Future Application of the Accounting Standard for Revenue Recognition
First written in FY2018. 2 of 7 entries say "Restated". Latest entry: FY2022.
82 other companies' latest entry also says "Other".
- FY2022Annual impact of adoption finalisedAnnual report
「As a result, net sales and cost of sales for the fiscal year decreased by ¥1,884 million and ¥1,874 million, respectively. The impact on selling, general and administrative expenses, raw materials and supplies, and other current liabilities was immaterial. There was also no impact on operating loss, ordinary loss or loss before income taxes for the year.」
As the annual adoption result for the revenue recognition accounting standard, decreases of ¥1,884 million in net sales and ¥1,874 million in cost of sales were finalised, with no impact on operating profit or other profit and loss measures. - FY2022-Q3Cumulative impact of adoption updatedAnnual report
「As a result, for some revenue, we had previously recognised revenue on a gross basis. However, after determining our role in providing goods or services to customers, namely whether we acted as principal or agent, we changed to recognising revenue on a net basis. In addition, consideration paid to customers, such as certain sales commissions, had previously been treated as selling, general and administrative expenses, but we changed to deducting it from the transaction price. For transactions involving the provision of materials for consideration, we had previously recognised the derecognition of materials provided for consideration. However, when we have an obligation to repurchase the materials provided, we changed to a method under which their derecognition is not recognised. As a result, net sales and cost of sales for the nine months ended 31 December decreased by ¥1,370 million and ¥1,362 million, respectively. The impact on selling, general and administrative expenses, raw materials and supplies, and other current liabilities was immaterial. There was also no impact on operating profit, ordinary profit or profit before income taxes for the quarter.」
Following adoption of the revenue recognition accounting standard, the treatment of principal-versus-agent assessments, consideration paid to customers and transactions involving the provision of materials was clarified. For the nine months ended 31 December, net sales decreased by ¥1,370 million and cost of sales by ¥1,362 million. There was no impact on operating profit or other profit measures. - FY2022-Q2Quantifying the impact of applicationAnnual report
「As a result, for some revenue, we had previously recognised revenue on a gross basis. However, after determining our role in providing goods or services to customers, namely whether we acted as principal or agent, we changed to recognising revenue on a net basis. ... As a result, net sales and cost of sales for the six months ended 30 September decreased by ¥897 million and ¥892 million, respectively, with no impact on operating profit, ordinary profit or profit before income taxes for the quarter.」
Following adoption of the revenue recognition accounting standard, net sales decreased by ¥897 million and cost of sales by ¥892 million as a result of the principal-versus-agent assessment and other factors, while there was no impact on operating profit, ordinary profit or other profit measures. - 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, which had been scheduled to apply from the beginning of the fiscal year ending March 2022, was applied from the beginning of the first quarter of the current fiscal year. - FY2020RestatedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The planned adoption of the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 continues, and the amount of the impact is still under evaluation. - FY2019RestatedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The planned adoption of the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 continues. - FY2018First statedAnnual report
「Scheduled adoption date The standard is scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The revenue recognition accounting standards and related standards were scheduled to be adopted from the beginning of the fiscal year ending March 2022, with the amount of the impact still under evaluation.