Adoption of lease accounting standards by overseas subsidiaries in the United States
First written in FY2023-Q1. 3 of 4 entries say "Advanced", first in FY2023-Q2. Latest entry: FY2023.
The whole theme swung hardest in 2021: 2 of 11 companies on the "Worse" side.
2 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「As a result, “Other, net” under property, plant and equipment increased by ¥1,780 million in the consolidated balance sheet for the current fiscal year, while lease obligations under current liabilities increased by ¥231 million and lease obligations under non-current liabilities increased by ¥1,526 million.」
The Company quantified the full-year impact of applying ASU 2016-02 to its overseas subsidiaries in the United States. Assets and lease obligations increased, but the impact on profit or loss was immaterial. - FY2023-Q3AdvancedAnnual report
「As a result, “Other, net” under property, plant and equipment increased by ¥1,845 million in the consolidated balance sheet for the third quarter of the current fiscal year, while “Other” under current liabilities increased by ¥286 million and “Other” under non-current liabilities increased by ¥1,529 million. The impact of this change on profit or loss for the nine months ended the third quarter of the current fiscal year was immaterial.」
As of the third quarter, the Company disclosed the impact of applying ASU 2016-02, “Leases,” to its overseas subsidiaries in the United States, specifying the increases in property, plant and equipment and current and non-current liabilities. The impact on profit or loss was immaterial. - FY2023-Q2AdvancedAnnual report
「As a result of applying ASU 2016-02, “Leases,” “Other, net” under property, plant and equipment increased by ¥1,183 million in the consolidated balance sheet for the second quarter of the current fiscal year, while “Other” under current liabilities increased by ¥326 million and “Other” under non-current liabilities increased by ¥825 million. The impact of this change on profit or loss for the six months ended the second quarter of the current fiscal year was immaterial.」
As of the second quarter, the Company quantified the impact of applying lease accounting standards to its overseas subsidiaries, disclosing increases of ¥1.183 billion in property, plant and equipment and ¥1.151 billion in total current and non-current liabilities, with an immaterial impact on profit or loss. - FY2023-Q1First statedAnnual report
「At an overseas subsidiary applying U.S. GAAP, ASU 2016-02, “Leases” (25 February 2016, hereinafter “ASU 2016-02”), has been applied from the beginning of the first quarter of the current fiscal year.」
An overseas subsidiary applying U.S. GAAP applied ASU 2016-02, which requires the recognition of substantially all assets and liabilities related to leases, from the beginning of the fiscal year. Property, plant and equipment increased by ¥1,278 million, current liabilities by ¥394 million and non-current liabilities by ¥869 million, while the impact on profit or loss was immaterial.