Change in Revenue Recognition Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 5 entries say "Restated". Latest entry: FY2023-Q2.
27 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「We 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 and began recognizing revenue at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
The company continues to apply the revenue recognition accounting standard. The second-quarter report does not describe any further changes to the revenue recognition method. - FY2022Disclosure of the full-year impact of applicationAnnual report
「As a result, net sales for the current consolidated fiscal year decreased by ¥824 million, cost of sales decreased by ¥793 million, operating profit decreased by ¥31 million, and ordinary profit and profit before income taxes decreased by ¥41 million each. The opening balance of retained earnings also decreased by ¥394 million.」
The company disclosed the impact of applying the revenue recognition accounting standard for the full fiscal year: net sales decreased by ¥824 million, operating profit by ¥31 million, ordinary profit and related items by ¥41 million, and opening retained earnings by ¥394 million. - FY2022-Q3Disclosure of the Impact of Applying Revenue Recognition in the Cumulative Third QuarterAnnual report
「As a result, net sales for the cumulative third quarter of the current consolidated fiscal year increased by ¥131 million, while cost of sales decreased by ¥244 million. Operating profit increased by ¥375 million, and ordinary profit and profit before income taxes increased by ¥371 million each. The opening balance of retained earnings also decreased by ¥394 million.」
The company continued applying the revenue recognition accounting standard and disclosed its impact for the cumulative third quarter, including a ¥131 million increase in net sales and a ¥375 million increase in operating profit. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥622 million, cost of sales decreased by ¥195 million, operating profit decreased by ¥427 million, and ordinary profit and profit before income taxes decreased by ¥434 million each. The opening balance of retained earnings also decreased by ¥394 million.」
The company continued applying the revenue recognition accounting standard and disclosed the impact for the cumulative second quarter: net sales decreased by ¥622 million, operating profit by ¥427 million, and ordinary profit and related items by ¥434 million. - FY2022-Q1First statedAnnual report
「We 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 and began recognizing revenue at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
Product sales changed from recognition at shipment to recognition at delivery, agency transactions changed from recognition of the total consideration to recognition of the commission, and construction contracts changed to recognition over time in line with satisfaction of performance obligations. As a result of the application, first-quarter net sales decreased by ¥618 million, operating profit decreased by ¥431 million, and retained earnings at the beginning of the fiscal year decreased by ¥394 million.