Weak Orders in Emerging Markets Due to Inventory Adjustments by Large Overseas Customers
First written in FY2017-Q1. 8 of 17 entries say "Materialised", first in FY2017-Q3. Latest entry: 2026-07-15.
Mani moved to the "Worse" side of this theme in 2017, 7 years before the typical company in this theme (2024).
The whole theme swung hardest in 2020: 3 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Restated".
- 2026-07-15RestatedEarnings
「In China, however, sales remained weak due to continued changes in market conditions resulting from healthcare policies and the impact of inventory adjustments at distributors.」
Weak Chinese sales due to healthcare policies and distributor inventory adjustments have continued. - FY2026-H1RestatedAnnual report
「As inventory adjustments at distributors in China continued under the impact of restrictions on the number of surgeries resulting from China’s healthcare spending policies, both net sales and segment profit posted modest growth.」
The company states that inventory adjustments at Chinese distributors have continued under the impact of restrictions on the number of surgeries resulting from healthcare spending policies. - FY2025MitigatedAnnual report
「Guoke Hengyuan (Beijing) Medical Technology Co., Ltd. 3,939 13.8／2,266 7.6」
Sales to the major customer were ¥2,266 million, accounting for 7.6% of total sales, down from 13.8% in the previous fiscal year. - FY2024WorsenedAnnual report
「Guoke Hengyuan (Beijing) Medical Technology Co., Ltd. 3,939 13.8」
Sales to the major customer were ¥3,939 million, accounting for 13.8% of total sales, up from 13.3% in the previous fiscal year. - FY2021-Q2RestatedAnnual report
「Due to restrictions on surgeries at hospitals resulting from COVID-19 and the impact of inventory adjustments by major overseas customers, net sales were ¥2,441 million, down 12.7% year on year.」
Inventory adjustments by major overseas customers coincided with restrictions on surgeries due to COVID-19 and continued to be reflected in results as a decline in sales of products related to atraumatic needles. - FY2021-Q1MaterialisedAnnual report
「Due to restrictions on surgeries at hospitals resulting from COVID-19 and the impact of inventory adjustments by major overseas customers, net sales were ¥1,158 million, down 18.7% year on year.」
Inventory adjustments by major overseas customers coincided with restrictions on surgeries due to COVID-19 and continued to be reflected in results as an 18.7% decline in sales of products related to atraumatic needles. - FY2020WorsenedAnnual report
「In addition to the continuing effects of inventory adjustments at a major European customer since the previous fiscal year, surgeries at hospitals were temporarily restricted because of COVID-19. As sales, particularly in China, remained weak, revenue was ¥4,374 million, down 24.0% year on year.」
Continuing inventory adjustments by major overseas customers, together with restrictions on surgeries due to COVID-19, resulted in a 24.0% decline in full-year sales of products related to atraumatic needles. - FY2020-Q3MaterialisedAnnual report
「In addition to restrictions on the number of surgeries performed at hospitals due to the impact of COVID-19, inventory adjustments by some major overseas customers also affected results, and net sales were ¥3,438 million, down 22.3% year on year.」
The company states that inventory adjustments by major overseas customers continued to affect orders and sales, while restrictions on surgeries due to COVID-19 also contributed to a 22.3% year-on-year decline in sales of products related to atraumatic needles. - FY2020-Q2MaterialisedAnnual report
「As orders remained sluggish due to the continuing impact of inventory adjustments by major overseas customers since the previous consolidated fiscal year, net sales were ¥2,436 million, down 19.3% year on year.」
Continuing inventory adjustments by major overseas customers are reflected in results as weak orders and a 19.3% decline in sales of products related to atraumatic needles. - FY2020-Q1MaterialisedAnnual report
「As orders remained sluggish due to the continuing impact of inventory adjustments by major overseas customers since the previous consolidated fiscal year, net sales were ¥1,237 million, down 21.1% year on year.」
Continuing inventory adjustments by major overseas customers are reflected in results as weak orders and a 21.1% decline in sales of products related to atraumatic needles. - FY2019-Q3MaterialisedAnnual report
「As the company established a structure to increase production at the second Fuheng plant, sales to Asia remained strong, although inventory adjustments by some major overseas customers also had an impact,」
Inventory adjustments by major overseas customers again emerged in results as a factor affecting sales of products related to atraumatic needles. - FY2019-Q2MitigatedAnnual report
「As the company established a structure to increase production at the second Fuheng plant, sales to major overseas customers remained strong, resulting in net sales of ¥3,017 million, up 12.0% year on year.」
The company states that sales to major overseas customers, whose inventory adjustments and lower orders had affected performance in the past, remained strong during the quarter. - FY2018-Q3MaterialisedAnnual report
「Although lower orders from major North American customers had an impact,」
The company again states that lower orders from major North American customers affected the performance of Surgical-related products. Meanwhile, strong sales of ophthalmic knives in Japan, China, and Russia resulted in higher sales and higher profit for the segment as a whole. - FY2018-Q2MaterialisedAnnual report
「Although lower orders from major North American customers had an impact,」
Regarding order volatility risk associated with major customers, the company states that, separately from the previous inventory adjustments in emerging markets, lower orders from major North American customers actually affected the performance of Surgical-related products. - FY2018-Q1MitigatedAnnual report
「As sales to major overseas customers remained strong, net sales were ¥1,166 million, up 18.0% year on year.」
The company states that sales to the major overseas customers whose weak orders contributed to the previous period’s performance remained strong during the quarter. - FY2017-Q3MaterialisedAnnual report
「Although customer inventory adjustments had an impact, sales to North America remained strong, resulting in」
The company states that customer inventory adjustments affected the performance of products related to atraumatic needles, indicating that inventory-adjustment risk continues to be reflected in results. - FY2017-Q1First statedAnnual report
「As orders in emerging markets remained sluggish due to inventory adjustments and other factors affecting major overseas customers, net sales were ¥988 million, down 9.6% year on year.」
The company identifies inventory adjustments by major overseas customers as a new individual factor that actually resulted in weak orders in emerging markets and lower net sales.