Future Adoption of the Accounting Standard for Revenue Recognition
First written in FY2018. 5 of 8 entries say "Restated". Latest entry: FY2023-Q3.
93 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「The Company adopted the “Accounting Standard for Fair Value Measurement” and other standards from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment under Paragraph 19 of the standard and Paragraph 44-2 of the “Accounting Standard for Financial Instruments,” the new accounting policies prescribed by the standards will be applied prospectively. There is no impact on the quarterly consolidated financial statements.」
The accounting standards for fair value measurement and other related standards continue to be applied from the beginning of the first quarter of the consolidated fiscal year, and it is stated that they have no impact on the quarterly consolidated financial statements. - FY2022-Q3RestatedAnnual report
「The Company adopted the “Accounting Standard for Fair Value Measurement” and other standards from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment under Paragraph 19 of the standard and Paragraph 44-2 of the “Accounting Standard for Financial Instruments,” the new accounting policies prescribed by the standards will be applied prospectively. There is no impact on the quarterly consolidated financial statements.」
The company continues to apply the Fair Value Measurement Accounting Standard and other standards applied from the beginning of the first quarter of the consolidated fiscal period, and states that there was no impact on the quarterly consolidated financial statements. - FY2021RestatedAnnual report
「As a result, for the consolidated fiscal year, net sales decreased by ¥204 million and cost of sales decreased by ¥200 million, while operating income, ordinary income and profit before income taxes decreased by ¥3 million each. Retained earnings at the beginning of the fiscal year decreased by ¥9 million.」
The company continues to apply the revenue recognition accounting standard and discloses the full-year results and impacts of recognizing revenue upon delivery, recognizing agent transactions on a net basis, and not recognizing revenue from compensated provision transactions. - FY2021-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020, hereinafter the "Revenue Recognition Accounting Standard") and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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, for sales of merchandise and products, the company has changed its method of recognizing revenue from recognition at shipment, as previously practiced, to recognition upon delivery. For transactions conducted as an agent, the company has changed its method from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis. In addition, for transactions involving the compensated provision of goods that qualify as repurchase agreements, the company has changed its method from recognizing consideration received from the recipient as revenue to not recognizing such revenue. As a result, for the cumulative third quarter of the consolidated fiscal year, net sales decreased by ¥130 million and cost of sales decreased by ¥132 million, while operating income, ordinary income and profit before income taxes decreased by ¥1 million each. Retained earnings at the beginning of the fiscal year decreased by ¥9 million.」
The revenue recognition accounting standard applied from the beginning of the first quarter of the consolidated fiscal year continues to be applied. Revenue is recognized upon delivery, agent transactions are recognized on a net basis, and revenue from compensated provision transactions is not recognized; the amounts of the impacts for the cumulative third quarter are disclosed. - FY2021-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020, hereinafter the "Revenue Recognition Accounting Standard") and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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 revenue recognition accounting standard applied from the beginning of the first quarter of the consolidated fiscal year continues to be applied in the second quarter, including recognition upon delivery and net recognition for agent transactions. For the cumulative second quarter, the company reports decreases of ¥128 million in net sales and ¥4 million in operating income and other profit measures. - FY2021-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 31 March 2020, hereinafter the "Revenue Recognition Accounting Standard") and other standards have been applied from the beginning of the first quarter of the consolidated fiscal year. 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, for sales of merchandise and products, the company has changed its method of recognizing revenue from recognition at shipment, as previously practiced, to recognition upon delivery. For transactions conducted as an agent, the company has changed its method from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis. In addition, for transactions involving the compensated provision of goods that qualify as repurchase agreements, the company has changed its method from recognizing consideration received from the recipient as revenue to not recognizing such revenue.」
The revenue recognition accounting standard scheduled for adoption in the previous fiscal year was applied from the beginning of the first quarter of the consolidated fiscal year. The timing of recognition was changed from shipment to delivery, agent transactions are presented on a net basis, and revenue from compensated provision transactions is no longer recognized. As a result of the adoption, net sales decreased by ¥92 million, operating income and other profit measures decreased by ¥6 million, and retained earnings at the beginning of the fiscal year decreased by ¥9 million. - FY2019Change in scheduled adoption dateAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 30 March 2018) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the fiscal year ending March 2021.」
The scheduled adoption date for the revenue recognition standard is explicitly stated as the beginning of the fiscal year ending March 2021. The scheduled fiscal year of adoption has changed from the previous reference to the fiscal year ending March 2022. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan, Accounting Standard No. 29, 30 March 2018) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The new accounting standards and other guidance on revenue recognition are scheduled to be applied from the beginning of the fiscal year ending March 2022, and the amount of the impact is under assessment.