Change in the translation method for foreign subsidiaries' revenue and expenses
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
15 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「Revenue and expenses of overseas subsidiaries were previously translated into yen using the spot exchange rate at the balance sheet date, but from the first quarter of the current consolidated fiscal year, the method was changed to use the average exchange rate during the period. This change was made because the significance of overseas subsidiaries has increased, with the aim of mitigating the impact of temporary exchange-rate fluctuations on profit or loss and other items and more appropriately reflecting the performance of overseas subsidiaries in the consolidated financial statements.」
The change to translate revenue and expenses of overseas subsidiaries using the average exchange rate during the period, and its purpose, are being reaffirmed. - FY2023-Q2RestatedAnnual report
「Revenue and expenses of overseas subsidiaries were previously translated into yen using the spot exchange rate at the balance sheet date, but from the first quarter of the current consolidated fiscal year, the method was changed to use the average exchange rate during the period. This change was made because the significance of overseas subsidiaries has increased, with the aim of mitigating the impact of temporary exchange-rate fluctuations on profit or loss and other items and more appropriately reflecting the performance of overseas subsidiaries in the consolidated financial statements.」
The change to translate revenue and expenses of overseas subsidiaries using the average exchange rate during the period, and its purpose, are being reaffirmed. - FY2023-Q1First statedAnnual report
「Revenue and expenses of overseas subsidiaries were previously translated into yen using the spot exchange rate at the balance sheet date, but from the first quarter of the current consolidated fiscal year, the method was changed to use the average exchange rate during the period. This change was made because the significance of overseas subsidiaries has increased, with the aim of mitigating the impact of temporary exchange-rate fluctuations on profit or loss and other items and more appropriately reflecting the performance of overseas subsidiaries in the consolidated financial statements.」
The method for translating revenue and expenses of overseas subsidiaries was changed from the spot exchange rate at the balance sheet date to the average exchange rate during the period. Against the backdrop of the increased significance of overseas subsidiaries, the change is intended to mitigate the impact of exchange-rate fluctuations on profit or loss and more appropriately reflect performance in the consolidated financial statements.