Impact of higher consumption tax rates on pharmacy services and other businesses
First written in FY2017. 2 of 4 entries say "Restated". Latest entry: FY2021-Q2.
TOKAI Corp. moved to the "Worse" side of this theme in 2020.
7 other companies' latest entry also says "Restated".
- FY2021-Q2RestatedAnnual report
「In terms of profit, profit declined year on year due to lower revenue, higher labor costs and the impact of the consumption tax increase in October 2019, among other factors.」
The impact of the consumption tax increase continues to appear in the performance discussion as a factor behind lower profit from pharmacy services. Operating income from pharmacy services declined 16.4% year on year. - FY2021-Q1MaterialisedAnnual report
「In terms of profit, profit declined year on year due to lower technical fee revenue, higher labor costs and the impact of the consumption tax increase in October 2019, among other factors.」
The impact of higher consumption tax rates, previously disclosed as a risk, has emerged in the actual performance discussion as a factor behind lower profit from pharmacy services. Operating income from pharmacy services declined 58.3% year on year. - FY2018RestatedAnnual report
「Higher consumption tax rates are expected to affect all of the Group's businesses to some extent. In particular, in the pharmacy business, pharmacy sales are non-taxable while purchases of pharmaceuticals and other items are taxable, so higher consumption tax rates could affect the performance of Pharmacy Services.」
Given the structure in which pharmacy sales are tax-exempt while pharmaceutical purchases are taxable, the company has restated the risk that higher consumption tax rates could affect business performance. - FY2017First statedAnnual report
「Higher consumption tax rates are expected to affect all of the Group's businesses to some extent. In particular, in the pharmacy business, pharmacy sales are non-taxable while purchases of pharmaceuticals and other items are taxable, so higher consumption tax rates could affect the performance of Pharmacy Services.」
Given the structure in which pharmacy sales are tax-exempt while pharmaceutical purchases are taxable, the company has disclosed the impact of higher consumption tax rates on business performance as a new risk.