Sumitomo Chemical Company, Limited
About Our Group Report (Additional Explanation Regarding “Sumitomo Chemical and Sumitomo Pharmaceutical: The ¥116 Billion Swiss Shuffle”)
Publication of additional explanations on the GCR report. Clarifies the breakdown of consolidated results for the fiscal year ending March 2026, background of accounts receivable increases, and dividend treatment in individual financial statements, correcting points of discrepancy with facts.
Key Figures
- 1) Total dividends (SMPS): 1,645 hundred million yen
- 2) Book value reduction of SMPS shares: 1,162 hundred million yen
- 3) Recognized as dividend income: 483 hundred million yen
AI要約
Overview
This additional explanation consolidates and publishes the views of Sumitomo Pharma and the group in response to the claims in Gotham City Research LLC's August 3 report. It presents concrete grounds to counter the asserted points regarding factors boosting profit for the fiscal year ending March 2026, suspicions of improper revenue recognition due to increases in accounts receivable, the legitimacy of dividend treatment in individual financial statements, and the financial reporting process.
Impact and Future
While considering appropriate responses including potential legal action regarding the GCR report, we emphasize maintaining the reliability and transparency of financial reporting. For consolidation and individual accounting treatments, we explain their appropriateness under IFRS/Japanese standards and commit to ongoing timely and appropriate disclosure.
Sumitomo Chemical Company, Limited
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