Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Masami Iijima) announced today that Mitsui has decided to adopt International Financial Reporting Standards ("IFRS") for its consolidated financial statements instead of the Generally Accepted Accounting Principles in the United States ("USGAAP").
Mitsui will prepare its annual securities report under the Financial Instruments and Exchange Act for the year ending March 31, 2014 in accordance with IFRS. Meanwhile, Mitsui's consolidated financial statements under the Companies Act and annual financial results announcement, except earnings forecast, for the year ending March 31, 2014 will be prepared in accordance with USGAAP, as described below.
Disclosure Schedule (Tentative)
||Annual financial results announcement
- Results for the year ending March 31, 2014 (USGAAP)
- Forecasts for the year ending March 31, 2015 (IFRS)
Consolidated financial statements under the Companies Act
for the year ending March 31, 2014 (USGAAP)
||Annual securities report under the Financial Instruments and Exchange Act
for the year ending March 31, 2014 (IFRS)
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.