Change in Method for Translating Foreign Subsidiaries’ Revenues and Expenses to Average Exchange Rates During the Period
First written in FY2019-Q1. 2 of 3 entries say "Restated". Latest entry: FY2019-Q3.
20 other companies' latest entry also says "Restated".
- FY2019-Q3RestatedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on each subsidiary’s fiscal year-end. From the cumulative first quarter, the translation method has been changed to use the average exchange rate during the period.」
The accounting policy of translating the revenues and expenses of overseas subsidiaries at the average exchange rate during the period has continued to be applied. - FY2019-Q2RestatedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on each subsidiary’s fiscal year-end. From the cumulative first quarter, the translation method has been changed to use the average exchange rate during the period.」
The accounting policy of translating the revenues and expenses of overseas subsidiaries at the average exchange rate during the period has continued to be applied. - FY2019-Q1First statedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on each subsidiary’s fiscal year-end. From the cumulative first quarter of the current fiscal year, the translation method has been changed to use the average exchange rate during the period.」
With the expansion of overseas sales and global operations, the method for translating the revenues and expenses of overseas subsidiaries was changed to use the average exchange rate during the period. The stated reason was to mitigate the impact of temporary exchange-rate fluctuations on period results and to reflect the performance of overseas subsidiaries more appropriately in the consolidated financial statements. The impact was immaterial, and the change was not applied retrospectively.