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Record

TPC group accumulated translation at 100% (inferred), year to March 2017–year to March 2026 (TPC year to February 2017–year to February 2026)

Year to March 2017–year to March 2026 (TPC year to February 2017–year to February 2026)

EstimateOur model or estimate. Treat it as an order of magnitude.

What this is

So ≈9% of TPC's group equity is unrealised translation of foreign (mostly dollar) net assets; the rest is retained profit.

The value

  • Σ year to March 2017–26: 73,625

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:

Show the working
  1. fx_t / 0.32 …
  2. assumes all affiliates' FX is TPC's,). Σ FY3/17–26 = 23560/0.32 = 73625 ≈ ¥73.6bn = 8.6% of TPC group net assets ¥854,870m
  3. So ≈9% of TPC's group equity is unreal