Reclassification of dividends received from group credit life insurance policies to expenses related to services and other transactions
First written in FY2021-Q3. 1 of 2 entries say "Achieved", first in FY2021. Latest entry: FY2021.
0 other companies' latest entry also says "Achieved".
- FY2021AchievedAnnual report
「Dividends received from group credit life insurance policies, which had previously been included in other ordinary revenue, are presented as the net amount under expenses related to services and other transactions from the current consolidated fiscal year.」
The revised presentation introduced in the third quarter was applied to the annual financial statements, and comparative information for the previous consolidated fiscal year was also reclassified. - FY2021-Q3First statedAnnual report
「Dividends received from group credit life insurance policies had previously been included in other ordinary revenue. Following a review of the accounting presentation prompted by changes to contracts relating to premiums paid and dividends received under certain group credit life insurance policies, as well as the expected increase in such insurance contracts, we determined that it would be more appropriate from the perspective of presenting the insurance premiums that should ultimately be borne to record the amount after deducting dividends received from premiums paid as an expense. Accordingly, from the third quarter of the current consolidated fiscal year, the net amount has been presented as expenses related to services and other transactions.」
The presentation of dividends received from group credit life insurance policies was reviewed in light of contract changes and the expected increase in insurance contracts. From the third quarter of the current consolidated fiscal year, the net amount was presented as expenses related to services and other transactions rather than other ordinary revenue. Comparative information was also reclassified.