Sumitomo Dainippon Pharma Co (JP:4506) has released an update.
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Sumitomo Pharma Co. has concluded its early retirement program aimed at business restructuring, receiving 604 applications against a target of approximately 700. The program will result in a streamlined workforce of around 2,000 employees and entails a financial impact of 5.4 billion yen, recorded as business structure improvement expenses. These expenses are not included in the current financial forecasts for the fiscal year.
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