Print（PDF/132KB） Jan. 31, 2024 Finances

Notice Concerning Finance Income

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 it recorded finance income for the third quarter of the fiscal year ending March 31, 2024 (from April 1, 2023 to December 31, 2023) as follows.

1. Details of Finance Income

The Company recorded a foreign exchange gain of 12,394 million yen under finance income for the nine months ended December 31, 2023 due to recent fluctuations in foreign exchange rates. This was due to the foreign exchange gains resulting from the valuation of foreign currency-denominated assets held by the Company, while overseas subsidiaries incurred foreign exchange losses due to the valuation of foreign currency-denominated liabilities. In the consolidated financial statements, these amounts are presented net, resulting in the recording of foreign exchange gains.
In addition, foreign exchange loss of 17,739 million yen was recorded in the three months ended December 31, 2023, because financial income (foreign exchange gain) of 30,133 million yen was recorded in the six months ended September 30, 2023.

2. Future Outlook

Regarding the impact of the above finance income on the results of the Company operations, please refer to the “Summary of Consolidated Financial Results for the Third Quarter of the Year Ending March 31, 2024 [IFRS]” announced today. In addition, although the amount of foreign exchange gains will fluctuate due to future exchange rates, the Company has factored a certain amount of foreign exchange gains into the revised financial forecasts announced today.