PARCO Co., Ltd. has decided to adopt International Financial Reporting Standards (IFRS) in place of Japanese Accounting Standards (Japanese GAAP) in its consolidated financial statements starting from the first quarter of the fiscal year ending February 28, 2018.
PARCO Group is adopting IFRS to correspond with the beginning of its next Medium-term Business Plan (starting from March 2017), with the aim of improving the international comparability of financial information for investors, facilitating coherent management by unifying accounting standards with those of PARCO’s parent company, J. Front Retailing Co., Ltd, and increasing understanding and awareness of our business model by more accurately reflecting it in financial statements.
Planned schedule for the adoption of IFRS in company disclosures
April 2017 Financial results for FY2017 Japanese GAAP
－Consolidated results for FY2017 Japanese GAAP
－Consolidated forecasts for FY2018 IFRS
May 2017 Securities report for FY2017 Japanese GAAP
June 2017 Financial results for Q1 FY2018 IFRS
July 2017 Quarterly report for Q1 FY2018 IFRS