(Head Office: Chiyoda-ku, Tokyo; CEO: Osamu Hata; hereinafter "WAP") announced today that Panasonic Homes Corporation (Head Office: Toyonaka City, Osaka; President: Takashi Fujii; hereinafter "Panasonic Homes") has decided to adopt WAP's fixed asset management system "HUE Asset". (Headquarters: Toyonaka, Osaka; President: Takashi Fujii) has decided to implement WAP's HUE Asset fixed asset management system. Panasonic Homes will use HUE Asset to comply with the new lease accounting standards and other legal changes, as well as to reduce costs in the future.

Background of Adoption】HUE Asset is highly evaluated for its track record of compliance with IFRS 16 and its early response to the new lease accounting standard.

　Panasonic Homes was considering the introduction of a new lease asset management system due to the expiration of the maintenance period of the current system. HUE Asset has an extensive track record of compliance with IFRS 16 and released the functionality for the new lease accounting standard in October 2024, the month after the standard's release. HUE Asset's rapid response and proven track record were highly evaluated, and the decision was made to introduce HUE Asset.

Expected Effects: Compliance with the new lease accounting standards at no additional cost

　HUE Asset will be continuously enhanced based on the concept of "free version upgrades," and users will be able to use the latest functions incorporated as standard features without paying additional fees, The new lease accounting standards that will take effect in FY2027 have already been included as a standard feature. Panasonic Homes will therefore be able to respond quickly not only to IFRS 16, which is currently in effect, but also to the new lease accounting standards when they are applied. In addition, Panasonic Homes can flexibly respond to future system revisions, which is expected to reduce operating costs over the long term.

■Comments from Mr. Hotta, Manager, Accounting Department, Panasonic Homes
As the maintenance deadline for the current system was approaching, we proceeded to select a system that would be able to respond to the new lease accounting standards in addition to IFRS 16. Although other companies had suggested that we consider applying the new standards, we decided to implement HUE Asset after learning that it was already compliant with the new standards. We were initially concerned about the no-customization concept, but we decided that HUE Asset is highly scalable and flexible, and can be applied to our business within the standard functions.

■About Panasonic Homes
Company Name ： Panasonic Homes Co.
Representative: Takashi Fujii, President and Representative Director
Established: July 1, 1963
Principal Businesses:
＜Construction Contracting Division＞ Construction and renovation of detached houses and rental housing
＜Real Estate Business Division＞ Sales of land, buildings and condominiums for sale, real estate brokerage and rental management
＜Sales Division of Housing System Materials Manufacture and sale of system components for industrialized housing
Number of employees: 5,430 (consolidated, as of April 1, 2024)
URL: https: //homes.panasonic.com/

About HUE

　HUE is a domestically produced ERP developed for Japan's leading companies and continues to grow with customer feedback to meet a wide range of business requirements across industries and business categories. Over 2,200 companies have used Sotetsu HD's system, which has been adopted by Sotetsu HD.

The 97%* fit rate is based on our own standards.

　Panasonic Homes has selected the following one product for this project. The company is considering using the HUE series in the future, including accounting areas other than fixed asset management.

　HUE Asset Management System HUE Asset
・HUE product page is HUE product page is here.

About Works Applications

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