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Revision of the TANKAN survey method due to the change in the accounting treatment of lease transactions

February 26, 2008
Research and Statistics Department
Bank of Japan

The new accounting method for lease transactions will apply from the fiscal year beginning after April 1, 2008*, and may cause discontinuity in data for the following seven TANKAN survey items: "Fixed investment," "Software investment," "Depreciation expenses," "Operating profits," "Financial expenses," "Total assets," and "Total liabilities."

  • It will be conducted in accordance with the "Accounting Standard for Lease Transactions" (ASBJ Statement No. 13) and "Guidance on Accounting Standard for Lease Transactions," (ASBJ Guidance No.16) released on March 30, 2007, by the Accounting Standards Board of Japan.

In response, the Bank will review the TANKAN survey method as explained below, considering issues such as:

  1. (1) the purpose of the TANKAN (to provide an accurate picture of business trends of enterprises in Japan, thereby contributing to the appropriate implementation of monetary policy);
  2. (2) the usefulness of the survey data for data users; and
  3. (3) the reporting burden.

1. Annual Projections

"Fixed investment" and "Software investment"

The definitions of the FY2008 figures for "Fixed investment" and "Software investment" obtained from the March 2008 survey will follow the previous "Accounting Standard for Lease Transactions." As a consequence, there will be no discontinuity between FY2008 and past figures.

From the March 2009 survey, the Bank will obtain "Fixed investment" and "Software investment" figures whose definitions follow the new "Accounting Standard for Lease Transactions," in addition to the above figures. Specific details on this subject will be provided later.

"Depreciation expenses," "Operating profits," and "Financial expenses"

The Bank will obtain FY2008 figures based on the accounting treatment of reporting enterprises. As a consequence, there will be discontinuity between FY2008 and past figures as from the June 2008 survey.

2. Quarterly data

"Total assets" and "Total liabilities"

The Bank will obtain end of June 2008 figures based on the accounting treatment of reporting enterprises. As a consequence, there will be discontinuity between end of June 2008 and past figures as from the September 2008 survey.

For further information, contact:

Business Survey
Research and Statistics Department
Bank of Japan

Email:post.rsd5@boj.or.jp