Uncertainty in Revenue Estimates Under the Percentage-of-Completion Method
First written in FY2021. 3 of 10 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2024: 9 of 64 companies on the "Worse" side.
21 other companies' latest entry also says "Other".
- FY2026-H1Updated revenue recognised over time during the interim period to ¥3.723 billionAnnual report
「Revenue from contracts with customers ¥1,649,106 thousand ¥3,723,425 thousand ¥5,372,531 thousand」
Revenue recognized over time under the revenue recognition accounting standard amounted to ¥3,723 million in the current interim consolidated accounting period. - FY2025Updated revenue recognised over time to ¥10.628 billionAnnual report
「Amount recorded in the consolidated financial statements for the current consolidated fiscal year Revenue ¥10,628,068 thousand」
The Company has continued to disclose its method of estimating progress toward satisfying performance obligations based on costs incurred and estimation uncertainties arising from specification changes, changes in outsourcing costs, natural disasters and pandemics. Revenue recognised over time increased from ¥7.293 billion in the previous period to ¥10.628 billion. - FY2025-H1Updated revenue recognised over time during the interim period to ¥3.980 billionAnnual report
「Goods or services transferred over time ¥3,980,234 thousand」
The Company disclosed revenue of ¥3.980 billion for the current interim consolidated accounting period in respect of revenue transferred over time under the revenue recognition standard. - FY2024Updated revenue recognised over time to ¥7.293 billionAnnual report
「Amount recorded in the consolidated financial statements for the current consolidated fiscal year Revenue ¥7,293,605 thousand」
The Company has continued to disclose its method of estimating progress toward satisfying performance obligations based on costs incurred and related uncertainties, and revenue recognised over time increased from ¥7.010 billion in the previous period to ¥7.293 billion. - FY2023Disclosed revenue recognised over time in the first year after consolidationAnnual report
「As performance obligations are satisfied, revenue recognised over time is calculated by estimating the degree of completion at the reporting date based on the proportion of construction costs incurred by the reporting date to total estimated construction costs, and multiplying total estimated construction revenue by the degree of completion.」
Revenue recognised over time in the first year after consolidation was ¥7.010 billion. The Company has continued to disclose revisions to total estimated costs based on comparisons between execution budgets and actual results, as well as estimation uncertainties arising from specification changes, changes in outsourcing costs, natural disasters and pandemics. - FY2023-Q3RestatedAnnual report
「The Group primarily conducts geological, soil, environmental, disaster prevention and marine surveys. Because control transfers to the customer as survey work progresses and the related performance obligations are satisfied over time, the Group estimates the degree of progress toward satisfying performance obligations and recognises revenue over time based on that progress. The method used to estimate progress is primarily an input method based on costs incurred, namely the proportion of costs incurred to total estimated construction costs. However, when the degree of progress toward satisfying performance obligations cannot be reasonably estimated, the cost-recovery method is applied.」
Following consolidation, the Company has continued to estimate the degree of progress toward satisfying performance obligations using an input method based on costs incurred and other methods, and recognise revenue over time. - FY2023-Q2RestatedAnnual report
「The Group primarily conducts geological surveys and soil investigations, as well as environmental, disaster prevention and marine survey operations. Because control of the relevant performance obligations is transferred to customers as the survey work progresses and the obligations are satisfied over a specified period, the Group estimates the progress toward satisfying the performance obligations and recognizes revenue over a specified period based on that progress.」
Following consolidation, the Company has continued to estimate the degree of progress toward satisfying performance obligations and recognise revenue over time. - FY2023-Q1RestatedAnnual report
「The Group primarily conducts geological surveys and soil investigations, as well as environmental, disaster prevention and marine survey operations. Because control of the relevant performance obligations is transferred to customers as the survey work progresses and the obligations are satisfied over a specified period, the Group estimates the progress toward satisfying the performance obligations and recognizes revenue over a specified period based on that progress.」
Following consolidation, the Company has continued to estimate the degree of progress toward satisfying performance obligations and recognise revenue over time. - FY2022Updated revenue recognised as performance obligations are satisfied to ¥7,083,409 thousandAnnual report
「As performance obligations are satisfied, revenue recognised over time is calculated by estimating the degree of completion at the reporting date based on the proportion of construction costs incurred by the reporting date to total estimated construction costs, and multiplying total estimated construction revenue by the degree of completion.」
The Company has continued to disclose estimation uncertainties relating to total construction costs, the degree of completion, changes in outsourcing costs, natural disasters and pandemics, and the applicable full-year revenue was ¥7,083,409 thousand. - FY2021First statedAnnual report
「Revenue under the percentage-of-completion method is calculated by estimating the degree of completion at the reporting date based on the proportion of construction costs incurred by the reporting date to total estimated construction costs, using the cost-to-cost method, and multiplying total estimated construction revenue by the degree of completion.」
For revenue of ¥6,018,907 thousand recognised under the percentage-of-completion method, the Company has for the first time disclosed separately that estimates of total construction costs and the percentage of completion may fluctuate due to specification changes, changes in outsourcing costs, natural disasters and pandemics, potentially having a material effect on the financial statements for the following fiscal year.