Change in the inventory valuation method due to longer lead times for electrical and instrumentation spare parts
First written in FY2024-Q1. 2 of 3 entries say "Restated". Latest entry: FY2024.
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- FY2024RestatedAnnual report
「This change in valuation method was made to ensure more appropriate inventory valuation and calculation of profit or loss for each period, as the monetary significance of electrical and instrumentation spare parts increased following advance orders for many items in response to longer lead times.」
The inventory valuation method changed to the specific identification method in response to longer lead times and advance orders for electrical and instrumentation spare parts, and the purpose of the change was reaffirmed in the annual report. - FY2024-Q3RestatedAnnual report
「This change in valuation method was made to ensure more appropriate inventory valuation and calculation of profit or loss for each period, as the monetary significance of electrical and instrumentation spare parts increased following advance orders for many items in response to longer lead times.」
The change in the inventory valuation method to the cost method under the specific identification method, driven by longer lead times and advance orders for electrical and instrumentation spare parts, and its purpose were reaffirmed. - FY2024-Q1First statedAnnual report
「For inventories, raw materials and supplies had previously been valued using the moving average cost method, with balance sheet amounts written down based on declining profitability. Beginning in the first quarter accounting period, electrical and instrumentation spare parts included in supplies have been valued using the cost method under the specific identification method, with balance sheet amounts written down based on declining profitability. This change in valuation method was made to ensure more appropriate inventory valuation and calculation of profit or loss for each period, as the monetary significance of these items increased following advance orders for many items in response to longer lead times for electrical and instrumentation spare parts.」
Beginning in the first quarter accounting period, the valuation method was changed to the cost method under the specific identification method, reflecting the increased significance of electrical and instrumentation spare parts due to longer lead times and advance orders. The impact was deemed immaterial.