Change in the method of translating foreign subsidiaries’ revenues and expenses to average exchange rates for the period
First written in FY2024-Q1. 3 of 4 entries say "Restated". Latest entry: FY2025.
18 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Previously, the income and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on the fiscal year-end date of the relevant overseas subsidiary. From the first quarter of the current consolidated fiscal year, this method has been changed to translation into yen at the average exchange rate for the period.」
The change to translating the income and expenses of overseas subsidiaries using the average exchange rate for the period remains in effect. - FY2024-Q3RestatedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on the overseas subsidiary’s settlement date. From the first quarter of the current consolidated fiscal year, we have changed the translation method to use the average exchange rate during the period.」
The change to translating the income and expenses of overseas subsidiaries using the average exchange rate for the period is again described as having been applied from the first quarter of the consolidated fiscal year. - FY2024-Q2RestatedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on the overseas subsidiary’s settlement date. From the first quarter of the current consolidated fiscal year, we have changed the translation method to use the average exchange rate during the period.」
The change to translating the income and expenses of overseas subsidiaries using the average exchange rate for the period is again described as having been applied from the first quarter of the consolidated fiscal year. - FY2024-Q1First statedAnnual report
「Previously, the revenues and expenses of overseas subsidiaries were translated into yen at the spot exchange rate on the overseas subsidiary’s settlement date. From the first quarter of the current consolidated fiscal year, we have changed the translation method to use the average exchange rate during the period. This change was made because the revenues and expenses of overseas subsidiaries have become more material, in order to mitigate the impact of temporary exchange rate fluctuations on period income and to reflect more appropriately in the consolidated financial statements the profits and losses of overseas subsidiaries arising throughout the accounting period.」
From FY2024-Q1, the translation method for the revenues and expenses of overseas subsidiaries was changed from the spot exchange rate at the settlement date to the average exchange rate during the period. The impact of the change was described as immaterial.