Preparing for the 2022 Adoption of the Revenue Recognition Standard
First written in FY2019. 4 of 6 entries say "Restated". Latest entry: FY2022.
85 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, revenue for the current consolidated fiscal year decreased by ¥191,479 million, cost of sales decreased by ¥183,217 million, selling, general and administrative expenses decreased by ¥8,285 million, operating income increased by ¥23 million, and ordinary income and profit before income taxes for the year increased by ¥26 million each.」
Application of the Revenue Recognition Accounting Standard and related standards continued throughout the fiscal year, reducing revenue by ¥191,479 million while increasing operating income by ¥23 million. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the current third-quarter consolidated cumulative period decreased by ¥149,277 million, cost of sales decreased by ¥143,096 million, selling, general and administrative expenses decreased by ¥6,292 million, operating income increased by ¥111 million, and ordinary income and profit before income taxes for the quarter increased by ¥112 million each.」
Application of the Revenue Recognition Accounting Standard and related standards continued, reducing revenue by ¥149,277 million while increasing operating income by ¥111 million for the third-quarter cumulative period. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and related standards were applied from the beginning of the current first-quarter consolidated accounting period. 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 is transferred to the customer. As a result, revenue for the current first-quarter consolidated cumulative period decreased by ¥46,487 million, cost of sales decreased by ¥44,566 million, selling, general and administrative expenses decreased by ¥2,003 million, operating income increased by ¥81 million, and ordinary income and profit before income taxes for the quarter increased by ¥82 million each.」
The Revenue Recognition Accounting Standard and related standards, which had been scheduled for application from the beginning of the fiscal year ending March 2022, were applied from the beginning of the current first-quarter consolidated accounting period. The recognition method for transactions as an agent and other transactions was changed, reducing revenue by ¥46,487 million while increasing operating income by ¥81 million. - FY2021RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and the Guidance on Accounting Standard for Revenue Recognition (Accounting Standard Application Guidance No. 30, 26 March 2021) are scheduled to be applied from the beginning of the fiscal year ending March 2022. The amount of the impact is being assessed as of the preparation of these consolidated financial statements.」
The planned application of the revenue recognition standard from the beginning of the fiscal year ending March 2022 and the ongoing assessment of its impact continued. - FY2020RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and the Guidance on Accounting Standard for Revenue Recognition (Accounting Standard Application Guidance No. 30, 31 March 2020) are scheduled to be applied from the beginning of the fiscal year ending March 2022. The amount of the impact is being assessed as of the preparation of these consolidated financial statements.」
The planned application of the revenue recognition standard from the beginning of the fiscal year ending March 2022, together with the five-step revenue recognition process and the ongoing assessment of its impact, continued to be disclosed. - FY2019First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 30 March 2018) and the Guidance on Accounting Standard for Revenue Recognition (Accounting Standard Application Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the fiscal year ending March 2022. The amount of the impact is being assessed as of the preparation of these consolidated financial statements.」
The first disclosure stated that the new accounting standards for revenue recognition were scheduled to be applied from the beginning of the fiscal year ending March 2022, and that the five-step revenue recognition process and the impact of adoption were being assessed.