“Report on the disclosure of earnings forecast of listed companies” announced on July 29 2011 by Tokyo Stock Exchange reports that earnings forecast should be voluntarily disclosed. And also, it says that they do not ask for any reason of why earnings forecast is not disclosed.
Most companies disclose earnings forecast in the brief report of financial statements. It is a burden that they have to disclose adjusted earnings forecast every time it becomes highly possible that formerly disclosed earnings forecast could differ from the newly estimated earnings forecast.
On the other hand, investors use the forecast to make their investing decisions and companies could see in number how they will grow in a year.
Earnings forecasts are considered as one of the communication tools between companies and investors. Therefore, balance between cost and benefit should be taken into account by listed companies.
日本板硝子は、2012年3月期第1四半期報告書からIFRSを任意適用して開示した。これで、任意適用を行った会社は、日本電波工業、HOYA、住友商事に続き4社目になります。
内容を見てみると、IFRS移行に伴い、営業利益に対して大きな影響があり、その影響額は2011年3月末で+8,515百万円（137.9%増）、2011年度第1四半期で+3,717百万円（59.3%増）となっています。内訳としては、「のれんが償却されない」ことに伴う費用の減少と退職給付会計における「数理計算上の差異が包括利益として処理される」ことによる費用の減少が、影響額の大半を占めています。
このように、IFRSを適用することでかなり財政状態や経営成績が変わるため、投資家にとってはIFRS適用会社と非適用会社の比較は非常に難しい。比較可能性のなさは、国際競争の中、資金調達面や様々な面で企業を非常に不利な立場に追いやることになる。
東京商工リサーチのアンケートによると、105社が既にIFRSの任意適用を検討しているとのことだ。企業が国際化の流れを汲み取って、早期に自主的に適用を行っていく姿勢は非常に重要である。もたもたと議論が進まない企業会計審議会や金融庁を企業が引っ張っていくよう、これからの企業の自主的なIFRSに対する取り組みに期待したい。
Nippon Sheet Glass Company voluntarily disclosed quarterly financial statements based on IFRS in the first quarterly report for the year ended March 2012. This is the forth case in Japan which disclosed them voluntarily, following Nihon Denpa Kogyo, HOYA, Sumitomo Corporation.
There could be seen a large impact on operating profit, which was 8,515 million yen in March 2011 (increased 137.9%), and 3,717 million yen in the first quarter of the year ended March 2011(increased 59.3%). Major difference between J-GAAP and IFRS that impacted the company’s financial statements were “goodwill”, which shall not be amortized in IFRS, thus decrease of the expense, and “actuarial difference” of the employee benefit accounting, which shall be recognized as other comprehensive income.
Judging from the above, it is quite difficult for investors to compare IFRS financial statements with non-IFRS financial statements as application of IFRS will alter the companies’ financial position and performance. Lack of comparability is crucial when you think about how they procure funds and other stuff in this global economy.
Tokyo Shoko Research conducted a survey on companies which consider voluntary application of IFRS, and it turned out that 105 companies answered positive about it. It is important for companies to understand the globalization in the accounting field and apply IFRS early and voluntarily. We expect them to take a lead on IFRS while Accounting Standards Board of Japan and Financial Services Agency are dragging the matter for long.
