Adoption of IFRS 16 Leases by Overseas Consolidated Subsidiaries
First written in FY2020-Q1. 3 of 6 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2021: 3 of 8 companies on the "Worse" side.
16 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「As a result, at the end of the third quarter of the current consolidated fiscal year, other property, plant and equipment increased by ¥136 million, other current liabilities increased by ¥15 million, and other non-current liabilities increased by ¥121 million. The impact of this change on profit or loss for the cumulative third quarter of the current consolidated fiscal year was immaterial.」
The company continued applying ASC 842 at certain overseas consolidated subsidiaries and disclosed increases at the end of the current quarter of ¥136 million in property, plant and equipment, ¥15 million in current liabilities and ¥121 million in non-current liabilities. - FY2023-Q2RestatedAnnual report
「As a result, lessee lease transactions at the overseas consolidated subsidiaries concerned are, in principle, recognized on the balance sheet as assets and liabilities for all leases. Accordingly, at the end of the second quarter of the current consolidated fiscal year, other property, plant and equipment increased by ¥153 million, other current liabilities by ¥12 million and other non-current liabilities by ¥141 million.」
The company continued applying ASC 842 at certain overseas consolidated subsidiaries and disclosed increases at the end of the current quarter of ¥153 million in property, plant and equipment, ¥12 million in current liabilities and ¥141 million in non-current liabilities. - FY2023-Q1AdvancedAnnual report
「Certain overseas consolidated subsidiaries of our Group that apply US GAAP have applied ASC 842, Leases, from the first quarter of the current consolidated fiscal year. In applying ASC 842, the subsidiaries adopted the transitional method of recognizing the cumulative effect of applying the standard at the date of initial application.」
As part of the implementation of lease accounting standards at overseas consolidated subsidiaries, certain subsidiaries that apply US GAAP began applying ASC 842. The application increased property, plant and equipment by ¥148 million, current liabilities by ¥15 million and non-current liabilities by ¥134 million. - FY2020-Q3RestatedAnnual report
「As a result, at the end of the third quarter of the current consolidated fiscal year, other property, plant and equipment increased by ¥93 million, other current liabilities increased by ¥19 million, and other non-current liabilities increased by ¥74 million. The impact of this change on profit or loss for the cumulative third quarter of the current consolidated fiscal year was immaterial.」
The company continued applying IFRS 16 at certain overseas consolidated subsidiaries and disclosed an increase of ¥93 million in right-of-use assets and ¥93 million in total lease liabilities. - FY2020-Q2AdvancedAnnual report
「As a result, at the end of the second quarter of the current consolidated fiscal year, other property, plant and equipment increased by ¥96 million, other current liabilities increased by ¥24 million, and other non-current liabilities increased by ¥73 million. The impact of this change on profit or loss for the cumulative second quarter of the current consolidated fiscal year was immaterial.」
The company disclosed the specific impact of applying IFRS 16 at certain overseas consolidated subsidiaries: right-of-use assets increased by ¥96 million and current and non-current liabilities increased by a combined ¥97 million. - FY2020-Q1First statedAnnual report
「Certain overseas consolidated subsidiaries of our Group have applied IFRS 16, Leases, from the first quarter of the current consolidated fiscal year. In applying IFRS 16, the subsidiaries adopted the transitional method of recognizing the cumulative effect of applying the standard at the date of initial application. As a result, in principle, right-of-use assets and lease liabilities are recognized for all leases, while depreciation of right-of-use assets and interest expense on lease liabilities are recorded.」
Certain overseas consolidated subsidiaries began applying IFRS 16 in the first quarter of the current consolidated fiscal year and changed their accounting treatment to recognize right-of-use assets and lease liabilities.