Adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
25 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, although there was no impact on the beginning balance of retained earnings, net sales and cost of sales for the nine-month period ended in the third quarter increased by ¥900 million each.」
The company continued applying the revenue recognition standard and related guidance adopted from the first quarter and disclosed an impact of ¥900 million each on net sales and cost of sales for the nine-month period. - FY2022-Q2RestatedAnnual report
「As a result, although there was no impact on the beginning balance of retained earnings, net sales and cost of sales for the six-month period ended in the second quarter increased by ¥3.2 billion each.」
The company has continued applying the revenue recognition standard and related guidance adopted from the first quarter. For the six-month period, it disclosed increases of ¥3.2 billion each in net sales and cost of sales. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 transfers to the customer.」
The company applied the revenue recognition standard and related guidance from the beginning of the first quarter and changed revenue recognition for construction contracts to recognition over time as performance obligations are satisfied. For sales of construction materials and other products, it changed from gross to net recognition based on its assessment of whether it was acting as principal or agent, increasing first-quarter net sales and cost of sales by ¥2.5 billion each.