Change in Revenue Recognition Method Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 3 entries say "Restated". Latest entry: FY2022-Q3.
12 other companies' latest entry also says "Other".
- FY2022-Q3Updated for the impact on the cumulative third quarterAnnual report
「The revenue recognition accounting standard and related standards have been applied in accordance with the transitional treatment prescribed in the proviso to Paragraph 84 of the Revenue Recognition Accounting Standard. The cumulative effect of retrospectively applying the new accounting policy before the beginning of the first quarter of the current consolidated fiscal year was added to or deducted from retained earnings at the beginning of the first quarter, and the new accounting policy was applied from that opening balance. As a result, net sales for the cumulative third quarter of the current consolidated fiscal year increased by ¥2,981 million, cost of sales increased by ¥2,028 million, and operating income, ordinary income and profit before income taxes increased by ¥952 million each. In addition, the opening balance of retained earnings increased by ¥1,235 million.」
The impact of the revenue recognition accounting standard applied from the first quarter has been updated for the cumulative third quarter: net sales increased by ¥2,981 million, operating income, ordinary income and other items increased by ¥952 million, and the opening balance of retained earnings increased by ¥1,235 million. - FY2022-Q2RestatedAnnual report
「As a result of applying the revenue recognition accounting standard and related standards, net sales for the cumulative second quarter of the current consolidated fiscal year increased by ¥11,171 million, cost of sales increased by ¥8,879 million, and operating income, ordinary income and profit before income taxes increased by ¥2,291 million each. In addition, the opening balance of retained earnings increased by ¥1,235 million.」
The impact of the revenue recognition accounting standard applied from the first quarter has been quantified for the cumulative second quarter. Net sales increased by ¥11,171 million, while operating income, ordinary income and other items increased by ¥2,291 million. - FY2022-Q1First statedAnnual report
「The Group adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the point when control of promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The revenue recognition accounting standard and related standards were applied from the beginning of the fiscal year, and the method of recognizing revenue for research, consulting and software development, among other activities, was changed to recognize revenue over a specified period in accordance with the satisfaction of performance obligations. As a result of the adoption, net sales for the current quarter increased by ¥7,516 million, while operating income, ordinary income and other items each increased by ¥2,857 million.