Adoption of the Revenue Recognition Standard in the Fiscal Year Ending June 2022
First written in FY2019. 5 of 7 entries say "Restated". Latest entry: FY2025.
- FY2025RestatedAnnual report
「The following describes the nature of the principal performance obligations in the group’s main businesses involving revenue from contracts with customers, and the usual point at which each performance obligation is satisfied, or revenue is recognized.」
The company continues to recognize revenue at delivery and other points and present customer-supplied material transactions on a net basis under the revenue recognition accounting standard applied from the fiscal year ending June 2022. - FY2022RestatedAnnual report
「The company applies the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning 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.」
The company continues to apply throughout the year the revenue recognition accounting standard adopted from the beginning of the fiscal year ending June 2022. For customer-supplied material transactions, net sales and cost of sales have each been reduced by ¥2,816,329 thousand. - FY2022-Q3RestatedAnnual report
「For customer-supplied material transactions and similar transactions, in which the company purchases raw materials and other materials from a customer, processes them and sells the processed products back to that customer, the company previously recognized revenue at the gross amount of consideration including the purchase cost of the raw materials and other materials. The company now recognizes revenue at the net amount of consideration excluding those purchase costs. As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales and cost of sales each decreased by ¥2,119,186 thousand.」
The company continues to apply the revenue recognition accounting standard adopted from the first quarter. For customer-supplied material transactions, the change to net presentation reduced net sales and cost of sales by ¥2,119,186 thousand each. - FY2022-Q2RestatedAnnual report
「For customer-supplied material transactions and similar transactions, in which the company purchases raw materials and other materials from a customer, processes them and sells the processed products back to that customer, the company previously recognized revenue at the gross amount of consideration including the purchase cost of the raw materials and other materials. The company now recognizes revenue at the net amount of consideration excluding those purchase costs. As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales and cost of sales each decreased by ¥1,415,714 thousand.」
The company continues to apply the revenue recognition accounting standard adopted from the first quarter. For customer-supplied material transactions, the change to net presentation reduced net sales and cost of sales by ¥1,415,714 thousand each. - 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 company applied the previously planned revenue recognition accounting standards and related guidance from the beginning of the first quarter of the current consolidated fiscal year. For product sales, the revenue recognition point was changed from shipment to delivery and other points, while for customer-supplied material transactions, presentation was changed from gross to net, excluding the purchase cost of raw materials. - FY2020RestatedAnnual report
「We will apply it from the beginning of the fiscal year ending June 2022.」
The company plans to apply the Accounting Standard for Revenue Recognition and its implementation guidance from the beginning of the fiscal year ending June 2022, and continues to assess the impact. - FY2019First statedAnnual report
「We will apply it from the beginning of the fiscal year ending June 2022.」
The company plans to apply the Accounting Standard for Revenue Recognition and its implementation guidance from the beginning of the fiscal year ending June 2022, and is currently assessing the impact on the consolidated financial statements.