Change in Inventory Valuation Method Associated with Implementation of a New Core System
First written in FY2024-Q1. 1 of 2 entries say "Restated". Latest entry: FY2024-Q2.
26 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「The Company previously used the cost method based primarily on the weighted-average method to value inventories, with the balance-sheet amounts calculated using the method of writing down book value based on declines in profitability. From the beginning of the first quarter, it changed to the cost method based primarily on the moving-average method, with balance-sheet amounts calculated using the same write-down method. This change in valuation method was made following the introduction of a new core system, with the aim of calculating profit or loss for each period more quickly and appropriately.」
The Company reaffirmed its inventory valuation policy of changing from the weighted-average method to the moving-average method following the introduction of a new core system, and the purpose of the change. - FY2024-Q1First statedAnnual report
「The Company previously used the cost method based primarily on the weighted-average method to value inventories, with the balance-sheet amounts calculated using the method of writing down book value based on declines in profitability. From the beginning of the first quarter of the current fiscal year, it changed to the cost method based primarily on the moving-average method, with balance-sheet amounts calculated using the same write-down method. This change in valuation method was made following the introduction of a new core system, with the aim of calculating profit or loss for each period more quickly and appropriately. The impact of this change in accounting policy is immaterial.」
Following the introduction of a new core system, the Company changed its inventory valuation method from the weighted-average method to the moving-average method, and disclosed for the first time its policy of calculating profit or loss for each period more quickly and appropriately.