Preparing for Adoption of the Lease Accounting Standard
First written in FY2019. 3 of 8 entries say "Restated". Latest entry: FY2023-Q2.
The whole theme swung hardest in 2021: 3 of 8 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「Overseas subsidiaries applying U.S. GAAP have applied ASU 2016-02, Leases (25 February 2016; hereinafter, “ASU 2016-02”), from the beginning of the first quarter of the current fiscal year. Under ASU 2016-02, lessees generally recognise assets and liabilities for all leases. On adoption, the Company has adopted the method permitted as a transition measure of recognising the cumulative effect of applying the standard at the date of initial application. The impact on the quarterly consolidated financial statements for the six months ended the second quarter of the current fiscal year was immaterial.」
The overseas subsidiaries applying U.S. GAAP have continued the accounting treatment under which ASU 2016-02, Leases, was applied from the beginning of the first quarter of the current fiscal year. The impact on the financial statements was immaterial. - FY2023-Q1AchievedAnnual report
「Overseas subsidiaries applying U.S. GAAP have applied ASU 2016-02, Leases (25 February 2016; hereinafter, “ASU 2016-02”), from the first quarter of the current fiscal year. Under ASU 2016-02, lessees generally recognise assets and liabilities for all leases.」
ASU 2016-02, Leases, which had been scheduled through the previous fiscal year for application from the beginning of the fiscal year ending March 2023, was actually applied by the U.S. overseas subsidiaries from the first quarter of the current fiscal year. The impact on the financial statements was immaterial. - FY2022Further postponement of ASU adoptionAnnual report
「The standard was scheduled to be applied by U.S. consolidated subsidiaries from the beginning of the fiscal year ending March 2023.」
The scheduled application of ASU 2016-02, Leases, was further postponed from the fiscal year ending March 2022, as stated in the previous fiscal year, to the fiscal year ending March 2023. - FY2020IFRS adoption completed; ASU adoption postponedAnnual report
「Overseas consolidated subsidiaries applying International Financial Reporting Standards have applied IFRS 16, Leases, from the current fiscal year. ASU 2016-02, Leases, was scheduled to be applied from the fiscal year ending March 2022.」
While IFRS 16, which had been scheduled for application from the beginning of the fiscal year ending March 2022 in the previous fiscal year, was applied from the current fiscal year, the scheduled application of ASU 2016-02 under U.S. GAAP was changed from the fiscal year ending March 2021 to the fiscal year ending March 2022. - FY2020-Q3RestatedAnnual report
「Overseas consolidated subsidiaries applying International Financial Reporting Standards have applied IFRS 16, Leases (13 January 2016), from the first quarter of the current fiscal year. Under this standard, lessees are generally required to recognise assets and liabilities for all leases. On adoption, the Company has followed the method of recognising the cumulative effect of retrospective adjustments at the date of initial application. The impact on the quarterly consolidated financial statements as of the end of the third quarter of the current fiscal year was immaterial.」
The Company has continued to disclose the accounting treatment for IFRS 16, Leases, which was applied from the first quarter after having been scheduled for application in the previous fiscal year, and has stated that its impact on the financial statements at the end of the third quarter was immaterial. - FY2020-Q2RestatedAnnual report
「Overseas consolidated subsidiaries applying International Financial Reporting Standards have applied IFRS 16, Leases (13 January 2016), from the first quarter of the current fiscal year. Under this standard, lessees are generally required to recognise assets and liabilities for all leases. On adoption, the Company has followed the method of recognising the cumulative effect of retrospective adjustments at the date of initial application. The impact on the quarterly consolidated financial statements as of the end of the second quarter of the current fiscal year was immaterial.」
The Company has continued to disclose in the second quarter the accounting treatment for IFRS 16, Leases, which was applied from the first quarter after having been scheduled for application in the previous fiscal year. - FY2020-Q1AchievedAnnual report
「Overseas consolidated subsidiaries applying International Financial Reporting Standards have applied IFRS 16, Leases (13 January 2016), from the first quarter of the current fiscal year.」
IFRS 16, Leases, which was scheduled for application in the previous fiscal year, has actually been applied by the relevant overseas consolidated subsidiaries from the first quarter of the current fiscal year. - FY2019First statedAnnual report
「IFRS 16, Leases, was scheduled to be applied from the fiscal year ending March 2020 by overseas affiliates excluding North America. ASU 2016-02, Leases, was scheduled to be applied from the fiscal year ending March 2021.」
The Company has newly disclosed the scheduled application dates for different lease accounting standards for overseas affiliates excluding North America and for North America.