Sumitomo Pharma rebuts Gotham City Research report on alleged ¥116.2 billion “Swiss Shuffle”

Reuters2026/08/07 04:43

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Sumitomo Pharma issued additional rebuttals to an Aug. 3 Gotham City Research report alleging earnings inflation tied to a “¥116 billion Swiss Shuffle.”
It defended FY ended March 31, 2026 results, citing a properly booked JPY 49 billion gain on a partial transfer of its Asia business.
It rejected claims that higher receivables signaled channel stuffing, citing factoring differences, gross-vs-net presentation, IFRS held-for-sale reclassification effects.
It detailed JPY 164.5 billion dividends from Sumitomo Pharma Switzerland, booked as JPY 48.3 billion income, JPY 116.2 billion investment reduction under Japanese GAAP.
It said KPMG AZSA issued unqualified audit opinions; it signaled potential legal action over inaccurate or misleading information.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sumitomo Chemical Co. Ltd. published the original content used to generate this news brief on August 07, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Sumitomo Pharma rebuts Gotham City Research report on alleged ¥116.2 billion “Swiss Shuffle”

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