Application of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
25 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, third-quarter net sales increased by ¥310,682 thousand, cost of sales increased by ¥131,697 thousand, and gross profit, operating income and quarterly net income before income taxes increased by ¥178,984 thousand each. Retained earnings at the beginning of the period also decreased by ¥135,495 thousand.」
The Company disclosed the impact of the Revenue Recognition Standard, applied from the beginning of the first quarter, on net sales, cost of sales, profit and retained earnings at the beginning of the period as of the third quarter, and has continued its application. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the second quarter increased by ¥270,664 thousand, cost of sales increased by ¥111,097 thousand, and gross profit, operating income and quarterly net income before income taxes increased by ¥159,566 thousand each.」
The Company disclosed the impact of the Revenue Recognition Standard, applied from the beginning of the first quarter, on second-quarter net sales, cost of sales and profit, and has continued to apply the resulting accounting treatment. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current 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.」
The Company applied the Revenue Recognition Standard and related standards from the beginning of the first quarter, which included 1 July 2021. For certain software development and maintenance contracts, revenue is recognized over a specified period, while for certain security product sales classified as agent transactions, the Company changed to net presentation. As a result of the application, quarterly net sales increased by ¥236,428 thousand, cost of sales by ¥156,171 thousand and operating income and other items by ¥80,256 thousand, while retained earnings at the beginning of the period decreased by ¥135,495 thousand.