Recognition of Custom-Built Home Sales through Application of the Percentage-of-Completion Method
First written in FY2019-Q2. 12 of 14 entries say "Restated". Latest entry: 2026-06-05.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- 2026-06-05RestatedGeneral Meetings of Shareholders
「Revenue from the custom-built housing business relates to construction contracts for building custom-built homes. Under construction contracts with customers, we have a performance obligation to carry out construction work. These contracts are transactions in which the performance obligation is satisfied over time, and, except for projects completed in a very short period, revenue is recognized according to the progress toward satisfying the performance obligation.」
The accounting treatment of recognizing revenue for custom-built homes according to construction progress has been reaffirmed. - FY2026-H1RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2025RestatedAnnual report
「Revenue from the custom-built housing business consists of revenue from goods over which control is transferred to customers over a specified period.」
Following adoption of the revenue recognition accounting standard, the accounting treatment of recognizing custom-built housing revenue over time has been reconfirmed. - FY2024-Q3RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2024-Q1RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2023RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2023-Q2RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2023-Q1RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed the classification of subdivision housing as revenue recognized at a point in time and custom-built housing as revenue recognized over time. - FY2022RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed that subdivision housing is classified as revenue recognized at a point in time, while custom-built housing is classified as revenue recognized over time. - FY2022-Q3RestatedAnnual report
「Revenue in the subdivision housing business consists of revenue from goods for which control transfers to the customer at a point in time, while revenue in the custom-built home business consists of revenue from goods for which control transfers to the customer over a period of time.」
Following adoption of the revenue recognition accounting standard, disclosures have reconfirmed that subdivision housing is classified as revenue recognized at a point in time, while custom-built housing is classified as revenue recognized over time. - FY2022-Q1ReframedAnnual report
「Previously, for construction contracts, the company applied the percentage-of-completion method to projects whose outcome for the work completed could be reliably estimated, and the completed-contract method to other projects. From the beginning of the current first quarter accounting period, however, it changed to a method under which, for performance obligations satisfied over a period of time, excluding very short-term projects, it estimates the progress toward satisfying the performance obligation and recognizes revenue over that period based on the estimated progress.」
The method changed from distinguishing between the percentage-of-completion method and the completed-contract method to recognizing revenue based on progress toward satisfying performance obligations under the revenue recognition accounting standard. - FY2020RestatedAnnual report
「For construction projects whose outcome through the end of the fiscal year can be reliably estimated, revenue from completed construction is recognized using the percentage-of-completion method. The completed-contract method is applied to other projects.」
The company has reaffirmed its accounting treatment of applying the percentage-of-completion method and completed-contract method to revenue from completed construction for custom-built homes and other projects according to the nature of the work. - FY2019RestatedAnnual report
「For construction contracts for which the outcome of the work through the end of the fiscal year can be reliably estimated, excluding very short-term projects, revenue from completed construction is recognized using the percentage-of-completion method, with progress estimated using the cost-to-cost method. The completed-contract method is applied to other construction projects.」
The full-year filing continues to state that the percentage-of-completion method and completed-contract method are applied to revenue from completed construction for custom-built homes and other projects according to the nature of the work. - FY2019-Q2First statedAnnual report
「In the custom-built home business, although handovers increased by 4 homes year on year, revenue declined because the percentage-of-completion method had been applied since the previous fiscal year.」
The application of the percentage-of-completion method since the previous fiscal year is explained independently for the first time as a factor behind the decline in revenue despite the increase in handovers.