SanBio : Notice on the recording of other comprehensive income, non-operating income, and non-operating expenses
December 15, 2021 at 02:09 am EST
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December 15, 2021
Company name:
SanBio Co., Ltd.
Representative:
Keita Mori, Representative Director
and President
(TSE Mothers Code: 4592)
Contact:
Yoshihiro Kakutani, Corporate Officer
of Management Administration
(TEL. +81-3-6264-3481)
Notice on the recording of other comprehensive income,
non-operating income, and non-operating expenses
SanBio Company Limited (hereafter, "the Company") hereby announces the recording of other comprehensive income (foreign currency translation adjustment), non-operating income (foreign exchange gains), and non- operating expenses (interest expenses) in the first nine month of the fiscal year ending January 2022 (February 1, 2021-October 31, 2021).
Overview of other comprehensive income (foreign currency translation adjustment), non-operating income (foreign exchange gains), and non-operating expenses (interest expenses)
In the first nine month of the fiscal year ending January 2022, the Company recorded foreign exchange gains of 1,615 million yen as non-operating income due to fluctuations in exchange rates. The foreign exchange gains mainly came from foreign currency denominated loans to the Company's consolidated subsidiary. Meanwhile, due to the same exchange rate fluctuations, the Company booked foreign currency translation adjustment loss of 1,419 million yen when translating the results of the consolidated subsidiary into the Company's reporting currency (Japanese yen) under other comprehensive income.
Further, the Company booked interest expenses of 35 million yen for bank borrowings as non-operating expenses.
Impact on earnings performance
This development is expected to have only a marginal impact on consolidated earnings performance for the fiscal year ending January 2022.
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SanBio Co. Ltd. published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 07:08:03 UTC.
SanBio Co Ltd is engaged in the regenerative cell business using allogeneic stem cells. The Company has the research and development base in the United States and conducts research, development, manufacture and sale of regenerative cell medicines in Japan. The Company aims to sell therapeutic agents for diseases with high unmet medical needs, mainly in diseases of the central nervous system. It is involved in the manufacture, development, non-clinical studies, clinical trials of technologies introduced from research institutes such as universities. The Company has five regenerative cell drugs, including the main product candidate SB623 (nerve regenerative cells), SB618 (function-enhancing type & Mesenchymal stem cells), SB308 (muscle stem cells), MSC1 (mesenchymal stem cells), and MSC2 (mesenchymal stem cells).