Change to contingent liability disclosure for credit guarantee obligations without collection
First written in FY2020-Q1. 9 of 11 entries say "Restated". Latest entry: FY2023.
0 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Following the change in accounting policy, compared with the previous accounting treatment, credit guarantee instalment receivables under current assets and credit guarantee instalment payables under current liabilities on the consolidated balance sheet each decreased by ¥1,600,436 million. In addition, the allowance for doubtful accounts previously recognised against the guarantee obligation balances was recognised as a ¥402 million provision for losses on guarantees.」
The company continued to apply the accounting policy of not recognising guarantee balances relating to collection services on the balance sheet and disclosing them as contingent liabilities, and disclosed the full-year impact. - FY2023-Q3RestatedAnnual report
「The company had recognised on its consolidated balance sheet, as credit guarantee instalment receivables and credit guarantee instalment payables, guarantee balances relating to guarantees of loans and other obligations held by financial institutions and others, as well as to collection services. From the first-quarter consolidated accounting period, it changed its method to disclose these balances as contingent liabilities rather than recognise them on the consolidated balance sheet, and to recognise the related provision as a provision for losses on guarantees. It also revised the related disclosures.」
The company continues to apply the accounting policy of not recognising guarantee balances relating to collection services on the balance sheet and disclosing them as contingent liabilities. - FY2023-Q2RestatedAnnual report
「The company had recognised on its consolidated balance sheet, as credit guarantee instalment receivables and credit guarantee instalment payables, guarantee balances relating to guarantees of loans and other obligations held by financial institutions and others, as well as to collection services. From the first-quarter consolidated accounting period, it changed its method to disclose these balances as contingent liabilities rather than recognise them on the consolidated balance sheet, and to recognise the related provision as a provision for losses on guarantees. It also revised the related disclosures.」
The company continues to apply the accounting policy of not recognising guarantee balances relating to collection services on the balance sheet and disclosing them as contingent liabilities. - FY2023-Q1ReframedAnnual report
「From the current first-quarter consolidated accounting period, the company changed its method to disclose the relevant obligations as contingent liabilities rather than recognise them on the consolidated balance sheet, and to recognise the related provision as a provision for losses on guarantees. It also revised the related disclosures.」
In addition to the existing guarantee obligations not involving collection, the company expanded the scope of the policy to exclude from the balance sheet guarantee balances relating to collection services and disclose them as contingent liabilities. The reasons for the change were the expansion of the ASEAN business, the selection of the Prime Market, easier comparison with other companies and the provision of useful information to overseas stakeholders. - FY2022-Q3RestatedAnnual report
「Guarantee obligation balances for which the company does not collect payments are disclosed as contingent liabilities.」
The company continues to apply the accounting policy of not recognising guarantee obligation balances for which it does not collect payments on the balance sheet and disclosing them as contingent liabilities. - FY2022-Q1RestatedAnnual report
「Guarantee obligation balances for which the company does not collect payments are disclosed as contingent liabilities.」
The company continues to apply the accounting policy of not recognising guarantee obligation balances for which it does not collect payments on the balance sheet and disclosing them as contingent liabilities. - FY2021-Q2RestatedAnnual report
「Guarantee obligation balances for which the company does not collect payments are disclosed as contingent liabilities.」
The company continues to apply the accounting policy of not recognising guarantee obligations that do not involve collection on the balance sheet and disclosing them as contingent liabilities. - FY2020RestatedAnnual report
「The company determined that its financial position would be presented more appropriately by not recognising guarantee obligations that do not involve collection on the consolidated balance sheet, disclosing them as contingent liabilities and recognising the related provision as a provision for losses on guarantees.」
The company continues to apply the accounting policy of disclosing guarantee obligations that do not involve collection as contingent liabilities and recognising a provision for losses on guarantees. - FY2020-Q3RestatedAnnual report
「Following the change in accounting policy, compared with the previous accounting treatment, credit guarantee instalment receivables under current assets and credit guarantee instalment payables under current liabilities on the quarterly consolidated balance sheet each decreased by ¥1,270,076 million. In addition, the allowance for doubtful accounts previously recognised against guarantee obligations not involving collection was recognised on the quarterly consolidated balance sheet as a ¥647 million provision for losses on guarantees.」
The company continues to apply the accounting policy of disclosing guarantee obligations that do not involve collection as contingent liabilities and has disclosed the impact as of the third quarter. - FY2020-Q2RestatedAnnual report
「The company determined that its financial position would be presented more appropriately by not recognising guarantee obligations that do not involve collection on the consolidated balance sheet, disclosing them as contingent liabilities and recognising the related provision as a provision for losses on guarantees.」
The company continues to apply the accounting policy of disclosing guarantee obligations that do not involve collection as contingent liabilities and recognising a provision for losses on guarantees. - FY2020-Q1First statedAnnual report
「The company determined that its financial position would be presented more appropriately by not recognising guarantee obligations that do not involve collection on the consolidated balance sheet, disclosing them as contingent liabilities and recognising the related provision as a provision for losses on guarantees.」
The company reviewed its accounting treatment in connection with new guarantee transactions and the succession of another company's guarantee business, and changed its policy to exclude guarantee obligations that do not involve collection from the balance sheet and disclose them as contingent liabilities. Following retrospective application, credit guarantee instalment receivables and credit guarantee instalment payables for the current first quarter each decreased by ¥1,129,159 million.