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    3491   JP3386670008

GA TECHNOLOGIES CO., LTD.

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GA technologies : Notice on Voluntary Adoption of International Financial Reporting Standards (IFRS)

12/15/2021 | 01:29am EDT

December 15, 2021

Press Release

Company name: GA technologies Co., Ltd.

Representative:

Ryo Higuchi,

President and Chief Executive Officer

(Code No.: 3491, Tokyo Stock Exchange Mothers)

Inquiries:

Satoshi Matsukawa,

Executive Officer and Chief Accounting Officer

(Telephone: +81-3-6230-9180)

Notice on Voluntary Adoption of International Financial Reporting Standards

(IFRS)

GA technologies Co., Ltd. ("the Company") resolved at a Board of Directors meeting on December 15, 2021, to voluntarily adopt the International Financial Reporting Standards (IFRS) in place of the generally accepted accounting principles (GAAP) in Japan. This change will take effect from the first quarter of the fiscal year ending (October 31, 2022), as outlined below.

1. Reasons for switching to IFRS

The Company has decided to voluntarily adopt IFRS mainly for the following reasons.

  1. It will make it easier to explain our financial statements to overseas investors, enabling more efficient financing
  2. It will be easier to compare our performance with similar companies globally.
  3. By applying IFRS to all our Group companies worldwide, they can all use the same performance indicators, making business management more efficient.

2. Planned public reporting schedule with voluntary adoption of IFRS

Fiscal Year

Reporting Material

Applicable accounting

standards

Financial statements

FY2021

Yearend

Consolidated financial statements

Japanese standards

Securities report

First quarter to

Quarterly financial report

FY2022

Third quarter

Quarterly report

IFRS

Financial statements

Yearend

Consolidated financial statements

Securities report

* The consolidated earnings forecast for the fiscal year ending October 31, 2022, will be prepared using IFRS.

1

Disclaimer

GA Technologies 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 06:28:13 UTC.


© Publicnow 2021
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Sales 2022 116 B 913 M 913 M
Net income 2022 -283 M -2,22 M -2,22 M
Net Debt 2022 - - -
P/E ratio 2022 -115x
Yield 2022 -
Capitalization 32 715 M 257 M 257 M
Capi. / Sales 2022 0,28x
Capi. / Sales 2023 0,22x
Nbr of Employees 739
Free-Float 48,3%
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Mean consensus BUY
Number of Analysts 0
Last Close Price 898,00
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Managers and Directors
Ryo Higuchi Executive President, CEO & Representative Director
Masaru Higuchi Director, Head-Personnel & Information Systems
Akira Endo Chief Technology Officer & Executive Officer
Shinpei Noguchi Chief Operating Officer
Ken Kutaragi Independent Outside Director
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