Preparing for Adoption of New Revenue Recognition and Accounting Policy-Related Standards
First written in FY2020. 5 of 7 entries say "Restated". Latest entry: FY2023.
18 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The company and its consolidated subsidiaries primarily manufacture and sell automotive parts. For product sales, revenue is recognized when the products are delivered to the customer or when the customer accepts them.」
The revenue recognition policy for product sales, mold sales and other revenue streams has continued following application of the Revenue Recognition Accounting Standard. - FY2022RestatedAnnual report
「The company applies the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the current 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 full-year application of the Revenue Recognition Accounting Standard from the start of the current fiscal year was confirmed. Net-basis recognition excluding customer-supplied parts reduced sales for the current fiscal year by ¥29,795 million compared with the previous standard. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were applied from the start of the first quarter of the current consolidated fiscal year. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, sales in Japan for the nine months ended 31 December decreased by ¥17,336 million and cost of sales decreased by ¥17,336 million compared with the previous standard.」
The application of the Revenue Recognition Accounting Standard from the start of the first quarter of the current consolidated fiscal year was reconfirmed, and the impact of the application was disclosed: sales and cost of sales in Japan decreased by ¥17,336 million compared with the previous standard. - 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 accounting standard was applied from the start of the fiscal year ending March 2022. For transactions involving customer-supplied parts, the company changed to recognizing revenue on a net basis excluding the purchase cost of parts, reducing sales in Japan by ¥6,463 million compared with the previous standard. - FY2021RestatedAnnual report
「In accordance with the transitional treatment specified in the proviso to paragraph 84 of the Accounting Standard for Revenue Recognition, we will apply the new accounting policy from the start of the fiscal year ending March 2022. The impact on retained earnings at the start of that fiscal year will be immaterial.」
The plan to apply the revenue recognition standard from the start of the fiscal year ending March 2022 was maintained, and the impact of its application on retained earnings at the start of the fiscal year is expected to be immaterial. - FY2021-Q2RestatedAnnual report
「As the Accounting Standard for Revenue Recognition will apply from the fiscal year ending March 2022, our net sales, including parts supplied by customers, are expected to change.」
Based on the planned application of the revenue recognition standard from the fiscal year ending March 2022, the expected change in the presentation of net sales has also been reflected in the management indicators of the medium-term management plan. - FY2020First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on the Accounting Standard for Revenue Recognition are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company disclosed for the first time its plans to apply the revenue recognition standard from the start of the fiscal year ending March 2022. It also planned to apply the standard concerning disclosures of accounting policies and other matters from the end of the fiscal year ending March 2021.