Application of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
15 other companies' latest entry also says "Other".
- FY2022Update on full-year impact of applicationAnnual report
「As a result, the cumulative effect was reflected in net assets at the beginning of the current consolidated fiscal year, increasing the opening balance of retained earnings by ¥32 million. Compared with the previous method, net sales for the current consolidated fiscal year increased by ¥371 million, cost of sales decreased by ¥95 million, selling, general and administrative expenses decreased by ¥65 million, and operating profit, ordinary profit, and profit before income taxes increased by ¥533 million each.」
The company disclosed the full-year effects of the revenue recognition accounting standard applied from the beginning of FY2022, including a ¥32 million increase in the opening balance of retained earnings and a ¥533 million increase in operating profit and related measures. - FY2022-Q3RestatedAnnual report
「As a result, the cumulative effect was reflected in net assets at the beginning of the first quarter of the current consolidated fiscal year, increasing the opening balance of retained earnings by ¥32 million. Compared with the previous method, net sales for the first nine months of the current consolidated fiscal year increased by ¥386 million, cost of sales decreased by ¥15 million, selling, general and administrative expenses decreased by ¥48 million, and operating profit, ordinary profit, and profit before income taxes increased by ¥450 million each.」
The revenue recognition accounting standard applied from the first quarter continued to be applied during the first nine months, and the cumulative effect and the major effects for the current period have been updated. - FY2022-Q2RestatedAnnual report
「The application of the revenue recognition accounting standard and related guidance follows the transitional treatment specified in the proviso to Paragraph 84 of the revenue recognition accounting standard. The cumulative effect of retrospectively applying the new accounting policy to periods before the beginning of the first quarter of the current consolidated fiscal year was added to or deducted from retained earnings at the beginning of that quarter, and the new accounting policy was applied from that opening balance.」
The revenue recognition accounting standard applied from the first quarter continued to be applied during the first six months. Due to the cumulative effect, the opening balance of retained earnings increased by ¥32 million, net sales decreased by ¥254 million, and operating profit and other measures increased by ¥4 million each. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year, and recognizes revenue 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 revenue recognition accounting standard and related standards from the beginning of the fiscal year and changed its methods of recognizing revenue for mold transactions, sales rebates, transactions involving the provision of goods for consideration, and principal-agent transactions. As a result of the application, the opening balance of retained earnings increased by ¥32 million, while first-quarter net sales decreased by ¥31 million and operating profit, ordinary profit, and profit before income taxes increased by ¥2 million each.