Planned 2022 Adoption of New Revenue Recognition and Fair Value Measurement Standards
First written in FY2019. 5 of 8 entries say "Restated". Latest entry: FY2023-Q3.
126 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「The Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the "Fair Value Measurement Guidance") was applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the new accounting policy prescribed by the Fair Value Measurement Guidance has been applied prospectively. The change in accounting policy had no impact on the quarterly consolidated financial statements.」
The application of the Fair Value Measurement Guidance and the explanation that the change in accounting policy had no impact on the quarterly consolidated financial statements have continued. - FY2023-Q2RestatedAnnual report
「The Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the "Fair Value Measurement Guidance") was applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the new accounting policy prescribed by the Fair Value Measurement Guidance has been applied prospectively. The change in accounting policy had no impact on the quarterly consolidated financial statements.」
The explanation that the Fair Value Measurement Guidance has been applied and has no impact on the financial statements continues. - FY2023-Q1RestatedAnnual report
「The Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the "Fair Value Measurement Guidance") was applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the new accounting policy prescribed by the Fair Value Measurement Guidance has been applied prospectively. The change in accounting policy had no impact on the quarterly consolidated financial statements.」
The Fair Value Measurement Guidance was applied from the beginning of the current quarter, and it was disclosed that the change in accounting policy had no impact on the quarterly consolidated financial statements. - FY2022RestatedAnnual report
「As a result, compared with before application of the revenue recognition standard and other standards, the consolidated balance sheet for the current consolidated fiscal year shows a ¥47.695 million increase in contract assets. The consolidated income statement for the current consolidated fiscal year shows a ¥37.776 million decrease in net sales, a ¥33.380 million decrease in cost of sales, and a ¥4.397 million decrease in operating income, ordinary income and profit before income taxes each.」
The annual impact of applying the revenue recognition standard was disclosed, comprising a ¥47.695 million increase in contract assets, a ¥37.776 million decrease in net sales and a ¥4.397 million decrease in operating income and other profit measures. The fair value measurement standard and other standards were also applied from the beginning of the current fiscal year, with no impact on the consolidated financial statements. - FY2022-Q3RestatedAnnual report
「As a result, for the nine-month period of the current fiscal year, net sales increased by ¥43.481 million, cost of sales increased by ¥6.192 million, and operating income, ordinary income and profit before income taxes increased by ¥37.290 million each.」
The disclosed impact of applying the revenue recognition standard and other standards includes a ¥43.481 million increase in net sales, a ¥37.290 million increase in operating income and other profit measures, and a ¥14.690 million increase in the opening balance of retained earnings. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer.」
The revenue recognition standard and other standards scheduled for application from the beginning of the fiscal year ending June 2022 were actually applied from the beginning of the first quarter of the current consolidated fiscal year. For performance obligations satisfied over a period of time, revenue recognition was changed to a method based on the degree of progress. - FY2020ReframedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending June 2022.」
The scheduled application of the revenue recognition standard, fair value measurement standard and other standards has changed from the beginning of the fiscal year ending December 2022 to the beginning of the fiscal year ending June 2022. - FY2019First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 30 March 2018) and the Accounting Standard for Fair Value Measurement (Accounting Standards Board of Japan Statement No. 30, 4 July 2019), among others, are scheduled to be applied from the beginning of the fiscal year ending December 2022.」
The revenue recognition standard, fair value measurement standard and other standards are scheduled to be applied from the beginning of the fiscal year ending December 2022, with the amount of the impact still under assessment as of the date of preparation.