.