Uncertainty in Estimated Total Costs under the Percentage-of-Completion Method
First written in FY2021. 6 of 9 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2024: 9 of 64 companies on the "Worse" side.
21 other companies' latest entry also says "Other".
- FY2026Update to recognized estimateAnnual report
「Completed construction revenue for the fiscal year was ¥256,412 million. … Estimated total costs may also increase due to factors such as rising prices for materials and equipment as a result of global conditions.」
The company continues to disclose the uncertainty in estimated total costs associated with construction progress and updated completed construction revenue recognized over time to ¥256,412 million. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」
It is stated that there have been no material changes in the uncertainty surrounding estimated total costs under the percentage-of-completion method. - FY2023Update to recognized estimateAnnual report
「Completed construction revenue for the fiscal year was ¥189,094 million. … Estimated total costs may also increase due to factors such as rising prices for materials and equipment as a result of global conditions.」
Regarding significant estimates associated with construction progress, completed construction revenue recognized over time amounted to ¥189,094 million. The company continues to disclose that changes in estimated total costs due to higher prices for materials and equipment could have a material impact on future revenue. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes in the uncertainty surrounding estimated total costs under the percentage-of-completion method. - FY2022RestatedAnnual report
「Completed construction revenue for the fiscal year was ¥187,745 million. … Estimated total costs may also increase due to factors such as rising prices for materials and equipment as a result of global conditions.」
The company reconfirmed the potential for estimates to change due to higher prices for materials and equipment, together with completed construction revenue of ¥187,745 million recognized over time. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes in the uncertainty surrounding estimated total costs under the percentage-of-completion method. - FY2022-Q2RestatedAnnual report
「There are no material changes concerning the occurrence of key risks or the "Business and Other Risks" described in the securities report for the previous fiscal year.」
The company states that there have been no material changes in the uncertainty surrounding estimated total costs under the percentage-of-completion method. - FY2022-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the key risks, including uncertainty in estimated total costs under the percentage-of-completion method. - FY2021First statedAnnual report
「The stage of completion is measured by comparing costs incurred as of the fiscal year-end with estimated total costs based on the execution budget through completion of the construction. … Estimated total costs may also increase due to factors such as rising prices for materials and equipment as a result of global conditions. Forecasts based on these assumptions involve significant uncertainty as individual project conditions change and may have a material impact on estimates of total costs. If estimates diverge from actual results as a consequence, the amounts of future revenue in the consolidated financial statements may be affected.」
The company recorded ¥172,277 million in completed construction revenue for the fiscal year under the percentage-of-completion method and, for the first time, explicitly identified changes in estimated total costs based on execution budgets as a significant estimation risk that could affect future revenue.