Adoption of the Revenue Recognition Standard in the Fiscal Year Ending March 2022
First written in FY2021. 2 of 4 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
18 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual 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 Standard”) and related standards from the beginning of the current consolidated fiscal year. Accordingly, revenue is 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.」
The Company implemented the previous year's plan to apply the Revenue Recognition Standard and related standards from the beginning of the fiscal year ending March 2022. As a result of the application, sales decreased by ¥25,812 thousand and operating income and other measures decreased by ¥1,530 thousand. - FY2022-Q3RestatedAnnual 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 Standard”) and related standards from the beginning of the first quarter of the consolidated fiscal year. Accordingly, revenue is 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.」
The Company reconfirmed that it has applied the Revenue Recognition Standard and related standards from the beginning of the first quarter of the consolidated fiscal year. The cumulative third-quarter period also included effects such as a ¥12,844 thousand decrease in sales. - FY2022-Q1AchievedAnnual 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 Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Accordingly, revenue is 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, sales for the cumulative first quarter decreased by ¥6,007 thousand, cost of sales decreased by ¥4,919 thousand, and operating income, ordinary income and profit before income taxes for the quarter each decreased by ¥1,087 thousand. Retained earnings at the beginning of the fiscal year also decreased by ¥927 thousand.」
The Company applied the Revenue Recognition Standard and related standards, which had been scheduled for application in the previous fiscal year, from the beginning of the fiscal year ending March 2022. Revenue recognition was changed to take place when control is transferred, resulting in a disclosed decrease in sales of ¥6,007 thousand, among other effects. - FY2021First statedAnnual report
「With respect to the application of the Accounting Standard for Revenue Recognition and related standards, in accordance with the transitional treatment prescribed in the proviso to paragraph 84 of the Accounting Standard for Revenue Recognition, the cumulative effect of retrospectively applying a new accounting policy before the beginning of the following consolidated fiscal year is added to or deducted from retained earnings at the beginning of that fiscal year, and the new accounting policy is applied from that opening balance. The planned date for applying the Accounting Standard for Revenue Recognition and related standards is the beginning of the fiscal year ending March 2022.」
The Company disclosed for the first time its plan to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022. The impact on retained earnings at the beginning of the fiscal year was described as immaterial.