Changes in Revenue Recognition and Presentation Due to the Adoption of the Revenue Recognition Standard
First written in FY2023-Q1. . Latest entry: FY2023.
2 other companies' latest entry also says "Other".
- FY2023Update to the effects of applying accounting standardsAnnual report
「As a result, net sales for the consolidated fiscal year decreased by ¥253.383 million, cost of sales decreased by ¥294.245 million, and operating profit, ordinary profit and profit before income taxes increased by ¥40.861 million each. The impact on per-share information is presented in the relevant section. The opening balance of retained earnings decreased by ¥18.840 million.」
The full-year impact of applying the revenue recognition accounting standard was presented, showing a ¥253.383 million decrease in net sales, a ¥40.861 million increase in operating profit and other figures, and a ¥18.840 million decrease in opening retained earnings. - FY2023-Q3Update to the effects of applying accounting standardsAnnual report
「As a result, net sales for the cumulative third quarter decreased by ¥26.888 million, cost of sales decreased by ¥71.144 million, and operating profit, ordinary profit and profit before income taxes increased by ¥44.255 million each. Quarterly earnings per share increased by ¥3.46. The opening balance of retained earnings decreased by ¥18.840 million.」
The impact of applying the revenue recognition accounting standard for the cumulative third quarter was updated to show a ¥26.888 million decrease in net sales, a ¥44.255 million increase in operating profit and other figures, and a ¥3.46 increase in earnings per share. - FY2023-Q2Update to the effects of applying accounting standardsAnnual report
「As a result, net sales for the cumulative second quarter increased by ¥31.405 million, cost of sales decreased by ¥15.236 million, and operating profit, ordinary profit and profit before income taxes increased by ¥46.642 million each. The opening balance of retained earnings decreased by ¥18.840 million.」
The impact of applying the revenue recognition accounting standard for the cumulative second quarter was updated to show an increase of ¥31.405 million in net sales and ¥46.642 million in operating profit and other figures, and a decrease of ¥18.840 million in opening retained earnings. - FY2023-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year. The main change is that, for contracts under which performance obligations are satisfied over a specified period and for which revenue was previously recognized upon acceptance under the acceptance-basis method, the Company now estimates the progress toward satisfying the performance obligation and recognizes revenue over the specified period based on that progress.」
The Company applied the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 and changed its accounting treatment to recognize revenue for performance obligations satisfied over a specified period, present transactions as an agent on a net basis, and allocate initial costs over the relevant period. As a result of the application, first-quarter net sales increased by ¥6.050 million and operating profit and other figures increased by ¥21.637 million.