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Annual Reportは、ごうぎんの決算や活動内容にて海外の皆様に知っていただくために作成しています

(j) Foreign Currency TransactionsAssets and liabilities denominated in foreign currencies are translated into Japanese yen using primarily applicable rate ofexchange effective at the balance sheet date.Assets and liabilities denominated in foreign currencies of consolidated subsidiaries are translated into Japanese yenusing the exchange rate at the respective balance sheet date.(k) Hedge Accounting(i) Hedge of interest rate riskThe Bank hedges the interest rate risk arising from the Bank’s financial assets and liabilities by individually matching interestrate swaps with fixed-interest rate loans. The Bank applies the deferral method of hedge accounting, under which gains or losseson derivatives are deferred until maturity of the hedged transactions, or the special treatment for interest rate swaps, underwhich the differential paid or received under the swap agreements are recognized and included in interest expenses or income.(ii) Hedge of foreign exchange riskIn accordance with the general provisions of the “Accounting and Auditing Treatment of Foreign Exchange Transactions forthe Banking Industry” (JICPA Industry Audit Committee Report No. 25, issued on July 29, 2002), the Bank applies the deferralmethod to account for derivative instruments which hedge the foreign exchange risk on financial assets and liabilitiesdenominated in foreign currency.The effectiveness of these transactions to hedge the foreign exchange risks of financial assets or liabilities denominatedin foreign currencies is assessed by comparing the foreign currency position of the hedged assets or liabilities with that of thehedging instruments.In addition, in order to hedge foreign exchange risks of foreign-currency denominated securities, except for debt securities,the Bank applies fair value hedges as comprehensive hedges on such conditions that the hedged securities are specified inadvance and these securities are not more than the hedging spot and forward liabilities denominated in foreign currencies.(l) Consumption TaxesTransactions subject to consumption taxes including the local consumption tax are recorded at amount exclusive ofconsumption taxes.(m) Cash and Cash EquivalentsFor the purpose of the consolidated statements of cash flows, cash and cash equivalents are defined as cash and due fromthe Bank of Japan.3. Accounting ChangeAccounting Standard for Business Combinations and Consolidated Financial StatementsFrom this fiscal year, the Group has adopted revised ASBJ Statement No. 21, “Accounting Standard for BusinessCombinations,” revised ASBJ Statement No. 22, “Accounting Standard for Consolidated Financial Statements,” revised ASBJStatement No.7, “Accounting Standard for Business Divestitures” and related guidance, all of those issued on September 13,2013. Accordingly, the difference arising from changes in the ownership interest in subsidiaries while retaining its controllinginterests in the subsidiaries is recognized as capital surplus, and acquisition costs are recognized as expenses in the periodswhen the costs are incurred. In addition, for a business combination implemented on or after April 1, 2015, an adjustment ofacquisition cost allocation arising from finalization of the provisional accounting treatments is retrospectively recognized in theconsolidated financial statements for the period when the business combination has been implemented. Furthermore, thepresentation of “Net income” has been changed and the presentation of “Minority interests” has been changed to“non-controlling interests.” In order to reflect those changes in the presentation of financial statements, reclassification wasmade accordingly in the consolidated financial statements for the fiscal year ended March 31, 2015.In the consolidated statement of cash flows for the fiscal year ended March 31, 2016, cash flows regarding acquisitionor sales of shares of subsidiaries unaccompanied by change in the scope of consolidation are classified into “Cash flows fromfinancing activities.” Cash flows regarding costs arising from acquisition of shares of subsidiaries accompanied by change inthe scope of consolidation and costs arising from acquisition or sales of shares of subsidiaries unaccompanied by change inthe scope of consolidation are classified into “Cash flows from operating activities.”The transitional provisions stated in Article 58-2 (4) of the Accounting Standard for Business Combinations, Article44-5 (4) of the Accounting Standard for Consolidated Financial Statements and Article 57-4 (4) of the Accounting Standard forBusiness Divestitures were applied accordingly at the adoption. The Group prospectively applied the accounting standardsand guidance from the beginning of the fiscal year ended March 31, 2016.There is no effect on profit before income taxes in the consolidated statement of income for the fiscal year endedMarch 31, 2016. There is no effect on capital surplus in the consolidated balance sheet and the consolidated statement ofchanges in net assets as of March 31, 2016.In addition, there is no effect on per share information.4. New Accounting PronouncementsImplementation Guidance on Recoverability of Deferred Tax Assets(ASBJ Guidance No. 26, issued on March 28, 2016)This guidance basically takes over the treatment of the recoverability of deferred tax assets, formally defined in JICPA AuditCommittee Report No. 66, “Auditing Treatment of Judgments with Regard to Recoverability of Deferred Tax Assets,” andpartially revises the treatment.The Group expects to adopt this guidance from the beginning of the fiscal year beginning on April 1, 2016. The Groupis in the process of determining the effects of applying this guidance.19