Sony Financial Group Inc. [8729.T]
TOKYO, Mar 27 (Pulse News Wire) – Sony Financial Group Inc. (8729.T) announced today that its board of directors has resolved to adopt International Financial Reporting Standards (IFRS) as the applicable accounting standards for its consolidated financial statements beginning with the fiscal year ending March 2027.
Previously, the company had used Japanese accounting standards but had disclosed performance metrics based on IFRS for comparative purposes in international capital markets. The transition to IFRS reflects the company's commitment to enhancing comparability of financial information across global markets and providing management indicators aligned with its long-term strategic perspective. Effective from the fiscal year starting April 2026, Sony Financial Group will release interim reports and annual financial results according to IFRS standards.
Key milestones for the adoption include: - Interim reports for the first three quarters of the fiscal year ending March 2027 will adhere to IFRS. - Quarterly earnings releases and half-year reports for the same period will also follow IFRS guidelines. - The final quarterly earnings release and annual financial statements for the fiscal year ending March 2027 will be prepared under IFRS.
Additionally, preliminary forecasts for the fiscal year ending March 2027, included in the interim report for the fiscal year ending March 2026, will be presented using IFRS standards.
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