Estimating and Recognizing Asset Retirement Obligations for Showrooms and Other Leased Assets
First written in FY2021-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2020: 2 of 11 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「For showrooms and other facilities used under real estate lease agreements, the group recognizes obligations to restore the properties to their original condition upon vacating them as asset retirement obligations, but omits the disclosure because the total amount is immaterial.」
The company continues to recognize asset retirement obligations related to restoring showrooms and other facilities to their original condition, while treating the total amount as immaterial. - FY2021-Q1First statedAnnual report
「For showrooms and other facilities used under lease agreements, the group has obligations to restore the properties to their original condition upon vacating them. However, because the period of use of the leased assets associated with these obligations was unclear, the asset retirement obligations could not be reasonably estimated, and no corresponding asset retirement obligations had been recognized. During the current first-quarter consolidated accounting period, new information obtained in connection with a recent relocation made it possible to reasonably estimate the average occupancy period of the leased assets, and the group recognized the asset retirement obligations.」
New information associated with a recent relocation made it possible to estimate the average occupancy period of leased assets such as showrooms, resulting in recognition of asset retirement obligations. The impact on profit or loss was described as immaterial.