Application of the Accounting Standards for Revenue Recognition and Fair Value Measurement, etc.
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q2.
126 other companies' latest entry also says "Restated".
- FY2022-Q2RestatedAnnual report
「As a result, for sale-and-purchase transactions involving supplied materials that qualify as repurchase agreements, we changed from recognizing sales and cost of sales when the materials were supplied to recognizing revenue net, limited to the amount equivalent to the processing fee.」
Continues to describe the method applied from the beginning of the first quarter under the revenue recognition accounting standard, whereby sale-and-purchase transactions involving supplied materials are recognized net at the amount equivalent to the processing fee. The Company states that there was no impact on profit or loss for the cumulative second quarter. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter of the current fiscal year, we applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards, and began recognizing revenue at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. ... From the beginning of the first quarter of the current fiscal year, we also applied the Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, 4 July 2019) and related standards, and began applying the new accounting policies prescribed by those standards prospectively.」
Applied the revenue recognition accounting standard and related standards and the fair value measurement accounting standard and related standards from the beginning of the first quarter of the current fiscal year. Although the revenue recognition method changed, the Company states that there was no impact on the opening balance or profit or loss for the cumulative first quarter.