January 25, 2016
Change in Fiscal Year (closing date of business year)
In the meeting of the Board of Directors held today, January 25, 2016, it was resolved that the fiscal year (closing date of business year) of Kobayashi Pharmaceutical Co., Ltd. be changed as follows, subject to approval by the shareholders of the agenda item, "Partial Revision of the Articles of Association," in the general meeting of shareholders for the 98th business year to be held in the middle of June 2016.
Reason for the Change
To continue the growth of the international business of the Kobayashi Group in the future, it is essential for the parent company to adopt the same fiscal year used by its consolidated subsidiaries in the international market in order to globalize and improve the efficiency of its business management.
Fiscal Year after Change
Current fiscal year: April 1 to March 31 of the following year (closed on March 31) After change: January 1 to December 31 (closed on December 31)
As a transitional measure, the next fiscal year (99th business year of the Company) will be the nine months starting on April 1, 2016 and closing on December 31, 2016.
Forecasts of performance for the year ending December 31, 2016 (99th business year) will be announced in the Summary of Financial Statements for the Year ending March 31, 2016, which will be published in May 2016.