Preparing for Adoption of the New Accounting Standard for Revenue Recognition
First written in FY2018. 1 of 7 entries say "Restated". Latest entry: FY2022.
82 other companies' latest entry also says "Other".
- FY2022Full-year impact finalizedAnnual report
「As a result, the main impacts on the consolidated balance sheet for the fiscal year were a ¥1,816 million decrease in merchandise and finished goods, a ¥3,210 million increase in prepaid expenses and a ¥1,583 million increase in advances received. On the consolidated income statement for the fiscal year, revenue decreased by ¥5,859 million, cost of sales decreased by ¥5,666 million, and operating income, ordinary income and profit before income taxes each decreased by ¥192 million.」
Following the full-year application of the revenue recognition standard, revenue decreased by ¥5,859 million, while operating income, ordinary income and other items decreased by ¥192 million, and the opening balance of retained earnings decreased by ¥169 million. - FY2022-Q3Updated the cumulative impact of applying the new accounting standardAnnual report
「As a result, revenue for the cumulative third-quarter consolidated period decreased by ¥4,358 million, cost of sales decreased by ¥4,181 million, and operating income, ordinary income and profit before income taxes each decreased by ¥177 million. The opening balance of retained earnings also decreased by ¥169 million.」
The impact of the revenue recognition standard applied from the beginning of the fiscal year ending March 2022 on revenue and profit for the cumulative third-quarter period was quantified. By segment, revenue decreased by ¥3,416 million in the Semiconductor and Electronic Devices Business and by ¥942 million in the Computer Systems-Related Business. - FY2022-Q2Quantified the impact of applying the new accounting standardAnnual report
「As a result, revenue for the cumulative second-quarter consolidated period decreased by ¥2,864 million, cost of sales decreased by ¥2,742 million, and operating income, ordinary income and profit before income taxes each decreased by ¥122 million. The opening balance of retained earnings also decreased by ¥169 million.」
The impact of the revenue recognition standard applied from the beginning of the fiscal year ending March 2022 on revenue and profit for the cumulative second-quarter period, as well as its cumulative impact on the opening balance of retained earnings, was quantified. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current consolidated 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.」
Having completed preparations to apply the standard from the beginning of the fiscal year ending March 2022, the company applied the revenue recognition standard from the beginning of the current first-quarter consolidated accounting period. The recognition methods for agent transactions, product sales with maintenance services and products requiring installation were also changed. - FY2021AdvancedAnnual report
「(2) Scheduled date of application The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022. (3) Impact of applying the accounting standards and related requirements The application of the “Accounting Standard for Revenue Recognition” and related standards is expected to result in the cumulative impact being reflected in net assets at the beginning of the following consolidated fiscal year, with the opening balance of retained earnings expected to decrease by ¥169 million.」
The company disclosed an expected ¥169 million decrease in the opening balance of retained earnings in preparation for applying the revenue recognition standard from the beginning of the fiscal year ending March 2022. - FY2019RestatedAnnual report
「“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 30 March 2018) and “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 30 March 2018)」
The company reaffirmed its policy of applying the new five-step revenue recognition standard from the beginning of the fiscal year ending March 2022, with the impact still under assessment. - FY2018First statedAnnual report
「“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 30 March 2018) and “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 30 March 2018)」
The company disclosed plans to apply the standards from the beginning of the fiscal year ending March 2022 and to transition to revenue recognition based on five steps, including identifying contracts, identifying performance obligations and determining transaction prices.