Change in the Translation Method for Foreign Subsidiaries' Revenue and Expenses
First written in FY2019-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023.
17 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The assets and liabilities of overseas subsidiaries are translated into yen using the spot exchange rate on each subsidiary's fiscal year-end date, while income and expenses are translated using the average rate during the period. Translation differences are included in the foreign currency translation adjustment account and non-controlling interests under net assets.」
The accounting policy of translating the revenues and expenses of overseas subsidiaries at the average exchange rate during the period continues to be applied. - FY2021RestatedAnnual report
「The assets and liabilities of overseas subsidiaries are translated into yen using the spot exchange rate on each subsidiary's fiscal year-end date, while income and expenses are translated using the average rate during the period. Translation differences are included in the foreign currency translation adjustment account and non-controlling interests under net assets.」
The accounting policy of translating the revenues and expenses of overseas subsidiaries at the average exchange rate during the period continues to be applied. - FY2019RestatedAnnual report
「The income and expenses of overseas subsidiaries had previously been translated into yen using the spot exchange rate on each subsidiary's fiscal year-end date. However, in light of the growing materiality of the overseas subsidiaries and significant exchange-rate fluctuations in recent years, the Company changed the translation method from the fiscal year-end spot rate to the average rate during the period from the current consolidated fiscal year, to reflect the subsidiaries' results more appropriately in the consolidated financial statements.」
The Company has continued to disclose the accounting policy of translating income and expenses of overseas subsidiaries at the average rate during the period as a change effective from FY2019. - FY2019-Q1First statedAnnual report
「The income and expenses of overseas subsidiaries had previously been translated into yen using the spot exchange rate on each subsidiary's fiscal year-end date. However, in light of the growing materiality of the overseas subsidiaries and significant exchange-rate fluctuations in recent years, the Company changed the translation method from the fiscal year-end spot rate to the average rate during the period from the beginning of the first quarter of the current consolidated fiscal year, to reflect the subsidiaries' results more appropriately in the consolidated financial statements.」
In light of the growing materiality of overseas subsidiaries and exchange-rate fluctuations, the Company changed the method of translating income and expenses into yen from the fiscal year-end spot rate to the average rate during the period, effective 1 April 2018.