Change in the useful life of store buildings, primarily to 20 years
First written in FY2019-Q1. 2 of 3 entries say "Restated". Latest entry: FY2019-Q3.
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- FY2019-Q3RestatedAnnual report
「As a result, compared with the previous method, depreciation expenses for the nine months ended the third quarter of the current consolidated fiscal year decreased by ¥136.626 million, while operating profit, ordinary profit and quarterly net income before income taxes and other adjustments increased by the same amount.」
Continued to disclose the impact of changing the useful life of store buildings primarily to 20 years on depreciation expenses and profit, using the amounts for the nine months ended the third quarter. - FY2019-Q2RestatedAnnual report
「As a result, compared with the previous method, depreciation expenses for the six months ended the second quarter of the current consolidated fiscal year decreased by ¥92.018 million, while operating profit, ordinary profit and quarterly net income before income taxes and other adjustments increased by the same amount.」
Continued to disclose the impact of changing the useful life of store buildings primarily to 20 years on depreciation expenses and profit, using the amounts for the six months ended the second quarter. - FY2019-Q1First statedAnnual report
「The Company had previously depreciated its store buildings, excluding building improvements, over a useful life of 7 years. During the first quarter of the current consolidated fiscal year, the transition from conventional “conveyor-belt sushi” restaurants to made-to-order “non-conveyor-belt sushi” restaurants under the policy of rebuilding and strengthening dominant areas had largely been completed, and store structures had become predominantly steel-framed. In addition, the Company adopted a policy of focusing on investment in new stores. After reviewing future periods of use and investment plans in light of these factors, it revised the useful life primarily to 20 years and applied the change prospectively. As a result, compared with the previous method, depreciation expenses for the three months ended the first quarter of the current consolidated fiscal year decreased by ¥46.777 million, while operating profit, ordinary profit and quarterly net income before income taxes and other adjustments increased by the same amount.」
The useful life of store buildings was revised from the previous 7 years primarily to 20 years. The change was prompted by the completion of the transition to made-to-order restaurants and a change in the policy toward investment in new stores, reducing depreciation expenses by ¥46.777 million in the first quarter.