Response to New Accounting Standards, Including Revenue Recognition and Fair Value Measurement
First written in FY2021. 3 of 5 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2022.
12 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual 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 revenue recognition accounting standard and related standards were applied from the beginning of the current consolidated fiscal year. Revenue decreased by ¥6,524 million, while operating profit and other items increased by ¥34 million. The transition to the new accounting standards has completed the implementation stage. - FY2022-Q3AdvancedAnnual report
「As a result, revenue for the nine-month period ended the third quarter of the current consolidated fiscal year decreased by ¥5,560 million, cost of sales decreased by ¥5,582 million, and operating profit, ordinary profit and profit before income taxes increased by ¥21 million each.」
The impact after applying the revenue recognition accounting standard and related standards was disclosed as the results for the nine-month period. Revenue decreased by ¥5,560 million, while operating profit, ordinary profit and other items increased by ¥21 million each. - FY2022-Q2AdvancedAnnual report
「As a result, revenue for the six-month period ended the second quarter of the current consolidated fiscal year decreased by ¥4,172 million, cost of sales decreased by ¥4,197 million, and operating profit, ordinary profit and profit before income taxes increased by ¥24 million each.」
The impact after applying the revenue recognition accounting standard and related standards was disclosed as the first-half results. Revenue decreased by ¥4,172 million, while operating profit, ordinary profit and other items increased by ¥24 million each. - FY2022-Q1AdvancedAnnual 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 began applying the revenue recognition and fair value measurement accounting standards. Applying the revenue recognition standard reduced revenue by ¥3,323 million and increased operating profit, ordinary profit and other items by ¥13 million each. - FY2021First statedAnnual report
「The impact of applying the Accounting Standard for Revenue Recognition and related guidance on the consolidated financial statements is immaterial.」
It has for the first time collectively disclosed its policy and expected impact regarding the application of new accounting standards for revenue recognition, fair value measurement, inventory valuation and financial instruments from the beginning of the fiscal year ending March 2022.