Jun. 29, 2022Print(PDF/146KB)Corporate
(Update on Disclosed Matter) Notice of Establishment of Holding Company in China
Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, Prime Market of TSE) today announced that the procedure for establishing the holding company in China, announced on March 30, 2022, has been completed. The changes from the previous announcement are underlined below.
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
- General management
- Shared service
- Cash pool
(5) Share capital: 30M US dollars
(6) Establishment: June 2022
(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.