Adoption of the revenue recognition standard and changes in revenue recognition methods
First written in FY2022-Q2. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
91 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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 Revenue Recognition Standard, applied from the beginning of the first quarter of the consolidated fiscal year, continues to be applied in the third quarter. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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 Revenue Recognition Standard, applied from the beginning of the first quarter of the consolidated fiscal year, continues to be applied in the third quarter. Some revenue decreased due to the presentation of certain agency transactions on a net basis, but the company explained that there was no material impact on profit or loss. - FY2022-Q2First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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. Accordingly, with respect to revenue from construction contracts, the percentage-of-completion method was previously applied to construction projects for which the reliability of the outcome through the end of each reporting period could be reasonably assured, while the completed-contract method was applied to other projects. This has been changed to a method under which revenue is recognized over time as the performance obligation to transfer the goods or services to the customer is satisfied, when control of the goods or services is transferred to the customer over a period of time.」
The revenue recognition standard was applied from the beginning of the first quarter of the consolidated fiscal year, and the method of recognizing revenue over a period of time according to the satisfaction of performance obligations was adopted for construction contracts, development projects and other activities. Retained earnings at the beginning of the period increased by ¥1,404 million, and balance sheet items including costs on uncompleted construction contracts were also affected.