Change in Inventory Valuation Method Prompted by a Core System Change
First written in FY2017-Q2. 2 of 3 entries say "Restated". Latest entry: FY2017.
19 other companies' latest entry also says "Restated".
- FY2017RestatedAnnual report
「The company and certain domestic affiliated companies had previously used the weighted-average method to value inventories, but changed to the moving-average method from the current fiscal year. This change was prompted by the change to the core system implemented in August 2016 and was intended to enable faster and more appropriate calculation of periodic profit and loss by calculating the cost of withdrawals in a timely manner.」
The change from the weighted-average method to the moving-average method for inventory valuation, prompted by the change to the core system, was reconfirmed. - FY2017-Q3RestatedAnnual report
「The company and certain domestic affiliated companies had previously used the weighted-average method to value inventories, but changed to the moving-average method from the second quarter. This change was prompted by the change to the core system implemented in August 2016 and was intended to enable faster and more appropriate calculation of periodic profit and loss by calculating the cost of withdrawals in a timely manner.」
The change in the inventory valuation method prompted by the change to the core system was reconfirmed. - FY2017-Q2First statedAnnual report
「The company and certain domestic affiliated companies had previously used the weighted-average method to value inventories, but changed to the moving-average method from the second quarter of the current fiscal year. This change was prompted by the change to the core system implemented in August 2016 and was intended to enable faster and more appropriate calculation of periodic profit and loss by calculating the cost of withdrawals in a timely manner.」
The inventory valuation method was changed from the weighted-average method to the moving-average method following the change to the core system.