Arway Corporation Shifts Fiscal Year-End to March 31
Toronto, ON, February 10, 2025 – Arway Corporation (CSE: ARWY, OTCQB: ARWYF, FSE: E65) (“Arway” or the “Company”) announced today that it will be changing its fiscal year-end from August 31 to March 31. This change is being made to better align the Company’s financial statement and continuous disclosure requirements with those of its affiliates.
Reason Behind the Change
The decision to change the fiscal year-end was made to simplify Arway’s reporting obligations. By aligning its financial year-end with that of its affiliates, the Company will be able to streamline its financial reporting process and improve operational efficiencies.
Impact on Arway Shareholders
The change in fiscal year-end may have an impact on Arway shareholders. The new financial year will now consist of 15 months instead of 12, which could result in more frequent reporting and potential volatility in the Company’s financial statements. However, it is important to note that this change will not affect the number of shares outstanding or the Company’s earnings per share.
- More frequent reporting:
- Potential for increased volatility:
- No effect on shares outstanding or earnings per share.
Impact on the Global Market
The change in Arway’s fiscal year-end may have a ripple effect on the global market. Many companies have financial years that end in December, which is the traditional fiscal year-end. A shift towards more frequent reporting could encourage other companies to consider changing their fiscal year-ends as well.
- Possible trend towards more frequent reporting:
- Encouragement for other companies to consider changing fiscal year-ends.
Conclusion
Arway Corporation’s decision to change its fiscal year-end from August 31 to March 31 is aimed at simplifying the Company’s reporting obligations and aligning its financial statement and continuous disclosure requirements with those of its affiliates. This change may result in more frequent reporting and potential volatility for Arway shareholders, but it could also set a trend towards more frequent reporting in the global market.
As a shareholder, it is important to stay informed about the Company’s financial performance and keep an eye on any potential volatility in the stock price. It is also worth noting that this trend towards more frequent reporting may impact other companies in the market, so it is a good idea to keep an eye on any announcements from companies you may be invested in.
Overall, this change is a positive step for Arway as it aims to streamline its financial reporting process and improve operational efficiencies. It remains to be seen how this trend towards more frequent reporting will play out in the global market, but it is certainly an interesting development to keep an eye on.
