Sumitomo Pharma Co., Ltd.
Notice about Sumitomo Pharma: Viewpoints on GCR Report and Consolidated Financial Information整理
Publicizing our views and rebuttal to GCR's August 3 report. For the fiscal year ending March 2026, profits are properly recognized including gains on Asia business stake divestiture; increase in accounts receivable is a reasonable factor due to differences in factoring status, revenue recognition standards, and impact of Asia business divestiture; individual financial statements' dividend treatment aligns with consolidated accounts. Audit opinion remains unqualified.
Key Figures
- 49.0 billion yen: Gain on sale of Asia business stake
- 164.5 billion yen: Total dividends from SMPS
- 109.5 billion yen: Decrease in related-party shares (reflecting in individual financial statements)
AI要約
Reliability of financial reporting and background of disclosures
In response to GCR's claims, we reaffirm our policy to maintain the reliability and transparency of financial reporting. We may take appropriate actions including legal measures. Transactions within key group entities and organizational reorganizations have followed prescribed approval processes, and financial reporting has obtained an unqualified opinion from external auditors.
Key points of the main criticisms and our views
1) For the profit for the year ending March 2026, we properly recognize the gain on stake divestiture of 49 billion yen. 2) The increase in accounts receivable is due to reasonable factors such as presence/absence of factoring, differences in revenue recognition criteria, and the impact of Asia business divestiture, and does not indicate inappropriate revenue recognition. 3) The discrepancy pointed out regarding dividends from SMPS is not inconsistent due to consolidation elimination and alignment of accounting treatment. 4) The accounting audit framework and the auditor's opinion are unqualified.
Sumitomo Pharma Co., Ltd.
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