Application of the Revenue Recognition Standard and Change in Recognition of Contract Manufacturing Revenue
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
94 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「We have applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and other standards.」
The Accounting Standard for Revenue Recognition continues to be applied, and the resulting decrease in net sales of ¥13.246 million for the cumulative third quarter was disclosed. - FY2022-Q2RestatedAnnual report
「We have changed the accounting treatment for amounts recognized as net sales when contract manufacturing of specified cell-processed products is interrupted to an accounting treatment under which they are recognized as non-operating income.」
Following adoption of the Accounting Standard for Revenue Recognition, certain contract manufacturing revenue is recognized when the performance obligation is satisfied, while the accounting treatment of recognizing income from the interruption of contract manufacturing as non-operating income has continued. Net sales for the cumulative second quarter decreased by ¥10.553 million. - FY2022-Q1First statedAnnual report
「We adopted the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current fiscal year and recognize revenue at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer. As a major change, revenue for some contract manufacturing activities in the cell-processing business, previously recognized based on shipment, is now recognized when the goods or services are transferred to the customer and the related performance obligation is satisfied.」
The Company adopted the revenue recognition standard from the beginning of the fiscal year and changed recognition for some contract manufacturing from shipment-based recognition to recognition when the performance obligation is satisfied.