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Mitani Sangyo (8285) · RiskDropped

Decline in API demand as drug product manufacturers’ inventory build-up runs its course

First written in FY2017-Q1. 4 of 7 entries say "Restated". Latest entry: FY2019-Q1.

7entries
3years
0from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2017-Q1 – FY2017-Q3RestatedFY2018-Q2 – FY2019-Q12016: 220162017: 320172018: 22018
Same theme, other companies
Sales decline in multi-application products due to prolonged customer inventory adjustmentsA theme 7 companies write about · 7 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2020: 3 of 6 companies on the "Worse" side.

0 other companies' latest entry also says "Dropped".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2019-Q1DroppedAnnual report
    The business update for the quarter does not directly mention the impact of formulation manufacturers’ easing inventory build-up on API demand.
  2. FY2018-Q3RestatedAnnual report

    「Revenue declined due to the impact of formulation manufacturers’ easing inventory build-up for stable supply.」

    Formulation manufacturers’ easing inventory build-up continues to contribute to lower API manufacturing revenue.
  3. FY2018-Q2RestatedAnnual report

    「Revenue declined due in part to the impact of formulation manufacturers’ easing inventory build-up of existing products for stable supply.」

    For existing products, formulation manufacturers’ easing inventory build-up continues to contribute to lower API manufacturing revenue.
  4. FY2018-Q1SoftenedAnnual report

    「Although the impact of formulation manufacturers’ easing inventory build-up for stable supply remained to some extent,」

    The impact of formulation manufacturers’ easing inventory build-up remains, but is described as limited to “some extent.”
  5. FY2017-Q3RestatedAnnual report

    「Revenue declined as formulation manufacturers’ inventory build-up for stable supply remained subdued.」

    The easing of formulation manufacturers’ inventory build-up continues to weigh on API manufacturing revenue.
  6. FY2017-Q2RestatedAnnual report

    「Revenue declined as formulation manufacturers’ inventory build-up for stable supply subsided.」

    The easing of formulation manufacturers’ inventory build-up continues to reduce API demand and revenue.
  7. FY2017-Q1First statedAnnual report

    「Revenue declined as inventory build-ups by formulation manufacturers to ensure stable near-term supply ran their course.」

    Customers’ inventory build-up for stable supply has run its course, resulting in lower API manufacturing revenue.
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Decline in API demand as drug product manufacturers’ inventory build-up runs its course | MITANI SANGYO CO.,LTD. (8285) | Komori