Adoption of the Revenue Recognition Standard for the Fiscal Year Ending March 2022
First written in FY2019. 2 of 5 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now 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 Company reconfirmed that it had applied the revenue recognition accounting standards and other relevant standards from the beginning of the first quarter of the consolidated fiscal year, together with the revenue recognition methods. - FY2022-Q2RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the first quarter of the consolidated fiscal year. Details are provided in “Part 4. Financial Information, 1. Quarterly Consolidated Financial Statements, Notes (Changes in Accounting Policies).”」
The Company reconfirmed that it had applied the revenue recognition accounting standards and other relevant standards from the beginning of the first quarter of the consolidated fiscal year, together with the note on the impact of their application. - FY2022-Q1AchievedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year and began recognizing revenue 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 Company applied the revenue recognition accounting standards and other relevant standards from the beginning of the fiscal year ending March 2022. It also changed the accounting treatment for domestic sales recognized at shipment and transactions involving the provision of materials for a consideration, and disclosed the impact on net sales and other items for the first quarter. - FY2021AdvancedAnnual report
「Sales of these products are generally recognized for domestic sales at the time of shipment, because the period from shipment until control transfers to the customer is normally short, and for overseas sales at the time of shipment or other points specified by the applicable trade terms. Measurement is based on the scheduled settlement amount of transactions with customers. Accordingly, the timing of revenue recognition is not expected to change significantly before and after the application of these accounting standards and other relevant standards. However, the impact of applying the Accounting Standard for Revenue Recognition and other relevant standards on the consolidated financial statements is still being evaluated.」
In preparation for applying the standards in the fiscal year ending March 2022, the Company provided greater detail on the current revenue recognition timing for domestic and overseas sales and the status of its impact assessment. - FY2019First statedAnnual report
「The revenue-recognition accounting standard and related standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The Group planned to apply the revenue recognition standard and related standards from the beginning of the fiscal year ending March 2022 and was evaluating the impact at that time.