Print(PDF/138KB) Apr. 02, 2024 Finances

Sumitomo Pharma Announces Sale of Strategic Shareholdings

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 Company has decided to sell all of the shares of Roivant Sciences Ltd. held by the Company to Roivant Sciences Ltd., as described below.

1. Overview of sale of shares

(1) Shares sold: Common stock of Roivant Sciences Ltd. (NASDAQ, USA, 71,251,083 shares)
(2) Sale timing: First half of April 2024 (planned)
(3) Sale amount: Approximately 98 billion yen (estimated)
(4) Gain on sale of investment securities: Approximately 55 billion yen (non-consolidated financial results, estimated)
(5) Sale method: Negotiated transaction with Roivant Sciences Ltd.

2. Reason for sale

To improve asset efficiency by reviewing strategic shareholdings.

3. Financial impact on business performance

The Company will record the gain on the sale of investment securities associated with the sale of shares in its non-consolidated financial results (Japanese GAAP) for the first quarter of the fiscal year ending March 2025. As the Company has adopted International Financial Reporting Standards (IFRS), the sale of shares will have no impact on its consolidated financial results.

Inquiries from the Press