Application of ASC 842 at Overseas Subsidiaries
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2021: 2 of 11 companies on the "Worse" side.
32 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASC 842, “Leases,” has been applied from the beginning of the current consolidated fiscal year. As a result, lease transactions for lessees are, in principle, recognized as assets and liabilities on the balance sheet for all leases. The standard has been applied using the transition method permitted under the transitional provisions, under which the cumulative effect of retrospective adjustments is recognized at the date of initial application.」
The company also disclosed the application of ASC 842 in FY2023 and recognition of the cumulative effect at the date of initial application. - FY2023-Q2RestatedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASC 842, “Leases,” has been applied from the first quarter of the consolidated fiscal year. As a result, lease transactions for lessees are, in principle, recognized as assets and liabilities on the balance sheet for all leases. As a result, at the beginning of the first quarter of the consolidated fiscal year, other property, plant and equipment increased by ¥126 million, other current liabilities increased by ¥101 million, other non-current liabilities increased by ¥27 million, and retained earnings decreased by ¥1 million.」
The company reiterates the application of ASC 842 from the first quarter and its impact on assets, liabilities and retained earnings at the beginning of the period. The impact on earnings for the six-month period ended the second quarter is described as immaterial. - FY2023-Q1First statedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASC 842, “Leases,” has been applied from the first quarter of the current consolidated fiscal year. As a result, lease transactions for lessees are, in principle, recognized as assets and liabilities on the balance sheet for all leases. As a result, at the beginning of the first quarter of the current consolidated fiscal year, other property, plant and equipment increased by ¥126 million, other current liabilities increased by ¥101 million, other non-current liabilities increased by ¥27 million, and retained earnings decreased by ¥1 million.」
At overseas consolidated subsidiaries applying U.S. GAAP, ASC 842, “Leases,” was applied from the first quarter of the current consolidated fiscal year. The application resulted in specific changes at the beginning of the period in property, plant and equipment, current liabilities, non-current liabilities and retained earnings, while its impact on operating income, ordinary income and quarterly profit before income taxes for the quarter was described as immaterial.