Application of the Average Exchange Rate for the Period to Revenues and Expenses of Foreign Subsidiaries
First written in FY2019-Q1. 4 of 5 entries say "Restated". Latest entry: FY2020.
23 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「The assets and liabilities of overseas subsidiaries and other entities are translated into yen using the spot exchange rate at the consolidated balance-sheet date, while income and expenses are translated into yen using the average exchange rate during the period. Translation differences are recorded in foreign currency translation adjustment and non-controlling interests under net assets.」
The Company continued to translate the income and expenses of overseas subsidiaries using the average exchange rate during the period on a full-year basis. - FY2019RestatedAnnual report
「Previously, the income and expenses of overseas subsidiaries and other entities were translated into yen using the spot exchange rate at the balance-sheet date, but from the current consolidated fiscal year, they have been translated into yen using the average exchange rate during the period.」
The Company continued to translate the income and expenses of overseas subsidiaries using the average exchange rate during the period on a full-year basis. - FY2019-Q3RestatedAnnual report
「Revenue and expenses of overseas 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 consolidated fiscal year the company changed to using the average exchange rate during the period.」
The Company continues to translate the income and expenses of overseas subsidiaries and other entities using the average exchange rate during the period, stating that this more appropriately reflects the performance of overseas subsidiaries in the consolidated financial statements. - FY2019-Q2RestatedAnnual report
「As a result, compared with before the retrospective application, net sales for the cumulative second-quarter period of the previous year decreased by ¥118 million, operating income by ¥48 million, ordinary income and profit before income taxes for the quarter by ¥10 million, and net income attributable to owners of the parent by ¥6 million, respectively.」
The Company continues to translate the income and expenses of overseas subsidiaries and other entities using the average exchange rate during the period and discloses the impact of the retrospective application on each figure for the same period of the previous year. - FY2019-Q1First statedAnnual report
「Previously, the income and expenses of overseas subsidiaries and other entities were translated into yen using the spot exchange rate at the balance-sheet date, but from the first-quarter consolidated accounting period, they have been translated into yen using the average exchange rate during the period.」
In light of the expected increase in the importance of overseas subsidiaries, reflecting the reorganization of overseas sales bases, the increase in newly consolidated subsidiaries and the increase in intercompany transactions associated with changes in distribution channels, the Company changed its translation method to use the average exchange rate during the period. The purpose is to mitigate the effect of temporary exchange-rate fluctuations on period earnings and more appropriately reflect the performance of overseas subsidiaries.