Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
4 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, compared with before the application of the revenue recognition accounting standard and related standards, the consolidated income statement for the fiscal year shows a ¥531 million decrease in revenue, a ¥566 million decrease in cost of sales, and ¥34 million increases in operating profit, ordinary profit and profit before income taxes.」
The company disclosed the specific full-year impact of the revenue recognition accounting standard on revenue, cost of sales and profit. - FY2022-Q3AdvancedAnnual report
「As a result, revenue for the cumulative third quarter of the fiscal year decreased by ¥470 million, cost of sales decreased by ¥472 million, and operating profit, ordinary profit and profit before income taxes increased by ¥1 million each.」
The company disclosed specific amounts of the impact on revenue, cost of sales and profit for the cumulative third quarter from the revenue recognition accounting standard applied from the first quarter. - FY2022-Q2AdvancedAnnual report
「As a result, revenue for the cumulative second quarter of the fiscal year decreased by ¥93 million, cost of sales decreased by ¥118 million, and operating profit, ordinary profit and profit before income taxes increased by ¥25 million each.」
The company disclosed specific amounts of the impact on revenue and profit for the cumulative second quarter from the revenue recognition accounting standard applied from the first quarter. - FY2022-Q1First statedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current 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 transfers to the customer.」
The revenue recognition accounting standard and related standards were applied from 1 April 2021, changing the recognition of revenue from construction contracts and the presentation of transactions involving consideration received for goods supplied. As a result of the application, first-quarter revenue decreased by ¥33 million and operating profit increased by ¥15 million.