Adoption of New Accounting Standards for Revenue Recognition and Fair Value Measurement

「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter accounting period. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」

「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services is transferred to the customer. The company has also applied the “Accounting Standard for Fair Value Measurement” (Accounting Standard No. 30, 4 July 2019, hereinafter the “Fair Value Measurement Standard”) and other standards from the beginning of the first quarter of the current fiscal year. In accordance with the transitional treatment prescribed in Paragraph 19 of the Fair Value Measurement Standard and Paragraph 44-2 of the “Accounting Standard for Financial Instruments” (Accounting Standard No. 10, 4 July 2019), the company will apply the new accounting policies prescribed by the Fair Value Measurement Standard and other standards prospectively.」