Sumitomo Dainippon Pharma Annual Report 2017
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o. Use of EstimatesThe preparation of the consolidated nancial statements in conformity with accounting principles generally accepted in Japan requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.p. Changes in Accounting PoliciesThe Company and its domestic subsidiaries have applied the “Guidance on Recoverability of Deferred Tax Assets” (ASBJ Guidance No.26, March 28, 2016 (hereinafter, “Guidance No.26”).) from the beginning of the current scal year and revised a part of the accounting treatment regarding judgment of recoverability of deferred tax assets. With regard to the application, in accordance with the provisions on transitional implementation indicated in Paragraph 49 (4) of Guidance No.26, the differences between the amount of deferred tax assets and deferred tax liabilities when Paragraph 49 (3) 1 to 3 of Guidance No.26 are applied at the beginning of the current scal year, and the amount of deferred tax assets and deferred tax liabilities at the end of the previous scal year have been added to or subtracted from retained earnings and accumulated other comprehensive income (loss) at the beginning of the current scal year. As a result, at the beginning of the current scal year, deferred tax assets (in “Investments and other assets”) increased by 194 million yen, retained earnings increased by 386 million yen and unrealized gains on available-for-sale securities decreased by 192 million yen. Reecting these impacts on net assets at the beginning of the current scal year, retained earnings increased by 386 million yen and unrealized gains on available-for-sale securities decreased by 192 million yen.q. ReclassicationsCertain reclassications of the nancial statements and accompanying footnotes for the year ended March 2016 have been made to conform to the presentation for the year ended March 31, 2017.1) Cash and cash equivalentsCash and cash equivalents as at March 31, 2017 and 2016 for purposes of the consolidated statements of cash ows consisted of the following:As at March 31, 2016, a time deposit of ¥386 million was pledged as collateral for a letter of credit issued by a bank.2) Signicant non-cash transactionsAs a result of the acquisitions of Cynapsus Therapeutics Inc. dated October 21, 2016 and Tolero Pharmaceuticals, Inc. dated January 25, 2017, the Group increased assets and liabilities in the amount of ¥ 150,653 million ($1,345,116 thousand) and ¥ 29,982 million ($267,696 thousand), respectively. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the end of acquisitions and payments for acquisition of Cynapsus and Tolero, net of cash acquired, respectively.3. SUPPLEMENTARY CASH FLOW INFORMATION¥ 54,923(386)81,039¥ 135,576Cash and time depositsTime deposits with maturities over three monthsMarketable securities with a maturity ofthree months or less when purchasedCash and cash equivalents¥ 71,409–34,195¥ 105,604$ 637,580–305,313$ 942,893Notes to Consolidated Financial StatementsSumitomo Dainippon Pharma Co., Ltd. and Consolidated SubsidiariesYears Ended March 31, 2017 and 2016Financial SectionMillions of yenThousands ofU.S. dollars201620172017Sumitomo Dainippon Pharma Co., Ltd. Annual Report 201775

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