Support for the EV battery business through subsidies under the U.S. Inflation Reduction Act
First written in FY2024-Q1. 5 of 7 entries say "Advanced", first in FY2024-Q2. Latest entry: FY2026.
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- FY2026AdvancedAnnual report
「The amounts deducted from cost of sales in the previous consolidated fiscal year and the current consolidated fiscal year were ¥206,244 million and ¥213,396 million, respectively.」
Regarding EV battery subsidies under the U.S. IRA and other programs, ¥213,396 million was deducted from cost of sales in fiscal 2025, and the subsidy asset and liability for the customer-return portion also increased. - FY2026-H1Update to Subsidy Amounts Recognized for the Interim PeriodAnnual report
「The amounts deducted in the previous interim consolidated accounting period and the current interim consolidated accounting period were ¥87,371 million and ¥104,021 million, respectively. … Of the subsidies expected to be received, the amounts expected to be returned to users through customers were deducted from revenue. The amounts deducted in the previous interim consolidated accounting period and the current interim consolidated accounting period were ¥47,547 million and ¥55,692 million, respectively.」
Regarding EV battery subsidies under the U.S. IRA, in the interim period of fiscal 2025, ¥104,021 million was deducted from cost of sales and ¥55,692 million was deducted from revenue as the portion expected to be returned to users through customers. - FY2025-H1AdvancedAnnual report
「During the current interim consolidated accounting period, rights to subsidies arising in prior years were monetized by transferring them to a third party, and the ¥182,631 million received was presented within "Other (net)" under cash flows from operating activities in the condensed interim consolidated statement of cash flows.」
Regarding EV battery subsidies under the U.S. IRA, rights to subsidies arising in prior years were transferred to a third party, progressing to the stage of monetizing ¥182,631 million. - FY2024AdvancedAnnual report
「In the current consolidated fiscal year, ¥188,172 million was deducted from cost of sales, and ¥197,013 million was recognized in "Other non-current assets" at the end of the current consolidated fiscal year. … The amount included in the balance of contract liabilities at the end of the current consolidated fiscal year was ¥106,141 million.」
Regarding U.S. IRA subsidies, ¥188,172 million was deducted from cost of sales for the full year, ¥197,013 million expected to be received directly was recognized as an asset, and ¥106,141 million expected to be used effectively with customers was recognized as a contract liability. - FY2024-Q3AdvancedAnnual report
「In the cumulative third quarter and the third quarter of the current consolidated fiscal year, the amounts treated as reductions in cost of sales were ¥139,284 million and ¥47,799 million, respectively. Of these amounts, those expected to be used effectively with customers in the future to strengthen and expand the North American business, although the method of effective use has not yet been determined, were treated as reductions in revenue under IFRS 15, "Revenue from Contracts with Customers," and presented within "Contract liabilities" (non-current liabilities) on the condensed consolidated statement of financial position. The amounts treated as reductions in revenue in the cumulative third quarter and the third quarter were ¥75,062 million and ¥25,764 million, respectively.」
Regarding EV battery subsidies under the U.S. IRA, ¥139,284 million was treated as a reduction in cost of sales for the nine months ended in the third quarter, of which ¥75,062 million was recognized as a reduction in revenue and contract liabilities because it is expected to be used effectively with customers to strengthen and expand the North American business. - FY2024-Q2AdvancedAnnual report
「In the cumulative second quarter and the second quarter of the current consolidated fiscal year, the amounts treated as reductions in cost of sales were ¥91,485 million and ¥46,497 million, respectively. Of these amounts, those expected to be used effectively with customers in the future to strengthen and expand the North American business were treated as reductions in revenue. The amounts treated as reductions in revenue in the cumulative second quarter and the second quarter were ¥49,298 million and ¥25,072 million, respectively.」
Regarding EV battery subsidies under the U.S. IRA, ¥91,485 million was treated as a reduction in cost of sales for the six months ended in the second quarter, of which ¥49,298 million was treated as a reduction in revenue because it is expected to be used effectively with customers to strengthen and expand the North American business. - FY2024-Q1First statedAnnual report
「Of the subsidies available under the U.S. Inflation Reduction Act, ¥44,998 million expected to be received directly in connection with the manufacture and sale of EV batteries was recognized as a reduction in cost of sales under IAS 20, "Accounting for Government Grants and Disclosure of Government Assistance," and presented within "Other non-current assets" on the condensed interim consolidated statement of financial position. Of this amount, ¥24,226 million is expected to be used effectively with customers in the future to strengthen and expand the North American business. Although the method of effective use has not yet been determined, this amount was recognized as a reduction in revenue under IFRS 15, "Revenue from Contracts with Customers," and presented within "Contract liabilities" on the condensed interim consolidated statement of financial position.」
Regarding subsidies related to EV batteries under the U.S. Inflation Reduction Act, ¥44,998 million was recognized as expected, of which ¥24,226 million is expected to be used effectively with customers to strengthen and expand the North American business.