Sapporo Breweries (2501) raised its reported end-June cash and cash equivalents to ¥217.1bn from the ¥77.1bn it first gave on 7 August, in a correction to its interim results summary dated 4 November. The corrected figure puts the rise since the end of last year at ¥194.7bn, or 871%, against 245% in the original.
What moved, and what did not
The correction covers the condensed interim statement of financial position and parts of the cash flow statement. The income statement, the statement of comprehensive income and the statement of changes in equity are not corrected. Total assets are ¥870.5bn both before and after. The correction therefore moves balances between lines rather than adding any.
Current other financial assets fall to ¥28.8bn from ¥163.8bn as cash rises. Time-deposit placements in investing cash flow shrink to ¥15.1bn from ¥155.1bn, which lifts investing cash inflow to ¥253.6bn from ¥113.6bn.
| Item | First reported | Corrected |
|---|---|---|
| Cash and cash equivalents, end-June | ¥77.1bn | ¥217.1bn |
| Current other financial assets | ¥163.8bn | ¥28.8bn |
| Time-deposit placements (investing cash flow) | ¥155.1bn | ¥15.1bn |
| Investing cash flow | ¥113.6bn | ¥253.6bn |
| Net financial liabilities | ¥37.6bn | minus ¥102.4bn |
| Total assets | ¥870.5bn | ¥870.5bn |
The supplementary slides carry the same shift. Net financial liabilities, which Sapporo had put at ¥37.6bn, now show as minus ¥102.4bn.
Review and sign-off
Sapporo Breweries refiled its semiannual report with the corrected statements, and the amended report shows profit attributable to owners of the parent at ¥295.4bn. EY Shin Nihon, the auditor, reviewed the corrected statements and found nothing that led it to believe they are not fairly presented. The company's president confirmed that the amended report is properly stated under securities law.
The correction notice says only that errors in part of the content came to light after the August disclosure. It gives no cause.