This figure has been replaced. See Translation dating test dec31 against feb against mar (F-2) — supersedes, year to March 2018–year to March 2026.
What this is
Feb basis : year to March 2025 8,420/(0.32×0.74) = $35.6bn — impossible against below-parent NA 439,093/155.91 = $2.82bn. Confirms 's Dec reading on register rows; its general-knowledge Dec-31 rates are not used.
The value
- Below parent NA year to February 2026 $ bn at Dec25: 2.82
Some detail is too fine to show here; it is kept in the trainer’s notes.
Where it comes from
Our calculation from other figures in the trainer’s notes:
- ReportedFx rate register calendar year and december (TPCi-basis candidates) + TPC year to February 2027 YTD, 2017–2025; Dec 2016–Dec 2025; Mar–Oct 2026
- FiledUSDJPY last business day of February, TPC FY-end (Feb) 2017-2026
- EstimateGroup minus parent balance sheet year to February 2026, Nintendo year to March 2026 affiliate aggregate vs TPC parent year to February 2026
- EstimateCarrying residual implied usd net assets translation test, year to March 2022–year to March 2025
Show the working
- implied NA = fx_t / (0.32 × Δrate_t)
- Dec basis (Dec monthly averages,, proxy for Dec 31): FY3/22 3,378/(0.32×10.03) = $1.05bn
- FY3/23 7,219/(0.32×21.08) = 1.07
- FY3/24 4,245/(0.32×9.07) = 1.46
- FY3/25 8,420/(0.32×9.83) = 2