Change to translating revenues and expenses of overseas subsidiaries at the average exchange rate for the period
First written in FY2024-Q1. 2 of 3 entries say "Restated". Latest entry: FY2024-Q3.
14 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「The revenues and expenses of overseas subsidiaries had previously been translated into yen using the spot exchange rate at the balance sheet date, but from the beginning of the first-quarter consolidated accounting period, the translation method was changed to use the average exchange rate during the period.」
The Company continues to explain that it has applied the accounting policy of translating the revenues and expenses of overseas subsidiaries using the average exchange rate during the period from the beginning of the first quarter. - FY2024-Q2RestatedAnnual report
「The revenues and expenses of overseas subsidiaries had previously been translated into yen using the spot exchange rate at the balance sheet date, but from the beginning of the first-quarter consolidated accounting period, the translation method was changed to use the average exchange rate during the period.」
The Company continues to explain that it has applied the accounting policy of translating the revenues and expenses of overseas subsidiaries using the average exchange rate during the period from the beginning of the first quarter. - FY2024-Q1First statedAnnual report
「The revenues and expenses of overseas subsidiaries had previously been translated into yen using the spot exchange rate at the balance sheet date, but from the beginning of the first-quarter consolidated accounting period, the translation method was changed to use the average exchange rate during the period.」
Against a backdrop of the increased materiality of overseas subsidiaries, the translation method was changed to mitigate the impact of temporary exchange-rate fluctuations on profit and loss and to reflect operating performance more appropriately in the consolidated financial statements. The impact was immaterial, and no retrospective application was made.