Astellas will change the exchange rate used for elimination of unrealized profit on inventories from Q2 of the 2022 fiscal year ending March 31, 2023.

 When eliminating unrealized profit on inventories held by foreign group affiliates in our consolidation process, the amount of unrealized profit has until now been converted to the reporting currency at the current rate. The amount was deducted from the inventories as well as booked in the cost of sales. However, because the average rate is used to convert revenues and expenses of foreign group affiliates, this sometimes affected our consolidated results due to fluctuations in exchange rates.
 In consideration of recent rapid exchange rate fluctuations, for the purpose of financial reporting that more appropriately reflects the true situation of the business, we decided to change exchange rates used for elimination of unrealized profit from Q2 of the 2022 fiscal year ending March 31, 2023 as shown in the table below.

  Until Q1/FY2022 From Q2/FY2022
(Statement of Financial Position Item)
Current rate Current rate
Cost of sales
(Statements of Income Item)
Current rate Average rate


Revenues and expenses of foreign group affiliates
(Statements of Income Item)
Average rate Average rate

 As a result of the above, conversion differences between the current rate and the average rate for that period were previously recognized in cost of sales in the Consolidated Statement of Income, however, it will be recognized in equity through other comprehensive income going forward.
 This change does not represent a change in accounting policy, we will not restate our historical consolidated financial statements.


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