Application of Hyperinflation Accounting in Turkey
First written in FY2023-Q2. 4 of 8 entries say "Worsened", first in FY2023. Latest entry: FY2026.
Kansai Paint moved to the "Worse" side of this theme in 2023.
The whole theme swung hardest in 2024: 2 of 14 companies on the "Worse" side.
0 other companies' latest entry also says "Worsened".
- FY2026Increase in hyperinflation accounting lossesAnnual report
「The loss on the net monetary position increased from ¥3,268 million in the previous period to ¥3,922 million.」
The loss on the net monetary position arising from hyperinflation accounting in Turkey increased, expanding its impact on consolidated profit and loss. - FY2026-H1Decline in hyperinflation accounting lossesAnnual report
「Ordinary profit was ¥28.606 billion, up 10.0% year on year, due in part to the recording of a foreign exchange gain and a decrease in losses related to net monetary positions under hyperinflationary accounting.」
The loss on the net monetary position arising from hyperinflation accounting declined from ¥1,403 million in the same period of the previous year to ¥1,004 million, but its impact on profit and loss continued. - FY2025Hyperinflation accounting losses continued but declinedAnnual report
「Loss on net monetary position 3,718 3,268」
The loss on the net monetary position arising from hyperinflation accounting in Turkey declined from ¥3,718 million in the previous period to ¥3,268 million, but its impact on consolidated profit and loss continued. - FY2024WorsenedAnnual report
「Loss on net monetary position - 3,718」
A loss of ¥3,718 million on the net monetary position arising from hyperinflation accounting in Turkey was recognized, and the impact on consolidated profit and loss continued. - FY2024-Q3WorsenedAnnual report
「Loss on net monetary position - 2,115」
A loss of ¥2,115 million on the net monetary position arising from hyperinflation accounting was recognized, and the application of hyperinflation accounting in Turkey continued to affect consolidated profit and loss. - FY2023WorsenedAnnual report
「However, profit was lower than the previous year due to soaring raw material and energy costs and the impact of applying hyperinflation accounting in Turkey, among other factors.」
Pressure on profits from the European business, including the application of hyperinflation accounting in Turkey, continued throughout the year, and European ordinary profit fell 72.1%. - FY2023-Q3RestatedAnnual report
「During the second quarter consolidated accounting period, Turkey's cumulative inflation rate over 3 years exceeded 100%. Accordingly, the Group determined that its Turkish consolidated subsidiaries and equity-method affiliates whose functional currency is the Turkish lira (collectively, the "Turkish consolidated subsidiaries and affiliates") were operating in a hyperinflationary economy. The Group has therefore made accounting adjustments to the financial statements of the Turkish consolidated subsidiaries and affiliates in accordance with the requirements of IAS 29, "Financial Reporting in Hyperinflationary Economies."」
The application of hyperinflation accounting in Turkey and accounting adjustments under IAS 29 have continued. - FY2023-Q2First statedAnnual report
「During the second quarter consolidated accounting period, Turkey's cumulative inflation rate over 3 years exceeded 100%. Accordingly, the Group determined that its Turkish consolidated subsidiaries and equity-method affiliates whose functional currency is the Turkish lira (collectively, the "Turkish consolidated subsidiaries and affiliates") were operating in a hyperinflationary economy. The Group has therefore made accounting adjustments to the financial statements of the Turkish consolidated subsidiaries and affiliates in accordance with the requirements of IAS 29, "Financial Reporting in Hyperinflationary Economies."」
Following Turkey's 3-year cumulative inflation rate exceeding 100%, accounting adjustments under IAS 29 were applied to the Turkish consolidated subsidiaries and equity-method affiliates. The impact on ordinary profit was also disclosed.