Accounting
SANKYO Co.
SANKYO adopts "HUE Classic" to revamp its accounting system in preparation for IFRS compliance.
Evaluating a system that can respond to changes in its own system and legal revisions at no cost.
SANKYO is a leading company in the pachinko industry with a market size of 22 trillion yen and offices throughout Japan. With net sales of 226.6 billion yen and ordinary income of 59.3 billion yen (consolidated, fiscal year ended March 2010), SANKYO boasts one of the highest ordinary income ratios among companies listed on the First Section of the Tokyo Stock Exchange. SANKYO, the largest pachinko manufacturer in Japan, has a wide range of subsidiaries under its umbrella, including a pachinko machine manufacturing subsidiary.
SANKYO, the core of the group, originally used an accounting system developed in-house as its accounting infrastructure. However, when considering compliance with IFRS, there was concern that the department in charge would be placed under a tremendous burden by having to deal with the business side and the system side at the same time, so the decision was made to introduce a new system as soon as possible based on the idea that the system side infrastructure should be prepared ahead of time. In addition to compliance with IFRS, the system had to be able to obtain timely information that would affect management decisions, enhance management accounting, and serve as a unified foundation for group management.
Abundant standard functions and the unique concept of "HUE Classic" were highly evaluated.
In selecting "HUE Classic," SANKYO evaluated its abundant standard functions, high operability, and the ability to respond to unique requirements, such as legal revisions and forms, with free version upgrades*. Another factor in the selection of "HUE Classic Financial Management" was its ability to realize management accounting with standard functions, and its ability to be deployed as a group system in a single package.
Effects of "HUE Classic" implementation and future plans
The system has been in operation since April 2010, and the following implementation effects have been recognized to date.
- We were able to build a system infrastructure that can respond to upcoming legal and institutional changes, including IFRS, without incurring any costs.
- The search and inquiry functions have been enhanced to enable the timely acquisition of a variety of information and processing of data related to management decisions.
- The system was implemented with standard functions rather than additional development such as customization or add-ons, and went live on schedule without delaying the overall implementation schedule.
HUE Classic's IFRS compliance policy
This article was written in January 2011.
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