Change in Method for Translating Revenues and Expenses of Overseas Subsidiaries and Other Entities
First written in FY2024-Q1. 1 of 2 entries say "Achieved", first in FY2024. Latest entry: FY2024.
4 other companies' latest entry also says "Achieved".
- FY2024AchievedAnnual report
「The income and expenses of foreign subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the beginning of the current consolidated fiscal year they have been translated using the average exchange rate during the period.」
The method for translating the income and expenses of foreign subsidiaries and other entities was changed to the average exchange rate during the period from the beginning of the current consolidated fiscal year. The accounting policy change, prompted by the increased significance of the overseas business, has been implemented. - FY2024-Q1First statedAnnual report
「The income and expenses of foreign subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the first quarter of the current fiscal year they have been translated using the average exchange rate during the period. This change was made because the significance of the income and expenses of foreign subsidiaries and other entities had increased, in order to mitigate the impact of temporary exchange-rate fluctuations on profit and loss and to reflect their profit and loss more appropriately in the consolidated financial statements.」
The method for translating the income and expenses of foreign subsidiaries and other entities was changed from the spot exchange rate at the balance sheet date to the average exchange rate during the period. The change was prompted by the increased significance of the income and expenses of overseas subsidiaries and other entities; because the impact was immaterial, no retrospective application was made.