Application of the Accounting Standard for Revenue Recognition and the Accounting Standard for Fair Value Measurement

「The Implementation Guidance on the Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the “Fair Value Measurement Implementation Guidance”) was applied from the beginning of the first quarter of the current consolidated accounting period. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Implementation Guidance, the new accounting policies prescribed by the guidance have been applied prospectively. There was no impact on the quarterly consolidated financial statements.」

「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards were applied from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognized when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. The Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, 4 July 2019; hereinafter, the “Fair Value Measurement Accounting Standard”) and other standards were applied from the beginning of the first quarter of the current consolidated fiscal year. The new accounting policies prescribed by the Fair Value Measurement Accounting Standard and other standards will be applied prospectively.」