Change in Method for Translating Revenue and Expenses of Overseas Consolidated Subsidiaries
First written in FY2016-Q4. 1 of 2 entries say "Achieved", first in FY2017. Latest entry: FY2017.
0 other companies' latest entry also says "Achieved".
- FY2017AchievedAnnual report
「The income and expenses of overseas consolidated subsidiaries and other entities were formerly translated into yen at the spot exchange rate on each company's fiscal year-end date, but from the current consolidated fiscal year the Company changed its method to translate them at the average exchange rate during the period.」
The Company changed the method of translating income and expenses of overseas consolidated subsidiaries to use the average exchange rate during the period and implemented the related accounting policy change, including retrospective application. - FY2016-Q4First statedAnnual report
「The income and expenses of overseas consolidated subsidiaries and other entities were formerly translated into yen at the spot exchange rate on each company's fiscal year-end date. However, as overseas sales by these entities are expected to become increasingly significant, the Company changed its method from the first quarter of the current consolidated fiscal year to translate them into yen at the average exchange rate during the period, in order to reflect their results more appropriately in the consolidated financial statements.」
As overseas sales are expected to become increasingly significant, the Company changed its method of translating the income and expenses of overseas consolidated subsidiaries to use the average exchange rate during the period.