Sumitomo Pharma disputes Gotham City Research report, says claims “clearly inconsistent” with facts
Reuters2026/08/07 04:10- Sumitomo Pharma rebutted an Aug. 3 Gotham City Research report, calling key claims inconsistent with facts and warning of potential legal action.
- FY ended March 31, 2026 profit included a JPY 49 billion gain on selling part of its Asia business; described as properly recognized.
- Denied allegations that higher accounts receivable signaled channel stuffing or fictitious revenue; cited factoring differences and gross-vs-net presentation under IFRS.
- Explained JPY 164.5 billion dividends from Swiss unit: JPY 116.2 billion offset investment carrying value, JPY 48.3 billion booked as dividend income under Japanese GAAP.
- Stated the consolidated accounts were unaffected by the intra-group transactions; KPMG AZSA issued an unqualified audit opinion.
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