Change in Method for Translating Revenues and Expenses of Overseas Subsidiaries and Other Entities
First written in FY2020-Q1. 4 of 5 entries say "Restated". Latest entry: FY2021.
20 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「Assets and liabilities of overseas subsidiaries and other entities are translated into yen using the spot exchange rate at the balance sheet date, while income and expenses are translated using the average exchange rate during the period」
Against the backdrop of the increased materiality of overseas subsidiaries and other entities, the accounting policy of translating income and expenses using the average exchange rate during the period continues to be applied. - FY2020RestatedAnnual report
「Income 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 current consolidated fiscal year, the method was changed to translation using the average exchange rate during the period.」
Against the backdrop of the increased materiality of overseas subsidiaries and other entities, the accounting policy of translating income and expenses using the average exchange rate during the period continues to be applied. - FY2020-Q3RestatedAnnual report
「Income 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 consolidated fiscal year, the method was changed to translation using the average exchange rate during the period. The change was made because the increasing materiality of overseas subsidiaries and other entities made it necessary to mitigate the impact of temporary exchange-rate fluctuations on profit and loss and to reflect their performance more appropriately in the consolidated financial statements.」
The accounting policy of translating income and expenses using the average exchange rate during the period, introduced against the backdrop of the increased materiality of overseas subsidiaries and other entities, continues to be applied. - FY2020-Q2RestatedAnnual report
「Income 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 consolidated fiscal year, the method was changed to translation using the average exchange rate during the period. The change was made because the increasing materiality of overseas subsidiaries and other entities made it necessary to mitigate the impact of temporary exchange-rate fluctuations on profit and loss and to reflect their performance more appropriately in the consolidated financial statements.」
Against the backdrop of the increased materiality of overseas subsidiaries and other entities, the accounting policy of changing the translation method for income and expenses to the average exchange rate during the period and applying it retrospectively continues to be used. - FY2020-Q1First statedAnnual report
「Income 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 current first quarter of the consolidated fiscal year, the method was changed to translation using the average exchange rate during the period. The change was made because the increasing materiality of overseas subsidiaries and other entities made it necessary to mitigate the impact of temporary exchange-rate fluctuations on profit and loss and to reflect their performance more appropriately in the consolidated financial statements.」
Against the backdrop of the increased materiality of overseas subsidiaries and other entities, the translation method for income and expenses was changed from the exchange rate at the balance sheet date to the average exchange rate during the period, and the change was applied retrospectively.