Print（PDF/168KB） Jan. 31, 2024 Finances

Posting of Business Structure Improvement Expenses

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, Prime Market of TSE) announced today that the posting of business structure improvement expenses for the third quarter of fiscal year ending March 31, 2024 (from April 1, 2023 to December 31, 2023), as follows.

1. About the Business Structure Improvement Expenses

In order to enhance profitability and strengthen the foundation of the North American business, the Sumitomo Pharma Group consolidated functions and human resources of its Group companies in the U.S., etc,. and posted a total of 20,497 million yen (143 million dollars) as business structure improvement expenses under selling, general and administrative expenses and R&D expenses.

2. Future Outlook

The above-mentioned business structure improvement expenses have been reflected in the “Summary of Consolidated Financial Results for the Third Quarter of the Year Ending March 31, 2024 [IFRS],” which was announced today. In addition, the impact of the above-mentioned business structure improvement expenses has already been factored into the revised financial forecasts announced today.