JM does not take responsibility for the translation

Finansinspektionen finds that JM must consolidate tenant-owners associations in its consolidated financial statements according to IFRS

Press release 5/20/2020 8:59 AM

Finansinspektionen has today announced its decision regarding JM’s annual report for 2017, in which the authority determines that the tenant-owners associations that JM develops shall not be considered independent from an IFRS perspective and must therefore be consolidated in JM’s consolidated financial statements. No sanction fee is applicable.

JM will analyze Finansinspektionen’s decision and announce at a later date the company’s position.

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 16 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.