Change in the accounting treatment of interest expense and other costs related to non-recourse loans and other borrowings as non-operating expenses
First written in FY2019-Q1. 2 of 3 entries say "Restated". Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「The company had treated interest on borrowings and bonds whose repayment sources are limited to the property held and the income and other assets generated by that property as recourse assets, hereinafter referred to as “non-recourse loans, etc.,” as well as amortization of bond interest and loan arrangement fees and other costs related to non-recourse loans, etc., hereinafter referred to as “interest expense, etc.,” as cost of sales. However, beginning with the first quarter consolidated accounting period, the company changed its method of accounting for these items to treatment as non-operating expenses.」
The company continues to apply the change in presentation under which interest expense and other costs related to non-recourse loans, etc. are treated as non-operating expenses. - FY2019-Q2RestatedAnnual report
「The company had treated interest on borrowings and bonds whose repayment sources are limited to the property held and the income and other assets generated by that property as recourse assets, hereinafter referred to as “non-recourse loans, etc.,” as well as amortization of bond interest and loan arrangement fees and other costs related to non-recourse loans, etc., hereinafter referred to as “interest expense, etc.,” as cost of sales. However, beginning with the first quarter consolidated accounting period, the company changed its method of accounting for these items to treatment as non-operating expenses.」
The company describes the change in presentation under which interest expense and other costs related to non-recourse loans, etc. are treated as non-operating expenses, and the continued application of that treatment. - FY2019-Q1First statedAnnual report
「The company had treated interest on borrowings and bonds whose repayment sources are limited to the property held and the income and other assets generated by that property as recourse assets, hereinafter referred to as “non-recourse loans, etc.,” as well as amortization of bond interest and loan arrangement fees and other costs related to non-recourse loans, etc., hereinafter referred to as “interest expense, etc.,” as cost of sales. However, beginning with the current first quarter consolidated accounting period, the company changed its method of accounting for these items to treatment as non-operating expenses.」
The presentation of interest expense and other costs related to non-recourse loans, etc. was changed from treatment as cost of sales to treatment as non-operating expenses, and the change was applied retrospectively to the first quarter of the previous fiscal year.