Application of ASC 606 under U.S. GAAP
First written in FY2020-Q1. 1 of 4 entries say "Restated". Latest entry: FY2020.
2 other companies' latest entry also says "Other".
- FY2020Updated with full-year impactAnnual report
「As a result, beginning retained earnings for the current consolidated fiscal year decreased by ¥696 million. In addition, net sales for the current consolidated fiscal year increased by ¥2,301 million, and net income before income taxes and other adjustments increased by ¥409 million.」
The full-year impact of applying ASC 606 to consolidated subsidiaries that adopt U.S. GAAP was reflected, and the amounts affecting beginning retained earnings, net sales, and net income before income taxes and other adjustments were updated. - FY2020-Q3Update to the cumulative third-quarter impact of applicationAnnual report
「As a result, beginning retained earnings for the cumulative third quarter of the current consolidated fiscal year decreased by ¥696 million. In addition, net sales for the cumulative third quarter increased by ¥446 million, while quarterly net income before income taxes and other adjustments decreased by ¥40 million.」
The application of ASC 606 continued. For the cumulative third quarter, beginning retained earnings decreased by ¥696 million, net sales increased by ¥446 million, and quarterly net income before income taxes and other adjustments decreased by ¥40 million. - FY2020-Q2RestatedAnnual report
「ASC 606, Revenue from Contracts with Customers, has been applied from the first quarter at a consolidated subsidiary that adopts U.S. GAAP. Accordingly, revenue is recognized when the promised goods or services are transferred to the customer, at an amount reflecting the consideration the subsidiary expects to be entitled to receive in exchange for those goods or services.」
The application of ASC 606 continued. For the cumulative first half, beginning retained earnings decreased by ¥696 million, net sales increased by ¥455 million, and quarterly net income before income taxes and other adjustments increased by ¥56 million. - FY2020-Q1First statedAnnual report
「ASC 606, Revenue from Contracts with Customers, has been applied from the first quarter of the current consolidated fiscal year at a consolidated subsidiary that adopts U.S. GAAP. Accordingly, revenue is recognized when the promised goods or services are transferred to the customer, at an amount reflecting the consideration the subsidiary expects to be entitled to receive in exchange for those goods or services.」
ASC 606 was applied from the first quarter at a consolidated subsidiary that adopts U.S. GAAP, changing the timing and measurement of revenue recognition. As a result, beginning retained earnings decreased by ¥696 million, while quarterly net sales decreased by ¥1,797 million and quarterly net loss before income taxes and other adjustments increased by ¥637 million.