Changes to Product Cost Tracking and Expense Presentation Associated with the Increase in Engineering Projects
First written in FY2024-Q1. 2 of 3 entries say "Restated". Latest entry: FY2024-Q3.
5 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「As the number of engineering projects has increased in recent years, the importance of measuring product costs through departmental cost accounting has grown. To measure product-specific costs more accurately, from the first quarter of the current fiscal year the Company has recorded as cost of sales some personnel expenses and other expenses previously included in selling, general and administrative expenses. To reflect this change in presentation, the Company has reclassified the quarterly consolidated income statement for the cumulative third quarter of the previous fiscal year. As a result, ¥756 million previously presented as selling, general and administrative expenses in the quarterly consolidated income statement for the cumulative third quarter of the previous fiscal year has been reclassified to cost of sales.」
The Company reconfirmed the change in presentation to measure product-specific costs against the backdrop of increased engineering projects and disclosed that ¥756 million was reclassified for the cumulative third quarter of the previous fiscal year. - FY2024-Q2RestatedAnnual report
「As the number of engineering projects has increased in recent years, the importance of measuring product costs through departmental cost accounting has grown. To measure product-specific costs more accurately, from the first quarter of the current fiscal year the Company has recorded as cost of sales some personnel expenses and other expenses previously included in selling, general and administrative expenses. To reflect this change in presentation, the Company has reclassified the quarterly consolidated income statement for the cumulative second quarter of the previous fiscal year. As a result, ¥516 million previously presented as selling, general and administrative expenses in the quarterly consolidated income statement for the cumulative second quarter of the previous fiscal year has been reclassified to cost of sales.」
The Company reconfirmed the change in presentation to measure product-specific costs against the backdrop of increased engineering projects and disclosed that ¥516 million was reclassified for the cumulative second quarter of the previous fiscal year. - FY2024-Q1First statedAnnual report
「As the number of engineering projects has increased in recent years, the importance of measuring product costs through departmental cost accounting has grown. To measure product-specific costs more accurately, from the first quarter of the current fiscal year the Company has recorded as cost of sales some personnel expenses and other expenses previously included in selling, general and administrative expenses. To reflect this change in presentation, the Company has reclassified the quarterly consolidated income statement for the cumulative first quarter of the previous fiscal year. As a result, ¥250 million previously presented as selling, general and administrative expenses in the quarterly consolidated income statement for the cumulative first quarter of the previous fiscal year has been reclassified to cost of sales.」
Against the backdrop of an increase in engineering projects, the Company strengthened measurement of product-specific costs through departmental cost accounting and changed the presentation of some personnel expenses and other expenses from selling, general and administrative expenses to cost of sales. ¥250 million was reclassified for the cumulative first quarter of the previous fiscal year.