OREANDA-NEWS. February 04, 2015. DENSO Corporation today announced that its board of directors has approved plans to voluntarily adopt the International Financial Reporting Standards (IFRS). The first document to use IFRS, in place of Japanese accounting standards, will be the consolidated financial statements in DENSO’s Annual Securities report for the fiscal year ending March 31, 2015.

DENSO chose to adopt the IFRS as a global standard to accelerate speedy management by unification of accounting standards in group companies, and to enable stakeholders to more conveniently compare the financial information of DENSO and other companies in capital market.

Japanese accounting standards will continue to be applied to the summary of consolidated financial results for the fiscal year ending March 31, 2015, as well as the consolidated financial statements constructed in accordance with the Companies Act of Japan for the same period.

Tentative schedule for shift to disclosure based on IFRS

April 2015 Summary of consolidated financial results for the fiscal year ending March 31, 2015.
  • Consolidated operating results for the fiscal year ending March 31, 2015
  • Consolidated performance forecasts for the fiscal year ending March 31, 2016
  • Japanese accounting
    standards
  • IFRS
June 2015 Consolidated financial statements for the fiscal year ending March 31, 2015, constructed in accordance with the Companies Act.
  • Japanese accounting
    standards
Annual securities report for the fiscal year ending March 31, 2015