Adoption of Accounting Standards for Revenue Recognition
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
10 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, for the current consolidated fiscal year, net sales in the consolidated statement of income increased by ¥1,120 million, cost of sales increased by ¥1,029 million, operating income increased by ¥90 million, and ordinary income and income before taxes for the year each increased by ¥91 million.」
The company disclosed the impact of applying the revenue recognition accounting standard for the fiscal year, including increases of ¥1,120 million in net sales, ¥90 million in operating income and ¥91 million in ordinary income and related items. - FY2022-Q3AdvancedAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales increased by ¥2,847 million, cost of sales increased by ¥2,201 million, operating income increased by ¥646 million, ordinary income and income before taxes for the quarter each increased by ¥652 million, and the opening balance of retained earnings increased by ¥336 million.」
The company updated the cumulative impact of applying the revenue recognition accounting standard and disclosed increases of ¥2,847 million in net sales, ¥646 million in operating income and ¥652 million in ordinary income and related items. - FY2022-Q2AdvancedAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales increased by ¥2,073 million, cost of sales increased by ¥1,331 million, operating income increased by ¥741 million, ordinary income and income before taxes for the quarter each increased by ¥748 million, and the opening balance of retained earnings increased by ¥336 million.」
The company disclosed the impact of applying the revenue recognition accounting standard for the cumulative second quarter, including increases of ¥2,073 million in net sales, ¥741 million in operating income, ¥748 million in ordinary income and related items, and ¥336 million in the opening balance of retained earnings. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current fiscal year, and recognizes revenue 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.」
For construction contracts, the company changed to methods including recognizing revenue over time based on the progress toward satisfying performance obligations. As a result of the application, first-quarter net sales increased by ¥2,623 million, cost of sales increased by ¥2,346 million, operating loss decreased by ¥275 million, ordinary income and income before taxes for the quarter each increased by ¥275 million, and the opening balance of retained earnings increased by ¥336 million.