Future Adoption of the Revenue Recognition Standard
First written in FY2018. 1 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2022.
83 other companies' latest entry also says "Other".
- FY2022Clarification of the impact of annual applicationAnnual report
「As a result, retained earnings increased by ¥44.178 million at the beginning of the fiscal year. In addition, revenue for the fiscal year decreased by ¥19.106 million and cost of sales decreased by ¥5.181 million, resulting in decreases of ¥13.925 million each in operating profit, ordinary profit and profit before income taxes for the fiscal year.」
Regarding application of the Accounting Standard for Revenue Recognition, the company disclosed specific annual amounts for the impact on retained earnings, revenue and profit. - FY2022-Q3Update to the impact of application for the nine months ended the third quarterAnnual report
「As a result, retained earnings increased by ¥44.178 million at the beginning of the first quarter. In addition, revenue for the nine months ended the third quarter decreased by ¥21.714 million and cost of sales decreased by ¥5.489 million, resulting in decreases of ¥16.224 million each in operating profit, ordinary profit and profit before income taxes for the quarter.」
For the Accounting Standard for Revenue Recognition already applied, the company additionally disclosed the impact on revenue, cost of sales and profit for the nine months ended the third quarter. - FY2022-Q2Impact of adoption quantifiedAnnual report
「As a result, for consigned products sold through product placement, the company changed from recognizing revenue when sales personnel confirmed consumption at the placement location to recognizing revenue based on a reasonable estimate of consumption at the placement location through the end of the fiscal period. As a result, retained earnings increased by ¥44.178 million at the beginning of the first quarter. In addition, revenue for the six months ended the second quarter decreased by ¥1.133 million and cost of sales decreased by ¥516 thousand, resulting in decreases of ¥617 thousand each in operating profit, ordinary profit and profit before income taxes for the quarter.」
For the Accounting Standard for Revenue Recognition already applied, the company disclosed specific amounts for the impact of the revenue recognition method for product placement sales on retained earnings and current-quarter results. - FY2022-Q1AchievedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first-quarter accounting period. Revenue is recognised 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 company applied the Accounting Standard for Revenue Recognition and related standards, which had been scheduled for application from the beginning of the fiscal year ending March 2022, from the beginning of the first quarter of the current fiscal year. It also changed the revenue recognition method for consigned products sold through product placement and other items. - FY2021AdvancedAnnual report
「The standards will be applied from the beginning of the fiscal year ending March 2022. The impact of this change on operating profit is expected to be immaterial. The company is currently examining the impact of the change on the financial statements.」
The company specified plans to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022, and plans to change the timing of revenue recognition for products delivered on consignment and other products. It also indicated that the impact on operating profit is expected to be immaterial. - FY2018First statedAnnual report
「The standards will be applied from the beginning of the fiscal year ending March 2022. The company is currently assessing the impact on the financial statements of applying the Accounting Standard for Revenue Recognition and related standards.」
The company plans to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022 and is assessing the impact on the financial statements.