Corporate, Financials, HR
OKI Announces Financial Results for the Fiscal Year Ended March 31, 2022
TOKYO, May 11, 2022 -- OKI (TOKYO:6703) today announced its financial results for the fiscal year ended March 31, 2022 and projections for the fiscal year ending March 31, 2023.
Summary of the Consolidated Financial Results
Amounts are rounded to the nearest hundred million.
The Company has adopted "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020) and related implementation guidance from the beginning of the fiscal year ended March 31, 2022 and figures for the year ended March 31, 2022 reflect this change of accounting method.
Effective in the fourth quarter of the fiscal year ended March 31, 2022, the accounting policy was changed at overseas subsidiaries where the International Financial Reporting Standards (IFRS) are applied, based on the "Configuration or Customization Costs in a Cloud Computing Arrangement (IAS No. 38)", an agenda decision by the IFRS Interpretations Committee (IFRIC) that was announced in April 2021. Accordingly, the values for the fiscal year ended March 31, 2021 were corrected retroactively by reflecting the said change of the accounting policy.
The projections and plans in this document are subject to change depending upon the changes of business environments and other conditions.
About Oki Electric Industry Co., Ltd. (OKI)
Founded in 1881, OKI is Japan's leading information and telecommunication manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its Solution Systems business and Components & Platforms business. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at https://www.oki.com/.
- Oki Electric Industry Co., Ltd. is referred to as "OKI" in this document.
Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.
