Change in the Recognition Method for Construction and Nursing-Care Revenue Following Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 4 entries say "Restated". Latest entry: FY2022.
91 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the current fiscal year. Details are provided under “V. Accounting Status, 1. Financial Statements, (1) Financial Statements, Notes (Changes in Accounting Policies).”」
The Company has also confirmed in its annual disclosure that the Revenue Recognition Standard and other standards were applied from the beginning of the fiscal year. - FY2022-Q3Update to the Impact of Applying the Accounting StandardAnnual report
「As a result, revenue for the cumulative third quarter increased by ¥1,107.823 million, cost of sales increased by ¥1,012.249 million, and operating income, ordinary income and quarterly net income before taxes each increased by ¥95.574 million. Retained earnings at the beginning of the period also decreased by ¥2.536 million.」
The Company has updated its disclosure of the impact of applying the Revenue Recognition Standard on cumulative third-quarter revenue, cost of sales and profit. - FY2022-Q2Update to the Impact of Applying the Accounting StandardAnnual report
「As a result, revenue for the cumulative second quarter increased by ¥593.225 million, cost of sales increased by ¥537.388 million, and operating income, ordinary income and quarterly net income before taxes each increased by ¥55.836 million. Retained earnings at the beginning of the period also decreased by ¥2.536 million.」
The Company has updated its disclosure of the impact of applying the Revenue Recognition Standard on cumulative second-quarter revenue, cost of sales and profit. - FY2022-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter. Revenue is recognized when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, with respect to revenue from construction contracts, the Company previously applied the percentage-of-completion method to construction projects for which the outcome could be reliably estimated based on progress through the end of each reporting period, and the completed-contract method to other construction projects. However, when control of goods or services is transferred to the customer over a specified period, the Company now recognizes revenue over that period as it satisfies its performance obligation to transfer the goods or services to the customer. Progress toward satisfying performance obligations is measured based on the proportion of construction costs incurred through the end of each reporting period to the total expected construction costs. For construction projects with very short periods, revenue is not recognized over time, but when the performance obligation has been fully satisfied. With respect to revenue from the nursing-care business, the Company previously recognized a portion of entrance fees as revenue at once and recognized the remainder evenly over the period specified in the contract. It has changed to a method of recognizing the full entrance fee as revenue over the reasonably estimated expected residence period.」
The Revenue Recognition Standard was applied from the beginning of the first quarter. Revenue from construction contracts has changed to recognition over time in line with the satisfaction of performance obligations, while revenue from the nursing-care business has changed to recognition of the full entrance fee over the expected residence period. As a result of the application, first-quarter cumulative revenue increased by ¥405.087 million, cost of sales increased by ¥364.579 million, operating loss and other losses decreased by ¥40.507 million, and retained earnings at the beginning of the period decreased by ¥2.536 million.