Change in the translation method for foreign subsidiaries’ income and expenses
First written in FY2017-Q1. 3 of 4 entries say "Restated". Latest entry: FY2017.
20 other companies' latest entry also says "Restated".
- FY2017RestatedAnnual report
「Revenue and expenses of overseas subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the current consolidated fiscal year, the translation method has been changed to use the average exchange rate during the period. In light of recent significant exchange rate fluctuations, this change was made to mitigate the impact of temporary exchange rate movements on period income and expenses and to reflect the performance of overseas subsidiaries more appropriately in the consolidated financial statements.」
The accounting policy of translating revenue and expenses of overseas subsidiaries using the average exchange rate during the period continues to be applied for the full fiscal year, and the impact of retrospective application has been disclosed. - FY2017-Q3RestatedAnnual report
「Revenue and expenses of overseas subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the current consolidated fiscal year, the translation method has been changed to use the average exchange rate during the period. In light of recent significant exchange rate fluctuations, this change was made to mitigate the impact of temporary exchange rate movements on period income and expenses and to reflect the performance of overseas subsidiaries more appropriately in the consolidated financial statements. The increasing materiality of revenue and expenses of overseas subsidiaries from year to year was also a background factor for the change.」
The policy of translating revenue and expenses of overseas subsidiaries using the average exchange rate during the period continues to be applied, with the increasing materiality of overseas subsidiaries explained as a background factor for the change. - FY2017-Q2RestatedAnnual report
「Revenue and expenses of overseas subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the current consolidated fiscal year, the translation method has been changed to use the average exchange rate during the period.」
The accounting policy of translating revenue and expenses of overseas subsidiaries using the average exchange rate during the period continues to be applied, and comparative figures after retrospective application have been disclosed. - FY2017-Q1First statedAnnual report
「Revenue and expenses of overseas subsidiaries and other entities were previously translated into yen using the spot exchange rate at the balance sheet date, but from the current consolidated fiscal year, the translation method has been changed to use the average exchange rate during the period. In light of recent significant exchange rate fluctuations, this change was made to mitigate the impact of temporary exchange rate movements on period income and expenses and to reflect the performance of overseas subsidiaries more appropriately in the consolidated financial statements.」
The translation method was changed to mitigate the impact of significant exchange rate fluctuations on period income and expenses and to reflect the performance of overseas subsidiaries more appropriately in the consolidated financial statements.