Application of the Revenue Recognition Accounting Standard and Over-Time Revenue Recognition for Long-Term Warranty Services
First written in FY2023-Q1. 3 of 4 entries say "Restated". Latest entry: FY2025.
3 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards have been applied from the beginning of the 48th fiscal year. Accordingly, the key management indicators and other figures for the 48th fiscal year onward reflect the application of these accounting standards.」
The Company continues to reflect the revenue recognition accounting standard applied from the beginning of the 48th fiscal year in the presentation of its key management indicators. - FY2023RestatedAnnual report
「From the current fiscal year, the company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards.」
The company continues to apply the revenue recognition accounting standard, reflecting it in the recognition of revenue from long-term warranty services and other items and in the presentation of contract liabilities. - FY2023-Q3RestatedAnnual report
「Because the Accounting Standard for Revenue Recognition and other standards were applied, “advances received,” previously presented under “current liabilities” on the balance sheet for the previous fiscal year, has been included and presented under “contract liabilities” from the first-quarter accounting period.」
The company continues to present contract liabilities in accordance with the revenue recognition accounting standard applied from the first quarter. Contract liabilities totaled ¥4,238 million for the cumulative third-quarter period. - FY2023-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the current first-quarter accounting period. Revenue is now 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. As a result, with respect to extended warranty services, the company has changed from recognizing a provision for product warranties to prepare for future costs to identifying extended warranty services as a separate performance obligation and recognizing revenue over a specified period throughout the warranty term. Accordingly, the provision for product warranties was fully reversed at the beginning of the current first-quarter accounting period.」
The company applied the revenue recognition accounting standard from the beginning of the first-quarter accounting period and changed to a method under which revenue from long-term warranty services is recognized over the warranty period by treating them as separate performance obligations. As a result of the application, quarterly sales decreased by ¥260 million, cost of sales increased by ¥1 million, operating profit, ordinary profit and profit before income taxes each decreased by ¥261 million, and retained earnings at the beginning of the period decreased by ¥2,705 million. Contract liabilities of ¥4,537 million were also recorded.