Changing the Translation of Foreign Subsidiaries’ Revenue and Expenses to Average Rates for the Period
First written in FY2019-Q2. 2 of 3 entries say "Restated". Latest entry: FY2020.
20 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「在外子会社の資産及び負債は、決算日の直物為替相場により円貨に換算し、収益及び費用は、期中平均相場により円貨に換算し、換算差額は純資産の部における為替換算調整勘定及び非支配株主持分に含めて計上しております。」
Continues to apply the accounting policy of translating overseas subsidiaries’ revenue and expenses using the average exchange rate during the period. - FY2019-Q3RestatedAnnual report
「在外子会社の収益及び費用は、従来、当該在外子会社の決算日の直物為替相場により円貨に換算しておりましたが、第１四半期連結会計期間より期中平均為替相場により円貨に換算する方法に変更しております。」
海外展開の加速と海外売上高等の重要性増加見込みを背景に、在外子会社の収益・費用の換算方法を期中平均為替相場へ変更したことを再確認している。 - FY2019-Q2First statedAnnual report
「Revenue and expenses of foreign subsidiaries were previously translated into yen using the spot exchange rate at each subsidiary’s fiscal year-end. From the first quarter consolidated accounting period, they have been translated using the average exchange rate for the period. This change was made because the significance of overseas sales and other items at foreign subsidiaries is expected to increase further as overseas expansion accelerates, in order to mitigate the impact on periodic profit and loss of temporary exchange-rate movements at period-end and to reflect the performance of foreign subsidiaries more appropriately in the consolidated financial statements.」
Against a backdrop of accelerating overseas expansion and the expected growing importance of overseas sales, the company changed the translation method for foreign subsidiaries’ revenue and expenses from the period-end spot rate to the average rate for the period. The impact was immaterial, so no retrospective application was made.