Change in Accounting Treatment for Installment Sales Transactions and Lease System Change
First written in FY2024-Q1. 1 of 2 entries say "Restated". Latest entry: FY2024-Q3.
3 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「With respect to the method of recording the interest-equivalent amount included in sales-type installment transactions, we had previously used the straight-line method. In connection with the system change, however, we changed to the interest method, the standard method, from the third quarter of the current consolidated fiscal year.」
The change in accounting treatment for installment sales transactions accompanying the change to the existing leasing system continued to be applied, and details were provided on the change from the straight-line method to the interest method for the interest-equivalent amount of sales-type installment transactions. - FY2024-Q1First statedAnnual report
「Following the change to the leasing system on 1 April 2023, accounting treatment more closely reflecting the substance of the transactions became possible. Accordingly, from the first quarter of the current fiscal year, we changed the method of recording the principal-equivalent amount as installment receivables and the interest-equivalent amount as net sales, and applied this change retrospectively.」
Following the change to the leasing system, installment sales transactions were changed to a method that records principal and interest separately. Compared with the first quarter of the previous year, ordinary revenue, ordinary expenses and other items each decreased by ¥1,961 million, while other assets and other liabilities at the end of the previous consolidated fiscal year each decreased by ¥1,022 million.