Future adoption of the revenue recognition standard
First written in FY2018. 5 of 7 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「The revenue recognition accounting standard and related guidance were applied from the beginning of the current consolidated fiscal year, and revenue is recognized at the point when control of the promised goods or services transfers to the customer, at the amount expected to be received in exchange for those goods or services.」
Applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022. Due mainly to the net presentation of agent transactions, revenue decreased by ¥53.046 million and operating income and other measures decreased by ¥893 thousand. - FY2022-Q3RestatedAnnual report
「• For revenue related to the Metal Products business, revenue was previously recognized at the gross amount of consideration received from customers. For transactions classified as agent transactions, the recognition method has been changed to recognize revenue at the net amount after deducting payments to suppliers from the gross amount of consideration received.」
Reconfirmed the accounting treatment under the Accounting Standard for Revenue Recognition applied from the beginning of the first quarter, under which agent transactions in the Metal Products business are presented on a net basis. As a result of the application, revenue for the cumulative third quarter decreased by ¥39.503 million, while operating income and other measures decreased by ¥750 thousand. - FY2022-Q2RestatedAnnual report
「The principal changes resulting from the application of the Accounting Standard for Revenue Recognition and related standards are as follows: • For revenue related to the Metal Products business, revenue was previously recognized at the gross amount of consideration received from customers. For transactions classified as agent transactions, the recognition method has been changed to recognize revenue at the net amount after deducting payments to suppliers from the gross amount of consideration received.」
Reconfirmed the accounting treatment under the Accounting Standard for Revenue Recognition applied from the beginning of the first quarter, under which agent transactions in the Metal Products business are presented on a net basis, and the resulting impact, including a ¥27.655 million decrease in revenue for the cumulative second quarter. - FY2022-Q1AchievedAnnual report
「We have applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, revenue for the cumulative first quarter decreased by ¥6.654 million, cost of sales decreased by ¥4.240 million, and selling, general and administrative expenses decreased by ¥1.576 million. Operating income, ordinary income, and profit before income taxes and other adjustments for the quarter each decreased by ¥838 thousand.」
Applied the Accounting Standard for Revenue Recognition and related standards, which had previously been scheduled for future application, from the beginning of the first quarter of the fiscal year ending March 2022, and disclosed the impact on revenue and profit. - FY2021RestatedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
Reconfirmed the policy of applying the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022. The impact was still being assessed. - FY2019RestatedAnnual report
「We plan to apply the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 30 March 2018) and the “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 30 March 2018) from the beginning of the fiscal year ending March 2022.」
Reconfirmed the policy of applying the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022. The impact was still being assessed. - FY2018First statedAnnual report
「We plan to apply the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 30 March 2018) and the “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 30 March 2018) from the beginning of the fiscal year ending March 2022.」
Disclosed plans to apply the new accounting standards for revenue recognition from the beginning of the fiscal year ending March 2022. The impact was still being assessed at the time of preparation.