May 13, 2008
Company Name |
: Fuji Heavy Industries Ltd. (Tokyo Stock Exchange First Section, Code No.7270) |
Representative |
: Ikuo Mori, President and CEO |
Contact for Inquiries |
: Kazuto Sakamoto, General Manager of Administration Department (Phone : +81-3-3347-2005) |
Revision of Consolidated Financial Results for FY2008
(the Year Ended March 31, 2008)
The Company hereby revises its consolidated financial results for FY2008 that were released on April 28, 2008.
Note: Revised parts are indicated with underline.
[Page 17]
6. Change of the Basis for Preparation of Consolidated Financial Statements of Significant Accounting Policies
<Originally disclosed>
(Depreciation / amortization method of fixed assets)
In FY 2008, the Company and domestic consolidated subsidiaries changed their depreciation / amortization method for fixed assets acquired on or after April 1, 2007 to conform to the enacted revisions to the tax depreciation schedules under the Corporate Tax Law and related tax regulations. The effects of this change were to decrease operating income by 2,458 millions yen, and to decrease ordinary income and income before income taxes and minority interest by 2,469 millions yen each as compared to the respective amounts that would have been reported under the previous method. Please refer to "Segment Information", about the effect on the business and geographical segments.
(Additional Information)
In addition, during FY 2008, the Company and domestic consolidated subsidiaries started to depreciate the residual book value of fixed assets acquired on or before March 31, 2007 on a straight-line basis over a 5-year period commencing in the year following a year in which those assets have reached their depreciation limit under the previous depreciation / amortization method. Please refer to "Segment Information", about the effect on the business and geographical segments.
This change resulted in a decrease in operating income of 3,362 millions yen, and a decrease in both ordinary income and income before income taxes and minority interest of 3,425 millions yen, as compared to the respective amounts that would have been reported had the change not been implemented.
<Revised>
(Depreciation / amortization method of fixed assets)
In FY 2008, the Company and domestic consolidated subsidiaries changed their depreciation / amortization method for fixed assets acquired on or after April 1, 2007 to conform to the enacted revisions to the tax depreciation schedules under the Corporate Tax Law and related tax regulations. The effects of this change were to decrease operating income by 2,308 millions yen, and to decrease ordinary income and income before income taxes and minority interest by 2,319 millions yen each as compared to the respective amounts that would have been reported under the previous method. Please refer to "Segment Information", about the effect on the business and geographical segments.
(Additional Information)
In addition, during FY 2008, the Company and domestic consolidated subsidiaries started to depreciate the residual book value of fixed assets acquired on or before March 31, 2007 on a straight-line basis over a 5-year period commencing in the year following a year in which those assets have reached their depreciation limit under the previous depreciation / amortization method. Please refer to "Segment Information", about the effect on the business and geographical segments.
This change resulted in a decrease in operating income of 2,298 millions yen, and a decrease in both ordinary income and income before income taxes and minority interest of 2,345 millions yen, as compared to the respective amounts that would have been reported had the change not been implemented.
[Page 19]
(Segment Information)
(1) Information by business segment
<Originally disclosed>
Notes: 5. |
The Company and domestic consolidated subsidiaries changed their depreciation / amortization method in FY 2008 as mentioned in "Changes in the Basis for Preparation of Consolidated Financial Statements and Significant Accounting Policies". The effects of this change were to decrease operating income of "Automobiles" by 2,294 millions yen. In addition, the change in the depreciation / amortization method for the residual book value during FY 2008 described in "Additional Information" resulted in a decrease in operating income of "Automobiles" of 2,826 millions yen. The effects of these changes on other business segments were insignificant. |
<Revised>
Notes: 5. |
The Company and domestic consolidated subsidiaries changed their depreciation / amortization method in FY 2008 as mentioned in "Changes in the Basis for Preparation of Consolidated Financial Statements and Significant Accounting Policies". The effects of this change were to decrease operating income of "Automobiles" by 2,158 millions yen. In addition, the change in the depreciation / amortization method for the residual book value during FY 2008 described in "Additional Information" resulted in a decrease in operating income of "Automobiles" of 1,897 millions yen. The effects of these changes on other business segments were insignificant. |
[Page 20]
(2) Information by Geographic segment
<Originally disclosed>
Notes: 5. |
The Company and domestic consolidated subsidiaries changed depreciation / amortization method in FY 2008 as mentioned in "Changes in the Basis for Preparation of Consolidated Financial Statements and Significant Accounting Policies". The effects of this change were to decrease operating income of "Japan" by 2,458 millions yen. In addition, the change in the depreciation / amortization method for the residual book value during FY 2008 described in "Additional Information" resulted in a decrease in operating income of "Japan" of 3,362 millions yen. |
<Revised>
Notes: 5. |
The Company and domestic consolidated subsidiaries changed depreciation / amortization method in FY 2008 as mentioned in "Changes in the Basis for Preparation of Consolidated Financial Statements and Significant Accounting Policies". The effects of this change were to decrease operating income of "Japan" by 2,308 millions yen. In addition, the change in the depreciation / amortization method for the residual book value during FY 2008 described in "Additional Information" resulted in a decrease in operating income of "Japan" of 2,298 millions yen. |