Change in Inventory Valuation Methods Prompted by Core System Redevelopment
First written in FY2018-Q1. 6 of 8 entries say "Restated". Latest entry: FY2025.
20 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The Company had previously used the cost method based on the retail inventory method to value distribution center inventory included in inventories (the method of writing down the book value due to a decline in profitability). From the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (the method of writing down the book value due to a decline in profitability).」
The change in the inventory valuation method prompted by system modifications associated with the transfer of the distribution center was also confirmed in the annual results. The impact of the change was immaterial. - FY2025-Q1Additional change in the valuation method for distribution center inventoryAnnual report
「The Company had previously used the cost method based on the retail inventory method to value distribution center inventory included in inventories (the method of writing down the book value due to a decline in profitability). From the first quarter of the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (the method of writing down the book value due to a decline in profitability). The change was implemented to enable more appropriate inventory valuation and periodic profit and loss calculations following system modifications associated with the transfer of the distribution center.」
Following the change for existing subsidiary inventories, the valuation method for distribution center inventory was also changed from the retail inventory method to the weighted-average method. The change was prompted by system modifications associated with the transfer of the distribution center, and its impact was immaterial. - FY2022RestatedAnnual report
「For pharmaceutical products and 株式会社横浜ファーマシー, however, the cost method based on the weighted-average method is used (for balance sheet amounts, the method of writing down the book value based on a decline in profitability).」
The accounting policy of applying the weighted-average method to inventory held by subsidiaries and other entities continues. - FY2019RestatedAnnual report
「For pharmaceutical products and 株式会社横浜ファーマシー, however, the cost method based on the weighted-average method is used (for balance sheet amounts, the method of writing down the book value based on a decline in profitability).」
The weighted-average method continues to be applied to inventory, including that of subsidiaries. This filing provides no new explanation of the reason for the change prompted by the reconstruction of the core system. - FY2018RestatedAnnual report
「The Company's subsidiaries had previously used the cost method based on the specific identification method for the latest purchase price to value inventories (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). From the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). This change was made to achieve more appropriate periodic profit and loss calculations in connection with the reconstruction of the core system.」
The change in the inventory valuation method prompted by the reconstruction of the core system is reiterated. The beginning balance of retained earnings decreased by ¥65 million due to the cumulative impact, while the impact on earnings for the year was immaterial. - FY2018-Q3RestatedAnnual report
「The Company's subsidiaries had previously used the cost method based on the specific identification method for the latest purchase price to value inventories (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). From the first quarter of the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). This change was made to achieve more appropriate periodic profit and loss calculations in connection with the reconstruction of the core system.」
The change in the inventory valuation method used by the Company's subsidiaries, prompted by the reconstruction of the core system, and its purpose are reiterated. - FY2018-Q2RestatedAnnual report
「The Company's subsidiaries had previously used the cost method based on the specific identification method for the latest purchase price to value inventories (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). From the first quarter of the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). This change was made to achieve more appropriate periodic profit and loss calculations in connection with the reconstruction of the core system.」
The change in the inventory valuation method used by the Company's subsidiaries, prompted by the reconstruction of the core system, and its purpose are reiterated. - FY2018-Q1First statedAnnual report
「The Company's subsidiaries had previously used the cost method based on the specific identification method for the latest purchase price to value inventories (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). From the first quarter of the current consolidated fiscal year, this was changed to the cost method based on the weighted-average method (for balance sheet amounts, the method of writing down the book value based on a decline in profitability). This change was made to achieve more appropriate periodic profit and loss calculations in connection with the reconstruction of the core system.」
The inventory valuation method used by the Company's subsidiaries was changed from the latest purchase price method to the weighted-average method. The change was prompted by the reconstruction of the core system and aims to achieve more appropriate periodic profit and loss calculations. The impact of the change on quarterly earnings was immaterial, while the beginning balance of retained earnings decreased by ¥65 million.