Change in the method of recognizing revenue due to the adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 2 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2025-H1.
25 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「There were no material changes in the status of the Group’s R&D activities during the six-month consolidated accounting period.」
The Group reaffirms that there were no material changes in its research and development activities. - FY2022-Q3AdvancedAnnual report
「As a result, the opening balance of retained earnings increased by ¥66 million because the cumulative effect was reflected in net assets at the beginning of the first-quarter consolidated accounting period. Compared with the previous method, net sales for the nine months ended 31 December decreased by ¥6,192 million, cost of sales decreased by ¥5,998 million, selling, general and administrative expenses decreased by ¥309 million, operating profit increased by ¥115 million, and ordinary profit and profit before income taxes increased by ¥137 million each.」
The cumulative effects on net sales, expenses, operating profit and other items for the nine months ended 31 December arising from the application of the revenue recognition accounting standard have been disclosed, and accounting treatment under the standard continues to be applied. - FY2022-Q2AdvancedAnnual report
「The following main changes were made to revenue recognition as a result. (1) Contracts for which performance obligations are satisfied over time: revenue is now recognised over a specified period as the performance obligation is satisfied. (2) Transactions in which the group's role in providing goods or services to customers qualifies it as an agent: revenue is now recognised on a net basis as the amount received from customers less the amount paid to suppliers. Compared with the previous method, for the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥3,669 million, cost of sales decreased by ¥3,496 million, selling, general and administrative expenses decreased by ¥185 million, operating profit increased by ¥11 million, and ordinary profit and profit before income taxes increased by ¥25 million each.」
Regarding the application of the Revenue Recognition Standard, the company specified the changes involving the allocation of construction contract revenue over the contract period and net recognition of agent transactions, and disclosed the impact on net sales and other items for the cumulative second quarter. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the Revenue Recognition Standard) and other standards from the beginning of the current first quarter of the consolidated fiscal year. Revenue is now recognised 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. Compared with the previous method, for the cumulative first quarter of the current consolidated fiscal year, net sales decreased by ¥1,614 million, cost of sales decreased by ¥1,534 million, selling, general and administrative expenses decreased by ¥92 million, operating profit increased by ¥13 million, and ordinary profit and profit before income taxes increased by ¥19 million each.」
The company applied the Revenue Recognition Standard and other standards from the beginning of the current first quarter of the consolidated fiscal year and changed its revenue recognition methods, including allocating construction contract revenue over the contract period and recognising agent transactions on a net basis. As a result, net sales decreased by ¥1,614 million, while operating profit increased by ¥13 million.