Change in the Method of Recognizing Construction Revenue Following Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 8 of 9 entries say "Restated". Latest entry: FY2025.
91 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020) and other applicable standards from the beginning of the 69th fiscal year. Accordingly, the key management indicators and other indicators for the 69th fiscal year onward are based on the figures after applying those accounting standards.」
The Company applied the Revenue Recognition Standard from the beginning of the 69th fiscal year and has disclosed its key performance indicators on a post-adoption basis. - FY2024-Q3RestatedAnnual report
「Goods or services transferred at a point in time 998,452 － － 998,452 － 998,452 Goods or services transferred over time 5,662,235 132,730 － 5,794,966 － 5,794,966」
Based on the categories after applying the Revenue Recognition Standard, the Company disclosed revenue from contracts with customers of ¥998.452 million for transfers at a point in time and ¥5,794.966 million for transfers over time. - FY2024-Q2RestatedAnnual report
「Goods or services transferred at a point in time 659,624 － － 659,624 － 659,624 Goods or services transferred over time 3,916,362 82,520 － 3,998,883 － 3,998,883」
Based on the categories after applying the Revenue Recognition Standard, the Company disclosed revenue from contracts with customers of ¥659.624 million for transfers at a point in time and ¥3,998.883 million for transfers over time. - FY2023RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020) and other applicable standards from the beginning of the 69th fiscal year. Accordingly, the key management indicators and other indicators for the 69th fiscal year onward are based on the figures after applying those accounting standards.」
The Company applied the Revenue Recognition Standard from the beginning of the 69th fiscal year and has disclosed its key performance indicators on a post-adoption basis. - FY2023-Q3RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards from the beginning of the first quarter. 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 Company has continued applying the Revenue Recognition Standard, adopted from the beginning of the first quarter, in the third quarter. - FY2022RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year. Key management indicators for the fiscal year reflect application of those standards.」
The Company applied the Revenue Recognition Standard from the beginning of the fiscal year and has disclosed the fiscal year’s key performance indicators on a post-adoption basis. - FY2022-Q3RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards from the beginning of the first quarter. 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 Company has continued applying the Revenue Recognition Standard, adopted from the beginning of the first quarter, in the third quarter and discloses revenue by type of construction work and timing of recognition. - FY2022-Q2RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards from the beginning of the first quarter. 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 Company has continued applying the Revenue Recognition Standard, adopted from the beginning of the first quarter, in the second quarter. Segment information discloses revenue from contracts with customers by type of goods or services and timing of revenue recognition. - FY2022-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards from the beginning of the first quarter of the current 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. For construction contracts, the Company previously recognized revenue by applying the percentage-of-completion method when the outcome of the work performed to date could be reliably determined, and the completed-contract method for other construction work. The Company has changed its method so that when control of the goods or services is transferred to the customer over a period of time, revenue is recognized over that period as the performance obligation to transfer the goods or services to the customer is satisfied. Progress toward satisfying performance obligations is measured using an input method based on the ratio of construction costs incurred by the end of each reporting period to total expected construction costs. For construction projects where the period from the contract commencement date to the expected date of full satisfaction of the performance obligation is very short, an alternative treatment is applied, under which revenue is not recognized according to progress but when the performance obligation is fully satisfied.」
The Company applied the Revenue Recognition Standard and other applicable standards from the beginning of the first quarter, changing revenue recognition from the percentage-of-completion and completed-contract methods to recognition over time as performance obligations are satisfied. Progress is measured using an input method based on construction costs, and an alternative treatment is applied to short-term construction projects. The Company states that there was no impact on retained earnings at the beginning of the period or on quarterly profit or loss.