For Immediate Release
Company Name: DAIICHI SANKYO COMPANY, LIMITED
Representative: Takashi Shoda, President and Representative Director
(Code Number: 4568, First Section, Tokyo, Osaka, Nagoya Stock Exchanges)
Please address inquiries to Toshiaki Sai, General Manager,
Corporate Communications Department
Telephone: +81-3-6225-1126
http://www.daiichisankyo.com/
Partial Correction to Consolidated Financial Results for the Fiscal Year Ended March 31, 2009 (Correction of Figures)
Tokyo, May 28, 2009 - Daiichi Sankyo Company, Limited (hereinafter "the Company") today announces it has made partial corrections to the content of "Consolidated Financial Results for the Fiscal Year Ended March 31, 2009," announced on May 12, 2009. Due to the numerous corrections, the parts that have been corrected are shown by underlined text in the appended "Consolidated Financial Results for the Fiscal Year Ended March 31, 2009," which is the corrected version.
No changes have been made to the forecasts of the consolidated financial results for the first half and the full-year of fiscal year ending March 31, 2010, as well as dividend per share forecast for the same periods.
Reason for correction - The Company originally found it difficult for a ¥402,420 million component recorded in loss on valuation of stocks of subsidiaries and affiliates under extraordinary losses in the non-consolidated financial statements of the Company to be treated as a loss for tax purposes and as a result, this amount was treated as not deductable for tax purposes. However, following the "Q&A concerning loss on valuation of listed securities" issued by the National Tax Agency on April 3 this year, which clarified concrete criteria etc. for judgment periods concerning the recoverability of stock prices, the Company began re-examination to determine the appropriate accounting. Because this accounting treatment had a big impact on profit, the Company undertook a rigorous examination of the accounting treatment, including confirmation from external experts.
As a result of this examination, it was deemed appropriate for the said amount to be treated as a loss for tax purposes and corrections were made to figures in the consolidated financial statements, non-consolidated financial statements and related performance indices in the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2009."
Overview of corrections
*the parts that have been corrected are shown by underlined text in the appended "Consolidated Financial Results for the Fiscal Year Ended March 31, 2009,"
20090528_attachment_Partial Correction to Consolidated Financial Results
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