Change in the Method for Calculating Retirement Benefit Obligations from the Simplified Method to the Standard Method
First written in FY2018-Q3. 1 of 2 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2019: 1 of 9 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「The Company's retirement lump-sum benefit plan had previously been accounted for using the simplified method, but the method changed to the standard method from the end of the third-quarter consolidated accounting period of the previous fiscal year. The purpose of this change was to estimate retirement benefit obligations more reliably under the standard method, and to record appropriate provisions and present period earnings appropriately, as the number of employees had become consistently higher than 300.」
The annual report also confirms that the method used to calculate retirement benefit obligations changed against a backdrop of the number of employees becoming consistently higher than 300. - FY2018-Q3First statedAnnual report
「Effective from the end of the third-quarter consolidated accounting period, the Company changed the method used to calculate its retirement benefit obligation from the simplified method to the standard method. The purpose of this change was to estimate retirement benefit obligations more reliably under the standard method, and to record appropriate provisions and present period earnings appropriately, as the number of employees had become consistently higher than 300. As a result, liabilities related to retirement benefits at the end of the third-quarter consolidated accounting period increased by ¥241.703 million compared with the former method, while operating income, ordinary income and quarterly net income before income taxes and other adjustments each decreased by the same amount.」
Against a backdrop of the number of employees becoming consistently higher than 300, the method used to calculate retirement benefit obligations changed from the simplified method to the standard method as of 31 December 2017. As a result of the change, liabilities related to retirement benefits increased by ¥241.703 million, while operating income and other figures decreased by the same amount.