Change in revenue recognition method due to the adoption of the revenue recognition accounting standard and related standards
First written in FY2022-Q1. 1 of 4 entries say "Restated". Latest entry: FY2022.
12 other companies' latest entry also says "Other".
- FY2022Annual impact updatedAnnual report
「As a result, compared with before applying the Revenue Recognition Standard and other standards, the consolidated balance sheet for the current consolidated fiscal year showed total assets down by ¥161 million and liabilities up by ¥248 million. The consolidated income statement for the current consolidated fiscal year showed net sales down by ¥205 million, cost of sales up by ¥204 million, and operating profit, ordinary profit and profit before income taxes down by ¥409 million each.」
The annual impact of applying the Revenue Recognition Standard and other standards was stated as a ¥205 million decrease in net sales, a ¥409 million decrease in operating profit and other measures, a ¥161 million decrease in total assets, and a ¥248 million increase in liabilities. - FY2022-Q3Cumulative third-quarter impact updatedAnnual report
「As a result, net sales for the cumulative third quarter of the current consolidated fiscal year decreased by ¥0 million, cost of sales increased by ¥439 million, and operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥439 million each. The opening balance of retained earnings also decreased by ¥1,472 million.」
The Company continued applying the Revenue Recognition Standard and other standards. For the cumulative third quarter, the impact on net sales was ¥0 million, operating profit and other measures decreased by ¥439 million, and the opening balance of retained earnings decreased by ¥1,472 million. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥294 million, cost of sales increased by ¥288 million, and operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥583 million each. The opening balance of retained earnings also decreased by ¥1,472 million.」
The Company continued applying the Revenue Recognition Standard and other standards introduced in the first quarter. For the first half, net sales decreased by ¥294 million, operating profit and other measures decreased by ¥583 million, and the opening balance of retained earnings decreased by ¥1,472 million. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020, hereinafter the "Revenue Recognition Standard") and other standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer. Accordingly, upfront contract payments and milestone income under technology licensing agreements in the pharmaceutical business are recognised as revenue when the related performance obligations are satisfied at a point in time. For obligations not satisfied at a point in time, the consideration is recorded as a contract liability and recognised as revenue over a period of time as the performance obligations under the technology licensing agreement are satisfied.」
The Company applied the Revenue Recognition Standard and other standards from the beginning of the first quarter of the fiscal year ending March 2022, changing its revenue recognition methods for technology licensing agreements, the information services business, the construction contracting business and other operations. As a result, quarterly net sales increased by ¥330 million, operating profit and ordinary profit increased by ¥74 million each, and the opening balance of retained earnings decreased by ¥1,472 million.