Adoption of IFRS

We adopted International Financial Reporting Standards (IFRS) for our consolidated financial statements with effect from 1 April 2011. Consequently, our consolidated financial results for the financial year FY2012 and thereafter will be presented in IFRS.

We believe that the use of IFRS in the preparation of our consolidated financial statements is consistent with our international spread of operations and shareholder base.

Behind our decision to be an early adopter is our determination to build a truly international company headquartered in Japan. Enabling the whole Group to use the same accounting language will have clear benefits for the Company’s internal decision-making processes and further enhance our corporate governance structure.