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ONO PHARMACEUTICAL CO., LTD. : Voluntary adoption of International Financial Reporting Standards (IFRS)(64.9KB)

05/13/2013 | 07:15am US/Eastern
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May 13, 2013
ONO PHARMACEUTICAL CO., LTD. Corporate Communications
TEL: +81-6-6263-5670

Voluntary adoption of International Financial Reporting Standards (IFRS)

Ono Pharmaceutical Co., Ltd. (Chuo-ku, Osaka, President: Gyo Sagara) resolved at the meeting of Board of Directors held today that IFRS is to be adopted to its group's consolidated financial reports and consolidated calculation documents ending on March 31st, 2014. Its financial reports and documents used to be based on Japan Generally Accepted Accounting Principles (Japan GAAP).
Our group has been facilitating business development such as research and development and licensing activities globally in the U.S.A, Europe and Asian regions as well as in Japan. Additionally foreign investors account for about 30 % of the total shareholders as of March 31st,
2013, which has shown large proportion of foreign investors from the past. With these situations considered, we have decided to voluntarily adopt IFRS to disclose financial information based on international standards, improve comparability and enhance convenience of stakeholders
including shareholders, investors and business partners.
Ref: <Schedule of disclosure of financial information in association with the change of accounting standards>

May 2013

Flash Report and consolidated calculation document ending on

March 31st, 2013

Japan GAAP

June 2013

Annual Report ending on March 31st, 2013

Japan GAAP

Financial information on 1Q to 3Q ending on March 31st, 2014

Japan GAAP

May 2014

Flash Report and consolidated calculation document ending on

March 31st, 2014

IFRS

June 2014

Annual Report ending on March 31st, 2014

IFRS

Consolidated Financial Forecast in Fiscal Year ended March 31, 2014 (FY2013) under IFRS

Table below shows trial IFRS calculation of the consolidated forecast for the fiscal year ending March 31, 2014, disclosed today.

(Billion JPY)

IFRS (1)

J-GAAP (2)

Difference ((1) - (2))

Net sales

146.3

148.3

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