062 HOYA, statutory disclosure by IFRS
HOYA Corporation issued on January 31 2011, “A notice of preparation of consolidated financial statements by designated international accounting standards”. This means that they will disclose statutory financial statements required by Financial Instruments and Exchange Act by IFRS instead of current J-GAAP.
The firm had already applied IFRS to its annual report issued on Dec.21 2010, which they voluntarily disclosed. Since they applied “the first-time adoption” and the report came out with audit report, the annual report had been seen as preparation of early and voluntary adoption of IFRS.
As we discussed in this blog on Dec. 24 2010, listed companies that have been thinking and working on to apply IFRS voluntarily counts about 6% of all. We hear that some companies are working on training sessions for their employees. Therefore, we may soon hear some news from a variety of companies about application of IFRS other than Nihon Dempa Kogyo.
