Application of the Accounting Standard for Disclosure of Accounting Estimates
First written in FY2021. 3 of 4 entries say "Advanced", first in FY2023. Latest entry: FY2026.
- FY2026AdvancedAnnual report
「Inventories of real estate are valued by writing down their carrying amount when profitability declines. If the net realisable value, calculated by deducting estimated additional costs and estimated selling expenses from the estimated saleable value at the end of the period, is below the carrying amount, the carrying amount is written down by the difference between the net realisable value and the carrying amount, which is recorded as an impairment loss on inventories of real estate. Cost of sales included impairment losses on inventories of real estate of ¥281.333 million in the previous consolidated fiscal year and ¥448.072 million in the current consolidated fiscal year.」
The Company specifically disclosed the valuation method for ¥100,422 million of inventories of real estate, the assumptions for saleable value, additional costs and selling expenses, and the impairment loss of ¥448.072 million. - FY2024AdvancedAnnual report
「The saleable value is determined with the approval of each sales manager as an amount that takes saleability into account, based on nearby transaction examples, recent sales results and other factors. Estimated additional costs are calculated by incorporating the latest estimates obtained from contractors, including the progress of residential land development at the end of the period and increases in the costs of land preparation work, in addition to the results of similar construction work in previous years.」
The Company specifically disclosed the methods used to calculate saleable value, additional costs and selling expenses, as well as the current fiscal year's impairment loss of ¥381.688 million. - FY2023AdvancedAnnual report
「Inventories of real estate are valued by writing down their carrying amount when profitability declines. If the net realisable value, calculated by deducting estimated additional costs and estimated selling expenses from the estimated saleable value at the end of the period, is below the carrying amount, the carrying amount is written down by the difference between the net realisable value and the carrying amount, which is recorded as an impairment loss on inventories of real estate. Cost of sales included impairment losses on inventories of real estate of ¥1,085.221 million in the previous consolidated fiscal year and ¥294.754 million in the current consolidated fiscal year.」
The Company specifically disclosed its accounting estimates for inventories of real estate, including the valuation method, assumptions for saleable value, additional costs and selling expenses, and the amount of the impairment loss. - FY2021First statedAnnual report
「The Accounting Standard for Disclosure of Accounting Estimates has been applied to the consolidated financial statements for the fiscal year-end, and notes on significant accounting estimates are included in the consolidated financial statements.」
The Company applied the accounting standard for disclosures of accounting estimates from the end of the current fiscal year and disclosed significant estimates, including the valuation of inventories of real estate.