Sumitomo Dainippon Pharma Annual Report 2017

Inventories at March 31, 2017 and 2016 consisted of the following:4. INVENTORIESFinished goods and semi-nished goodsWork-in-processRaw materials and supplies Total¥ 54,9733,35710,477¥ 68,807¥ 48,1013,2078,281¥ 59,589$ 490,83029,97393,545$ 614,348Millions of yenThousands ofU.S. dollars201620172017Current assetsFixed assetsGoodwillCurrent liabilitiesLong-term liabilitiesNet assets acquiredAccrued amounts in payment for acquisitionCash and cash equivalent of Cynapsus and ToleroPayment for acquisitions¥ 1,184129,62819,841(8,522)(21,460)120,671(35,268)(1,054)¥ 84,349$ 10,5711,157,393177,152(76,089)(191,607)1,077,420(314,893)(9,411)$ 753,116Millions of yenThousands ofU.S. dollars1) Policies for using nancial instrumentsThe Group procures funds through bank loans and the issuance of corporate bonds. The funds are required for investment plans and other purposes in order to carry out business inside and outside of Japan. Temporary surplus funds are to be invested only in nancial instruments with low risk. Derivative transactions are used only to avoid the risks described below, and speculative transactions are not undertaken. 2) Details of nancial instruments and risks, policies and systems for risk managementIn order to reduce customer credit risk exposure of notes and accounts receivable, due dates and amounts of outstanding balances are monitored by each customer in accordance with the Company’s procedures for credit management. In addition, the Company periodically monitors the credit standing of major customers. Marketable securities and investment securities consist primarily of short-term nancial instruments such as Money Management Funds and stocks issued by the business partners. Stocks are exposed to risks associated with changes in market prices. The market values of the stocks and the nancial condition of the issuers of these stocks are regularly monitored. The Company regularly reviews holding status in consideration of relationships with the business partners. Trade notes and trade accounts payable are all due within one year. Some of these payables consist of notes and accounts payable that are denominated in foreign currencies due to the import of raw materials, and they are exposed to exchange rate uctuation risk. These risks, if signicant, are hedged using foreign exchange forward contracts. Loans payable and bonds are primarily for working capital and the last maturity date of the debt is two years from March 31, 2017. A portion of such debt is exposed to interest uctuation risks.Income taxes payable are mainly due within two months. Trade accounts payable, loans payable and bonds are exposed to liquidity risks. These risks are managed by preparing cash ow plans on a monthly basis. Derivative nancial instruments of the Group include foreign exchange forward contracts for the 5. FINANCIAL INSTRUMENTS76Sumitomo Dainippon Pharma Co., Ltd. Annual Report 2017

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