Change in the depreciation method for property, plant and equipment in light of the widespread adoption of new ways of working
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
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- FY2023RestatedAnnual report
「In response to changes in the external environment resulting from the widespread adoption of new working styles that do not require employees to commute to the office, we reviewed the actual use of fixed assets in connection with renovation work on the layout of our head office. As the use of fixed assets in Japan is expected to remain stable in each consolidated fiscal year after acquisition, we determined that depreciation under the straight-line method would more reasonably reflect the actual use of property, plant and equipment.」
The company has continued to disclose the change from the declining-balance method to the straight-line method, citing the widespread adoption of new working styles and a review of the actual use of fixed assets. - FY2023-Q2RestatedAnnual report
「The parent company and domestic subsidiaries had traditionally used the declining-balance method to depreciate property, plant and equipment, excluding buildings and building fixtures acquired on or after 1 April 2016, but changed to the straight-line method from the first quarter of the current consolidated fiscal year.」
The company has continued to disclose the change from the declining-balance method to the straight-line method, citing the widespread adoption of new working styles and a review of the actual use of fixed assets. - FY2023-Q1First statedAnnual report
「In response to changes in the external environment resulting from the widespread adoption of new working styles that do not require employees to commute to the office, we reviewed the actual use of fixed assets in connection with renovation work on the layout of our head office. As the use of fixed assets in Japan is expected to remain stable in each consolidated fiscal year after acquisition, we determined that depreciation under the straight-line method would more reasonably reflect the actual use of property, plant and equipment.」
For property, plant and equipment held by the parent company and its domestic subsidiaries, the depreciation method was changed from the declining-balance method to the straight-line method. The company explained that this followed a review of actual usage prompted by the widespread adoption of working styles that do not require commuting and renovation work on the head-office layout.