Risk of Changes in the Policy for Determining the Scope of SPC Consolidation
First written in FY2016. 2 of 6 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2020: 1 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2024-Q1AchievedAnnual report
「株式会社ＦＬＩＰ第281号, which had been a consolidated subsidiary, sold its leased asset, an aircraft, in October 2023, repaid its non-recourse loan and terminated its operating lease business. As its materiality had declined, the company was excluded from the consolidation scope during the current first quarter consolidated accounting period.」
FLIP No. 281 completed the aircraft sale, repayment of its non-recourse loan and termination of its lease business, and was excluded from the consolidation scope. - FY2023Consolidation of FLIP No. 281 and planned deconsolidation in the following fiscal yearAnnual report
「However, rather than transferring the silent partnership interests in the relevant business to investors, we decided to sell the leased assets of that lease business in the market and terminate the business. As a result, the profits and losses and cash flows of the relevant business became attributable to us. We therefore determined that the provisions of the above clause did not apply and decided to consolidate 株式会社ＦＬＩＰ第281号 as a subsidiary.」
FPG No. 281, which had been excluded from consolidation through the previous fiscal year, was consolidated because the business was to be terminated by selling the aircraft without selling the silent partnership interests. The aircraft sale was completed in October 2023, and deconsolidation is planned for the fiscal year ending September 2024. - FY2020MaterialisedAnnual report
「Regarding 株式会社ＦＬＩＰ第243号, 株式会社ＦＬＩＰ第244号 and 株式会社ＦＬＩＰ第245号, we decided to hold the silent partnership interests in the operating lease businesses operated by these companies for the time being. As a result, the profits and losses and cash flows of the silent partnership businesses became substantively attributable to us, and therefore, from the current consolidated fiscal year, these companies have been included in the consolidation scope as consolidated subsidiaries.」
Although the policy was generally to exclude SPCs from consolidation, the Group began holding the silent partnership interests in AML transactions for the time being, resulting in the actual consolidation of 3 companies. - FY2018RestatedAnnual report
「If, as a result of the establishment of new standards or the publication of practical guidance, an accounting policy for determining the consolidation scope of special-purpose companies (SPCs) is established that differs substantially from the policy adopted by the Group, or if the Group's level of involvement changes, the Group's policy for determining its consolidation scope may also change substantially, potentially affecting the Group's results of operations and financial position.」
Continuing disclosure of the risk of changes in accounting standards, practical guidance and the level of involvement concerning the consolidation scope of SPCs. - FY2017RestatedAnnual report
「If, as a result of the establishment of new standards or the publication of practical guidance, an accounting policy for determining the consolidation scope of special-purpose companies (SPCs) is established that differs substantially from the policy adopted by the Group, or if the Group's level of involvement changes, the Group's policy for determining its consolidation scope may also change substantially, potentially affecting the Group's results of operations and financial position.」
Continuing disclosure of the risk of changes in accounting standards, practical guidance and the level of involvement concerning the consolidation scope of SPCs. - FY2016First statedAnnual report
「If, as a result of the establishment of new standards or the publication of practical guidance, an accounting policy for determining the consolidation scope of special-purpose companies (SPCs) is established that differs substantially from the policy adopted by the Group, or if the Group's level of involvement changes, the Group's policy for determining its consolidation scope may also change substantially, potentially affecting the Group's results of operations and financial position.」
Disclosed the risk that the consolidation scope could change as a result of changes in accounting standards or the level of involvement, under the current policy of generally excluding SPCs from consolidation.