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May 29, 2017Print(PDF/49KB)Finances

Sumitomo Dainippon Pharma Announces Voluntary Adoption of International Financial Reporting Standards (IFRS)

Sumitomo Dainippon Pharma Co., Ltd. announced today that, in its meeting held on May 29, 2017, the Board of Directors decided to adopt voluntarily the International Financial Reporting Standards (IFRS) for consolidated financial statements from the end of the fiscal year ending March 31, 2018, in place of Japanese Generally Accepted Accounting Principles (J-GAAP) currently followed. The aims include improving the international comparability of the Group's financial statements in the capital markets and improving the business management within the Group by standardizing accounting treatment.

Planned disclosure schedule for IFRS voluntary adoption

Fiscal YearDisclosure ItemAccounting Standard
Ending March 31, 20181st quarter through 3rd quarterQuarterly summary of consolidated financial resultsJ-GAAP
Quarterly securities report
End of fiscal yearSummary of consolidated financial resultsIFRS
Consolidated financial statements
Annual securities report

(Reference)
Consolidated forecasts for the Fiscal Year Ending March 31, 2018 under IFRS (rough estimate)

(Billions of yen)

J-GAAP
(A)
IFRS(estimate)
(B)
Difference
(B-A)
Net Sales450.0450.00.0
Operating Income55.054.0(1.0)
Net Income attributable to owners of the parent36.034.0(2.0)