Application of New Accounting Standards, Including Revenue Recognition and Fair Value Measurement
First written in FY2021. 4 of 6 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2024.
44 other companies' latest entry also says "Advanced".
- FY2024AdvancedAnnual report
「Accounting Standard for Leases (ASBJ Statement No. 34, 13 September 2024, Accounting Standards Board of Japan) (2) Scheduled date of application The standard will be applied from the beginning of the fiscal year ending December 2028. (3) Impact of applying the accounting standard and related guidance The impact of applying the Accounting Standard for Leases and related standards on the consolidated financial statements is currently being assessed.」
The Company has disclosed that it plans to apply the new lease accounting standard from the beginning of the fiscal year ending December 2028 and is assessing its impact on the financial statements. - FY2022AdvancedAnnual report
「As a result, revenue for the current consolidated fiscal year decreased by ¥1,156 million, cost of sales decreased by ¥1,150 million, and operating profit, ordinary profit and profit before income taxes for the year each decreased by ¥6 million.」
The Company reflected the application of the Revenue Recognition Accounting Standard for the full year, recording a ¥1,156 million decrease in revenue and a ¥6 million decrease in operating profit and related measures. The US subsidiary also applied ASU 2016-02, Leases, and recognized property, plant and equipment and liabilities. - FY2022-Q3AdvancedAnnual report
「As a result, revenue for the cumulative third quarter of the current consolidated fiscal year decreased by ¥861 million, cost of sales decreased by ¥854 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥7 million. The US overseas consolidated subsidiary has applied US GAAP ASU 2016-02, Leases, since the first quarter of the current consolidated fiscal year. Accordingly, assets and liabilities are recognized for, in principle, all leases in lessee transactions.」
The impact of applying the Revenue Recognition Accounting Standard was updated to a ¥861 million decrease in revenue and a ¥7 million decrease in operating profit and related measures for the cumulative third quarter. The US subsidiary also applied ASU 2016-02, Leases, and recognized lease assets and liabilities. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter of the current consolidated fiscal year decreased by ¥566 million, cost of sales decreased by ¥559 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥6 million.」
For the Revenue Recognition Accounting Standard applied from the first quarter, the Company reported a ¥566 million decrease in revenue and a ¥6 million decrease in operating profit and related measures for the cumulative second quarter. - FY2022-Q1AdvancedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the Revenue Recognition Accounting Standard) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Accordingly, 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 transfers to the customer.」
The Company applied the Revenue Recognition Accounting Standard from 1 January 2022, changing the timing of revenue recognition for domestic and export sales and the presentation of transactions involving consideration paid to suppliers on a net basis. As a result of the application, revenue for the quarter decreased by ¥304 million and operating profit and other measures decreased by ¥6 million. The Company also applied the accounting standard for fair value measurement, while its US overseas subsidiary applied ASU 2016-02, Leases. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on the Accounting Standard for Revenue Recognition will be applied from the beginning of the fiscal year ending December 2022. The impact of applying these accounting standards and related guidance on the consolidated financial statements is currently being assessed.」
The Company has newly disclosed that it plans to apply the revenue recognition standard, fair value measurement standard and lease standard for overseas subsidiaries from the fiscal year ending December 2022, and is assessing their impact.