Voluntary Adoption of International Financial Reporting Standards (IFRS)
May 11, 2018
Corporate&Financial
Voluntary Adoption of International Financial Reporting Standards (IFRS)
To whom it may concern
Company name: SUBARU CORPORATION
Representative: Yasuyuki Yoshinaga, Representative
Director of the Board and President, CEO
(Code No. 7270, Tokyo Stock Exchange First Section)
Contact for inquiries: Katsuo Saito
Corporate Vice President and General Manager
of General Administration Department
(Tel.: +81-3-6447-8825)
Subaru Corporation hereby announces that at the meeting of the Board of Directors held today, the Company resolved to voluntarily adopt International Financial Reporting Standards (IFRS) to replace the Japanese generally accepted accounting principles (GAAP) it currently uses, with effect from the reports of consolidated financial results and consolidated financial statements for the fiscal year ending March 31, 2020.
Financial reports in accordance with IFRS will be issued from the first quarter of the fiscal year ending March 31, 2020, and the table below sets out the reporting schedule (plan) associated with voluntary adoption of IFRS.
Reporting Schedule Associated with Voluntary Adoption of IFRS (Plan)
| Reporting timing | Reports to be issued | Accounting standards to be applied |
| May 2019 | Consolidated financial results for the fiscal year ending March 31, 2019 * | Japanese GAAP |
| Consolidated financial statements for the fiscal year ending March 31, 2019 | ||
| June 2019 | Securities report for the fiscal year ending March 31, 2019 | |
| August 2019 | Consolidated financial results for the first quarter of the fiscal year ending March 31, 2020 | IFRS |
| Business results for the first quarter of the fiscal year ending March 31, 2020 |
* Projections of consolidated results for the fiscal year ending March 31, 2020, will be reported based on IFRS.
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