Japan Fair Trade Commission Inspection into Prescription Pharmaceutical Bids
First written in FY2020-Q3. 4 of 10 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2023-Q2.
Toho Holdings moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Materialised".
- FY2023-Q2MaterialisedAnnual report
「On 9 November 2021, our consolidated subsidiary 九州東邦株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals in the Kyushu area ordered by either the National Hospital Organization, an independent administrative agency, or the Japan Organization of Occupational Health and Safety. We estimated the amount of losses that may arise in the future from this matter and recorded ¥1,400 million as an extraordinary loss under Antimonopoly Act-related losses.」
We estimated the losses arising from the ongoing investigation into suspected Antimonopoly Act violations concerning 九州東邦's bids and recorded ¥1,400 million as an extraordinary loss under Antimonopoly Act-related losses. - FY2023-Q1RestatedAnnual report
「On 9 November 2021, our consolidated subsidiary 九州東邦株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals in the Kyushu region ordered by the National Hospital Organization (NHO), an independent administrative agency. The investigation is still ongoing.」
The on-site inspection and continuing investigation by the Japan Fair Trade Commission concerning 九州東邦's pharmaceutical bids were reconfirmed, and the amount of the impact remains impossible to reasonably estimate. - FY2022MaterialisedAnnual report
「In connection with violations of the Antimonopoly Act concerning bids for prescription pharmaceuticals ordered by the Japan Community Health care Organization (JCHO), an independent administrative agency, our consolidated subsidiary 東邦薬品株式会社 and one of our employees received sentences from the Tokyo District Court on 30 June 2021, consisting of a fine and a suspended prison sentence, respectively. In addition, on 30 March 2022, 東邦薬品株式会社 received a cease-and-desist order and an order to pay an administrative surcharge from the Japan Fair Trade Commission. On 9 November 2021, our consolidated subsidiary 九州東邦株式会社 was also subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals in the Kyushu area ordered by the headquarters of the National Hospital Organization, an independent administrative agency.」
The 東邦薬品 matter progressed from an on-site inspection and indictment to a fine, a cease-and-desist order and an order to pay an administrative surcharge, while 九州東邦 was also subject to a separate on-site inspection. - FY2022-Q3WorsenedAnnual report
「In addition, on 9 November 2021, our consolidated subsidiary 九州東邦株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for pharmaceuticals procured by hospitals located in the Kyushu area operated by either the National Hospital Organization, an independent administrative agency, or the Japan Organization of Occupational Health and Safety, with the headquarters of the National Hospital Organization as the ordering entity.」
In addition to the previous 東邦薬品・JCHO matter, 九州東邦 was also subject to an on-site inspection by the Japan Fair Trade Commission concerning pharmaceutical bids, broadening bidding-related legal risks within the Group. - FY2022-Q2WorsenedAnnual report
「In addition, on 9 November 2021, our consolidated subsidiary 九州東邦株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for pharmaceuticals procured by hospitals located in the Kyushu area operated by either the National Hospital Organization, an independent administrative agency, or the Japan Organization of Occupational Health and Safety, with the headquarters of the National Hospital Organization as the ordering entity.」
Separately from the previous 東邦薬品・JCHO matter, 九州東邦 was also subject to an on-site inspection by the Japan Fair Trade Commission concerning pharmaceutical bids, broadening the legal risks related to bidding. - FY2021-Q3WorsenedAnnual report
「However, on 9 December 2020, our consolidated subsidiary 東邦薬品株式会社 was criminally charged by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals in 2016 and 2018 ordered by the Japan Community Health care Organization (JCHO), an independent administrative agency, and was indicted by the Tokyo District Public Prosecutors Office. As a result, fines, administrative surcharges and contractual penalties may become payable in the future. In addition, customers such as local governments may restrict transactions with 東邦薬品株式会社 for a certain period, which may affect the results of our Group.」
The matter progressed from the previous on-site inspection and search to a criminal charge and indictment, newly indicating the possibility of payments of fines and other amounts, as well as transaction restrictions by customers. - FY2021-Q2WorsenedAnnual report
「Our consolidated subsidiary 東邦薬品株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on 27 November 2019 in connection with bids for prescription pharmaceuticals ordered by the Japan Community Health care Organization (JCHO), an independent administrative agency, on suspicion of violating the Antimonopoly Act. On 13 October 2020, it was also subject to a search by the Special Investigation Department of the Tokyo District Public Prosecutors Office, in addition to the Japan Fair Trade Commission. These developments may affect the consolidated results of our Group in the future, but it is currently difficult to reasonably estimate the amount of any such impact.」
In addition to the previous on-site inspection by the Japan Fair Trade Commission, a search by the Special Investigation Department of the Tokyo District Public Prosecutors Office was conducted, expanding the scope of the investigation and legal risks. While a possible impact on consolidated results has been indicated, the amount of the impact cannot be reasonably estimated. - FY2021-Q1MitigatedAnnual report
「We take seriously the fact that our consolidated subsidiary 東邦薬品株式会社 was subject to an on-site inspection by the Japan Fair Trade Commission on 27 November 2019 on suspicion of violating the Antimonopoly Act in connection with a tender for prescription drugs commissioned by the Japan Community Health care Organization (JCHO). We have worked to reinforce compliance and announced specific compliance-enhancement initiatives on 3 July 2020.」
The response describes reconfirming the fact that an on-site inspection was conducted, thoroughly reinforcing compliance, and announcing initiatives to strengthen compliance. - FY2020RestatedAnnual report
「On 27 November 2019, 東邦薬品株式会社, the company’s consolidated subsidiary, was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals for which the Japan Community Health care Organization (JCHO) was the ordering party.」
The company reconfirmed in its full-year report that it had been subject to an on-site inspection by the Japan Fair Trade Commission and that it would cooperate fully with the inspection. - FY2020-Q3First statedAnnual report
「On 27 November 2019, 東邦薬品株式会社, the company’s consolidated subsidiary, was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals for which the Japan Community Health care Organization (JCHO) was the ordering party. Together with 東邦薬品株式会社, the company takes this matter extremely seriously and is cooperating fully with the Japan Fair Trade Commission’s inspection.」
The company first disclosed that 東邦薬品 had been subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with bids for prescription pharmaceuticals ordered by JCHO. The company stated that it takes the matter extremely seriously and will cooperate fully with the inspection.