Preparation for Applying the New Revenue Recognition Standard in the Fiscal Year Ending March 2022
First written in FY2020. 2 of 5 entries say "Restated". Latest entry: FY2022.
83 other companies' latest entry also says "Other".
- FY2022Finalization of Full-Year ImpactAnnual report
「As a result, for the consolidated fiscal year, revenue decreased by ¥260.039 million and cost of sales decreased by ¥344.003 million. Operating profit, ordinary profit and profit before income taxes increased by ¥83.963 million each. The opening balance of retained earnings also increased by ¥81.080 million.」
The full-year impact of applying the new revenue recognition accounting standard was finalized. Revenue decreased by ¥260.039 million, operating profit and other relevant amounts increased by ¥83.963 million, and the opening balance of retained earnings increased by ¥81.080 million. - FY2022-Q3RestatedAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, revenue increased by ¥252.989 million and cost of sales increased by ¥46.859 million. Operating profit, ordinary profit and profit before income taxes increased by ¥206.129 million each. The opening balance of retained earnings also increased by ¥81.080 million.」
The impact of continued application of the new revenue recognition accounting standard was disclosed for the cumulative third quarter, including increases of ¥252.989 million in revenue, ¥206.129 million in operating profit and other relevant amounts, and ¥81.080 million in the opening balance of retained earnings. - 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 new revenue recognition accounting standard was applied from the beginning of the fiscal year ending March 2022. Revenue recognition was changed from recognition upon customer acceptance to recognition based on progress over a specified period, and transactions as an agent were presented on a net basis. Revenue decreased by ¥179.179 million, operating profit and other relevant amounts decreased by ¥29.909 million, and the opening balance of retained earnings increased by ¥81.080 million. Presentation of contract assets and contract liabilities also began. - FY2021RestatedAnnual report
「The effective date for applying the Accounting Standard for Revenue Recognition and other relevant standards is the beginning of the fiscal year ending March 2022.」
The company stated that it would apply the new revenue recognition standards and other relevant standards from the beginning of the fiscal year ending March 2022, and that the impact on the consolidated financial statements remained under assessment. - FY2020First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards will be applied from the beginning of the fiscal year ending March 2022.」
The company disclosed that it planned to apply the new revenue recognition standards and other relevant standards from the beginning of the fiscal year ending March 2022, and that the impact on the consolidated financial statements was still being assessed.