Mar. 30, 2022Print(PDF/103KB)Corporate
Notice of Establishment of Holding Company in China
Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, First Section of TSE) today announced that its Board of Directors resolved at a meeting held on February 28, 2022, to establish a holding company in China as a wholly owned subsidiary.
1. Objective of the establishment
The Company decided to establish a holding company, "Sumitomo Pharma (China) Co., Ltd." in China as a wholly owned subsidiary to manage and enhance our China business.
2. Outline of the subsidiary
(1) Company name: Sumitomo Pharma (China) Co., Ltd.
(2) Location: 7th Floor, Tower A, China Overseas International Center, Lane 838, South Huangpi Road, Huangpu District, Shanghai
(3) Representative: Yoshitaka Koketsu (Chairman of the Board)
(4) Function: Manage the Company's China business as a holding company
(5) Share capital: 30M US dollars
(6) Establishment: May 2022 (TBD)
(7) Ownership: 100% owned by the Company
(8) Fiscal year-end: December 31
(9) Number of employees: 15 (TBD)
3. Future outlook
The impact of the establishment of the holding company on the Company's consolidated financial results is minimal.