Changes in Revenue Recognition and Presentation Due to the Adoption of the Revenue Recognition Standard
First written in FY2022-Q2. 2 of 4 entries say "Restated". Latest entry: FY2025-H1.
10 other companies' latest entry also says "Advanced".
- FY2025-H1AdvancedAnnual report
「Since April 2024, we have operated a new system to further rationalize and improve the efficiency of management and operations. The new system enables us to centrally manage and monitor the information required to estimate progress for all projects. Accordingly, from the current interim consolidated accounting period, we have changed to a method of recognizing revenue over a period of time based on progress toward satisfying the performance obligations to transfer goods or services to customers for all projects with a determined contract amount.」
The new system enabled centralized management of progress information for all projects, and the company changed to recognizing revenue over time based on progress for all projects with determined contract amounts. The impact on net sales and other items for the current interim consolidated accounting period was stated as ¥531.504 million. - FY2022RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards have been applied from the beginning of the current consolidated fiscal year. Accordingly, revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services is transferred to the customer.」
The company continues to apply the revenue recognition accounting standards from the beginning of the fiscal year and recognize revenue based on the timing of satisfaction of performance obligations and progress toward satisfaction, with presentation including contract assets. - FY2022-Q3RestatedAnnual report
「The application of the revenue recognition accounting standard and related guidance follows the transitional treatment specified in the proviso to Paragraph 84 of the revenue recognition accounting standard. The cumulative effect of retrospectively applying the new accounting policy to periods before the beginning of the first quarter of the current consolidated fiscal year was added to or deducted from retained earnings at the beginning of that quarter, and the new accounting policy was applied from that opening balance.」
The company continues to apply the revenue recognition accounting standards and recognize revenue based on the progress toward satisfying performance obligations, with presentation changed to include contract assets. The impact on the financial statements was described as minor. - FY2022-Q2First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter accounting period and began recognizing revenue at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer. Previously, for contract construction and similar projects, we applied the percentage-of-completion method to projects for which the certainty of outcomes for the work completed to date was recognized, and the completed-contract method to other projects. We have changed to a method of recognizing revenue over a period of time for performance obligations satisfied over a period of time, by estimating the progress toward satisfying the performance obligation and recognizing revenue over that period based on the estimated progress.」
The company applied the revenue recognition accounting standards from the beginning of the first quarter of fiscal 2021 and changed to revenue recognition based on the timing of satisfaction of performance obligations and progress toward satisfaction. The impact was described as minor, and the presentation of notes and accounts receivable was changed to include contract assets.