TOKYO, July 28, 2016 – At a meeting of its Board of Directors held today, Ajinomoto Co., Inc. (“Ajinomoto Co.”) resolved to voluntarily apply International Financial Reporting Standards (“IFRS”) instead of the Japanese Generally Accepted Accounting Principles (“Japanese GAAP”) it has used until now for its consolidated financial statements as well as its consolidated financial reports pursuant to the Companies Act of Japan.
The Ajinomoto Group made this decision to voluntarily apply IFRS in order to increase the international comparability of its financial information inside and outside the Group, and to enhance communication with its shareholders, investors and other stakeholders.
Ajinomoto Co. will apply IFRS to the consolidated financial statements in its securities report (yuka shoken hokokusho) from the fiscal year ending March 31, 2017. For the consolidated financial statements in its consolidated results for the fiscal year ending March 31, 2017, as well as its consolidated financial report for the fiscal year pursuant to the Companies Act of Japan, Ajinomoto Co. will apply Japanese GAAP as usual.
The accounting standards to be applied for each disclosure document toward the voluntary application of IFRS are as follows. Accounting Standards to Be Applied for Each Disclosure Document (Scheduled)
About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 27 countries and regions, Ajinomoto Co. had net sales of JPY 1,185.9 billion (USD 9.87 billion) in fiscal 2015. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
For further information, please contact:
Ajinomoto Co., Inc. Public Communications Department;
pr_info@ajinomoto.com
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