Notes to Consolidated Financial Statements2

HOKURIKU ELECTRIC POWER COMPANY AND CONSOLIDATED SUBSIDIARIES
March 31, 2017

2. Change in Accounting Policies

 (Application of the Implementation Guidance on Recoverability of Deferred Tax Assets)
 The "Implementation Guidance on Recoverability of Deferred Tax Assets" (ASBJ Guidance No. 26, March 28, 2016; hereafter, the " Implementation Guidance on Recoverability") applies as of this consolidated fiscal year, and the account processing method on recoverability of deferred tax assets has been partially revised.
 With regard to the application of the Implementation Guidance on Recoverability, some of the consolidated subsidiaries follow the transitional measures stipulated in Section 49 (4) of the Implementation Guidance on Recoverability; therefore, the difference between the amount of deferred tax assets and deferred tax liabilities in cases where provisions that fall under Items (i) to (iii) of Section 49 (3) of the Implementation Guidance on Recoverability are applied at the beginning of this consolidated fiscal year and the amount of deferred tax assets and deferred tax liabilities at the end of the previous consolidated fiscal year is added to the retained earnings at the beginning of this consolidated fiscal year.
 Any effects attributable to this change are negligible.


3. U.S. Dollar Amounts

 The accompanying consolidated financial statements are expressed in yen, and solely for the convenience of the reader, have been translated into U.S. dollars at the rate of ¥112.20 = U.S.$1, the approximate rate of exchange prevailing at March 31, 2017. The inclusion of such amounts is not intended to imply that yen have been or could be readily converted, realized or settled in U.S. dollars at that or any other rate.


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