Deduction of Gains on Sales of Scrap Metal and Other Items from Cost of Sales
First written in FY2023-Q1. 2 of 4 entries say "Restated". Latest entry: FY2024.
1 other company's latest entry also says "Dropped".
- FY2024DroppedAnnual reportThe FY2024 Annual Securities Report contains no separate disclosure identifiable as relating to the change in accounting treatment for deducting proceeds from sales of scrap metal and other items from cost of sales.
- FY2023-Q3RestatedAnnual report
「Previously, the Group recorded proceeds from sales of scrap metal and other items generated during construction and other processes as gains on sales of goods under non-operating income. However, as the importance of proceeds from sales of such scrap metal and other items within cost of sales has increased due to soaring raw material costs in recent years, the method was changed from the beginning of the first-quarter consolidated accounting period to deduct these proceeds from cost of sales in order to more appropriately reflect the Group's performance in the consolidated financial statements.」
The accounting treatment of deducting proceeds from sales of scrap metal and other items from cost of sales rather than recording them as non-operating income continues. Compared with before retrospective application, cost of sales for the prior-year cumulative third quarter decreased and operating profit increased by ¥447 million. - FY2023-Q2RestatedAnnual report
「Previously, the Group recorded proceeds from sales of scrap metal and other items generated during construction and other processes as gains on sales of goods under non-operating income. However, as the importance of proceeds from sales of such scrap metal and other items within cost of sales has increased due to soaring raw material costs in recent years, the method was changed from the beginning of the first-quarter consolidated accounting period to deduct these proceeds from cost of sales in order to more appropriately reflect the Group's performance in the consolidated financial statements.」
From the beginning of the first-quarter consolidated accounting period, the accounting treatment of deducting proceeds from sales of scrap metal and other items from cost of sales rather than recording them as non-operating income has continued. Compared with before retrospective application, cost of sales for the prior-year cumulative second quarter decreased and operating profit increased by ¥316 million. - FY2023-Q1First statedAnnual report
「Previously, the Group recorded proceeds from sales of scrap metal and other items generated during construction and other processes as gains on sales of goods under non-operating income. However, as the importance of proceeds from sales of such scrap metal and other items within cost of sales has increased due to soaring raw material costs in recent years, the method was changed from the beginning of the current first-quarter consolidated accounting period to deduct these proceeds from cost of sales in order to more appropriately reflect the Group's performance in the consolidated financial statements.」
As the importance of proceeds from sales of scrap metal and other items increased due to soaring raw material costs, from the beginning of the current first-quarter consolidated accounting period the accounting treatment was changed so that gains on sales of goods are deducted from cost of sales rather than recorded as non-operating income. Compared with before retrospective application, prior-year cost of sales decreased and operating profit increased by ¥141 million.