Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「As a result, revenue for the cumulative third-quarter consolidated period decreased by ¥41 million, cost of sales decreased by ¥36 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥5 million.」
The company continued to apply the Accounting Standard for Revenue Recognition and disclosed decreases of ¥41 million in revenue and ¥5 million in operating profit and related items for the cumulative third-quarter period. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards were applied from the beginning of the 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 transfers to the customer.」
The company applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first-quarter consolidated accounting period. For construction contracts, revenue recognition was changed to recognition over the period in which performance obligations are satisfied, while export sales were changed to recognition at the destination agreed with the customer. Revenue decreased by ¥45 million, operating profit and related items decreased by ¥5 million, and retained earnings at the beginning of the period increased by ¥5 million.