Adoption of IFRS 9, IFRS 15 and IFRS 16
First written in FY2018. 4 of 7 entries say "Advanced", first in FY2019-Q1. Latest entry: FY2022.
The whole theme swung hardest in 2020: 2 of 22 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「The Group has early adopted the following standard from the current consolidated fiscal year. IAS 12 “Income Taxes” (revised May 2021)」
The company early adopted the amendments to IAS 12 from the fiscal year and made retrospective adjustments, including a ¥3.209 billion decrease in assets, a ¥1.053 billion increase in liabilities and a ¥4.262 billion decrease in equity at the end of the previous fiscal year. - FY2020-Q1AdvancedAnnual report
「The main impact of applying IFRS 16 “Leases” on these condensed quarterly consolidated financial statements is that, in principle, right-of-use assets representing the right to use the underlying assets and lease liabilities representing the obligation to pay lease payments are recognized on the condensed quarterly consolidated statement of financial position for all leases, while depreciation of right-of-use assets and finance costs relating to lease liabilities are recognized in the condensed quarterly consolidated statement of comprehensive income. As a result of applying the standard, “Property, plant and equipment,” “Intangible assets” and “Trade and other receivables and loans” increased by a total of ¥235,170 million, while “Other financial liabilities (current and non-current)” increased by ¥237,958 million, at the date of initial application.」
The company began applying IFRS 16, which had previously been scheduled for adoption and was under consideration, from the first quarter, and disclosed actual increases of ¥235,170 million in right-of-use assets and other items and ¥237,958 million in other financial liabilities. - FY2019AdvancedAnnual report
「The main impact of applying IFRS 16 “Leases” on the consolidated financial statements is that, in principle, right-of-use assets representing the right to use the underlying assets and lease liabilities representing the obligation to pay lease payments are recognized on the consolidated statement of financial position for all leases, while depreciation of right-of-use assets and finance costs relating to lease liabilities are recognized in the consolidated statement of comprehensive income. Applying the standard is expected to increase assets and liabilities by approximately ¥250 billion each.」
After beginning to apply IFRS 9 and IFRS 15, the company quantified the expected impact of IFRS 16, to be applied from the fiscal year ending March 2020, as an increase of approximately ¥250 billion each in assets and liabilities. - FY2019-Q3RestatedAnnual report
「The Company and its consolidated subsidiaries have applied the following standards from the first quarter of the current consolidated fiscal year. Standards and interpretations Overview IFRS 9 “Financial Instruments” (revised July 2014) Revisions concerning impairment accounting and the classification and measurement of financial assets IFRS 15 “Revenue from Contracts with Customers” Accounting treatment and disclosures concerning revenue recognition The application of the above standards and interpretations has no material impact on these condensed quarterly consolidated financial statements.」
The company reiterated that applying IFRS 9 and IFRS 15 from the first quarter had no material impact on the condensed quarterly consolidated financial statements. - FY2019-Q2RestatedAnnual report
「The Company and its consolidated subsidiaries have applied the following standards from the first quarter of the current consolidated fiscal year. Standards and interpretations Overview IFRS 9 “Financial Instruments” (revised July 2014) Revisions concerning impairment accounting and the classification and measurement of financial assets IFRS 15 “Revenue from Contracts with Customers” Accounting treatment and disclosures concerning revenue recognition The application of the above standards and interpretations has no material impact on these condensed quarterly consolidated financial statements.」
The company reiterated that applying IFRS 9 and IFRS 15 from the first quarter had no material impact on the condensed quarterly consolidated financial statements. - FY2019-Q1AdvancedAnnual report
「The Company and its consolidated subsidiaries have applied the following standards from the first quarter of the current consolidated fiscal year. IFRS 9 “Financial Instruments” (revised July 2014) Revisions concerning impairment accounting and the classification and measurement of financial assets IFRS 15 “Revenue from Contracts with Customers” Accounting treatment and disclosures concerning revenue recognition The application of the above standards and interpretations has no material impact on these condensed quarterly consolidated financial statements.」
The company began applying IFRS 9 and IFRS 15 from the first quarter and stated that they had no material impact on the financial statements. For revenue, it also disclosed the distinction between principal and agent transactions and recognition based on the 5-step model. - FY2018First statedAnnual report
「The application of IFRS 9 “Financial Instruments” (revised July 2014) and IFRS 15 “Revenue from Contracts with Customers” is not expected to have a material impact on the consolidated financial statements of the Company and its consolidated subsidiaries. The impact of applying IFRS 16 “Leases” is under consideration and cannot be estimated at this time.」
The company disclosed the expected impact or status of its review, with IFRS 9 and IFRS 15 scheduled for adoption from the fiscal year ended March 2019 and IFRS 16 from the fiscal year ended March 2020.