Preparing for Adoption of the Revenue Recognition Standard and IFRS 16
First written in FY2019. 5 of 10 entries say "Restated". Latest entry: FY2025.
44 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「The company is currently assessing the impact on the consolidated financial statements of applying the Accounting Standard for Leases and related standards.」
The company stated that it plans to apply the new lease accounting standard and related standards from the beginning of the fiscal year ending March 2028. The amount of the impact is still being assessed, and additional items have been included in the scope of implementation preparations. - FY2023AdvancedAnnual report
「At an overseas subsidiary that applies U.S. GAAP, ASC 842, “Leases,” has been applied from the current consolidated fiscal year. As a result, lessee lease transactions are, in principle, recognized on the balance sheet as assets and liabilities for all leases.」
An overseas subsidiary began applying U.S. GAAP ASC 842, “Leases,” from the current consolidated fiscal year. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, 26 March 2020) were adopted from the beginning of the first quarter of the 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.」
The Revenue Recognition Standard adopted from the beginning of the first quarter of the fiscal year continues to be applied. The disclosure states that its impact on the financial statements for the cumulative third-quarter period was immaterial. - FY2022-Q1AdvancedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, 26 March 2020) were adopted 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.」
The Revenue Recognition Standard, which had been scheduled for adoption from the fiscal year ending March 2022, was adopted from the beginning of the first quarter of the current fiscal year. The disclosure states that there was no impact on profit or loss or retained earnings. - FY2021RestatedAnnual report
「The scheduled application date for the Accounting Standard for Revenue Recognition and related standards is the beginning of the fiscal year ending March 2022.」
The planned adoption of the revenue recognition standard from the fiscal year ending March 2022 continues to be disclosed. IFRS 16 has already been adopted by the overseas subsidiaries. - FY2020RestatedAnnual report
「A subsidiary applying International Financial Reporting Standards has applied International Financial Reporting Standard 16, Leases, from the current consolidated fiscal year.」
The overseas subsidiaries applied IFRS 16 for the full fiscal year, recognizing increases of ¥543 million in property, plant and equipment, ¥38 million in current liabilities, and ¥526 million in non-current liabilities, as well as a ¥24 million decrease in ordinary profit and other items. The planned adoption of the revenue recognition standard from the fiscal year ending March 2022 continues. - FY2020-Q3RestatedAnnual report
「Subsidiaries applying International Financial Reporting Standards have adopted International Financial Reporting Standard 16, Leases (hereinafter, “IFRS 16”), from the first quarter of the fiscal year. As a result, lessees are generally required to recognize all leases as assets and liabilities on the balance sheet. The adoption of IFRS 16 follows the transitional provisions. Consequently, property, plant and equipment increased by ¥654 million, current liabilities increased by ¥46 million, and non-current liabilities increased by ¥630 million on the consolidated balance sheet for the third quarter. Ordinary profit and profit before income taxes decreased by ¥21 million on the consolidated income statement for the third quarter.」
The overseas subsidiaries continued to recognize the impact of IFRS 16, adopted from the first quarter, in the third quarter. Property, plant and equipment increased by ¥654 million, current liabilities by ¥46 million, and non-current liabilities by ¥630 million, while ordinary profit and other items decreased by ¥21 million. - FY2020-Q2RestatedAnnual report
「Subsidiaries applying International Financial Reporting Standards have adopted International Financial Reporting Standard 16, Leases (hereinafter, “IFRS 16”), from the first quarter of the fiscal year. As a result, lessees are generally required to recognize all leases as assets and liabilities on the balance sheet. The adoption of IFRS 16 follows the transitional provisions. Consequently, property, plant and equipment increased by ¥677 million, current liabilities increased by ¥46 million, and non-current liabilities increased by ¥625 million on the consolidated balance sheet for the second quarter. Ordinary profit and profit before income taxes decreased by ¥18 million on the consolidated income statement for the second quarter.」
The overseas subsidiaries continued to recognize the impact of IFRS 16, adopted from the first quarter, in the second quarter. Property, plant and equipment increased by ¥677 million, current liabilities by ¥46 million, and non-current liabilities by ¥625 million, while ordinary profit and other items decreased by ¥18 million. - FY2020-Q1AdvancedAnnual report
「Subsidiaries applying International Financial Reporting Standards have adopted International Financial Reporting Standard 16, Leases (hereinafter, “IFRS 16”), from the first quarter of the current fiscal year. As a result, lessees are generally required to recognize all leases as assets and liabilities on the balance sheet. The adoption of IFRS 16 follows the transitional provisions. Consequently, property, plant and equipment increased by ¥666 million, current liabilities increased by ¥49 million, and non-current liabilities increased by ¥632 million on the consolidated balance sheet for the first quarter. Ordinary profit and profit before income taxes decreased by ¥15 million on the consolidated income statement for the first quarter.」
The overseas subsidiaries began applying IFRS 16, Leases, from the first quarter of the current fiscal year and recognized the resulting impact, including increases of ¥666 million in property, plant and equipment, ¥49 million in current liabilities, and ¥632 million in non-current liabilities. Adoption of IFRS 16 had progressed to the implementation stage separately from the planned adoption of the revenue recognition standard for the fiscal year ending March 2022. - FY2019First statedAnnual report
「The scheduled application date for the Accounting Standard for Revenue Recognition and related standards is the beginning of the fiscal year ending March 2022.」
The Company plans to adopt the revenue recognition standard from the fiscal year ending March 2022 and IFRS 16, Leases, at overseas subsidiaries from the fiscal year ending March 2020, and states that it is assessing the impact.