Abolition of the deferral of cost variances and change to the general treatment
First written in FY2019-Q1. 2 of 3 entries say "Restated". Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「As a result of this change, compared with the previous method, operating profit, ordinary profit and profit before income taxes for the cumulative third quarter decreased by ¥18.075 million each.」
The company continued the standard treatment adopted from the first quarter, without deferring cost variances, and disclosed the impact on the cumulative third-quarter period. - FY2019-Q2RestatedAnnual report
「As a result of this change, compared with the previous method, operating profit, ordinary profit and profit before income taxes for the cumulative second quarter decreased by ¥3.465 million each.」
The company continued the standard treatment adopted from the first quarter, without deferring cost variances, and disclosed the impact on the cumulative second-quarter period. - FY2019-Q1First statedAnnual report
「The company had previously deferred cost variances arising from seasonal fluctuations in the operating rate and other factors during quarterly consolidated accounting periods. However, operating rates were leveled throughout the year, mainly because construction periods had lengthened as a result of increased orders for large projects, reducing the materiality of cost variances arising during quarterly consolidated accounting periods. Accordingly, beginning with the current first quarter consolidated accounting period, the company discontinued deferral accounting for cost variances and adopted the standard treatment.」
The company discontinued deferral accounting for cost variances from the first quarter because operating rates had been leveled by increased orders for large projects and longer construction periods. The change reduced operating profit and other items by ¥9.892 million.