Print（PDF/140KB） Apr. 28, 2025 Finances

Notice Concerning Reversal of Allowance for Doubtful Accounts of Subsidiaries and Affiliates in Company’s Non-consolidated Financial Statements (Japanese GAAP)

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Toru Kimura) announced that on April 28, 2025, the Company will record a reversal of allowance for doubtful accounts of subsidiaries and affiliates in its non-consolidated financial statements (Japanese GAAP) for the fiscal year ended March 31, 2025 as described below. In addition, there will be no impact on consolidated profit or loss.

1. Details of Reversal of Allowance for Doubtful Accounts of Subsidiaries and Affiliates

The Company has reviewed the collectability of its receivables from its consolidated subsidiary Sumitomo Pharma UK Holdings, Ltd. and others, for which it had previously recorded a provision of allowance for doubtful accounts, based on the actual value of these receivables. The Company will record a reversal of allowance for doubtful accounts of 46,556 million yen as extraordinary income in its non-consolidated financial statements.

2. Impact on the Company’s Consolidated Profit or Loss

The above reversal of allowance for doubtful accounts of subsidiaries and affiliates will have no impact on consolidated profit or loss because it will be eliminated in the consolidated financial statements.