Adoption of the Revenue Recognition Accounting Standard for the Fiscal Year Ending May 2022
First written in FY2018. 5 of 7 entries say "Restated". Latest entry: FY2024-Q1.
64 other companies' latest entry also says "Restated".
- FY2024-Q1RestatedAnnual report
「Disaggregated information on revenue from contracts with customers Active pharmaceutical ingredients 5,670 Finished products 6,456 Health foods and other 50 Revenue from contracts with customers 12,178」
The company continues to disclose revenue disaggregated into active pharmaceutical ingredients, finished products, health foods and other categories following the adoption of the revenue recognition accounting standard. - FY2023-Q3RestatedAnnual report
「Information disaggregating revenue from contracts with customers had been omitted through the first three months of the previous fiscal year because there were no significant differences in the nature of revenue and cash flows, timing of recognition, or other factors. It has been included since the end of the previous fiscal year to provide more useful information.」
The company continues to disclose revenue disaggregated into active pharmaceutical ingredients, finished products, health foods and other categories following the adoption of the revenue recognition accounting standard. - FY2023-Q1RestatedAnnual report
「Information disaggregating revenue from contracts with customers had been omitted through the first three months of the previous fiscal year because there were no significant differences in the nature of revenue and cash flows, timing of recognition, or other factors. It has been included since the end of the previous fiscal year to provide more useful information.」
The company continues to disclose revenue disaggregated into active pharmaceutical ingredients, finished products, health foods and other categories following the adoption of the revenue recognition accounting standard. - FY2022-Q3RestatedAnnual report
「As a result, during the first nine months of the current consolidated fiscal year, net sales and cost of sales for the period decreased by ¥6,010.789 million and ¥6,010.793 million, respectively, with no effect on operating income, ordinary income or quarterly income before income taxes.」
Application of the Revenue Recognition Accounting Standard continued. For the first nine months, net sales and cost of sales decreased by ¥6,010.789 million and ¥6,010.793 million, respectively, while there was no effect on profit. - FY2022-Q2RestatedAnnual report
「As a result, during the first six months of the current consolidated fiscal year, net sales and cost of sales for the period decreased by ¥4,202.541 million and ¥4,201.974 million, respectively, with no effect on operating income, ordinary income or quarterly income before income taxes.」
Application of the Revenue Recognition Accounting Standard continued. Net sales and cost of sales for the first six months decreased due mainly to net presentation of transactions in which the company acts as an agent, while there was no effect on profit. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and related standards were applied from the beginning of the first quarter 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. As a result, net sales and cost of sales for the first quarter of the current consolidated fiscal year decreased by ¥2,343.534 million and ¥2,341.764 million, respectively, with no effect on operating income, ordinary income or quarterly income before income taxes.」
The Revenue Recognition Accounting Standard, scheduled under FY2018 to be applied from the beginning of the fiscal year ending May 2022, was implemented. Net sales and cost of sales decreased due mainly to net presentation of transactions in which the company acts as an agent, but there was no effect on profit. - FY2018First statedAnnual report
「This will be applied from the beginning of the fiscal year ending May 2022.」
The report states that the accounting standard for revenue recognition and related standards are scheduled to be applied from the beginning of the fiscal year ending May 2022. The amount of the impact is under assessment.