Change in Revenue Recognition from Shipment to Customer Acceptance Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2020-Q1. 9 of 13 entries say "Restated". Latest entry: FY2025.
2 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「In the manufacture and sale of precision processing equipment, the Company manufactures equipment used for fine processing of semiconductors, electronic components and other products. It identifies as its performance obligation the provision of equipment meeting the specifications and quality promised to the customer, determines that the performance obligation is satisfied when control of the equipment transfers to the customer upon customer acceptance, and recognizes revenue at that point.」
For precision processing equipment, the company continues to recognize revenue when customers accept the equipment. - FY2024RestatedAnnual report
「In the manufacture and sale of precision processing equipment, the Company manufactures equipment used for fine processing of semiconductors, electronic components and other products. It identifies as its performance obligation the provision of equipment meeting the specifications and quality promised to the customer, determines that the performance obligation is satisfied when control of the equipment transfers to the customer upon customer acceptance, and recognizes revenue at that point.」
For precision processing equipment, the company continues to recognize revenue when customers accept the equipment. - FY2023RestatedAnnual report
「In the manufacture and sale of precision processing equipment, the Company manufactures equipment used for fine processing of semiconductors, electronic components and other products. It identifies as its performance obligation the provision of equipment meeting the specifications and quality promised to the customer, determines that the performance obligation is satisfied when control of the equipment transfers to the customer upon customer acceptance, and recognizes revenue at that point.」
The accounting treatment of recognizing revenue upon customer acceptance for precision processing equipment continues. Contract liabilities increased from ¥27,622 million at the end of the previous fiscal year to ¥39,164 million at the end of the current fiscal year. - FY2022RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards have been applied from the beginning of the current consolidated fiscal year.」
The revenue recognition standard and related standards were applied from the beginning of the current consolidated fiscal year, and the presentation change to contract liabilities and other items continues. - FY2022-Q3RestatedAnnual report
「Because the accounting standards for revenue recognition were applied, "Notes and accounts receivable—trade," which had been presented under "Current assets" in the consolidated balance sheet for the previous consolidated fiscal year, has been presented from the first quarter as "Notes and accounts receivable—trade and contract assets."」
Following application of the revenue recognition standard and related standards, notes and accounts receivable continue to be presented in a manner that includes contract assets. - FY2022-Q2RestatedAnnual report
「Because the accounting standards for revenue recognition were applied, "Notes and accounts receivable—trade," which had been presented under "Current assets" in the consolidated balance sheet for the previous consolidated fiscal year, has been presented from the first quarter as "Notes and accounts receivable—trade and contract assets."」
The presentation changes associated with applying the revenue recognition standard and related standards continue. It has been confirmed that notes and accounts receivable are presented together with contract assets as notes and accounts receivable and contract assets. - FY2022-Q1AdvancedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and related standards have been applied from the beginning of the current first quarter consolidated accounting period. The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 30 March 2018) and related standards were early adopted from the beginning of the 81st fiscal period.」
The revenue recognition framework based on the standard dated 31 March 2020 and related standards was applied from the beginning of the current first quarter consolidated accounting period. The revenue recognition framework early adopted from the 81st fiscal period has progressed to application under the new standard. - FY2021-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 30 March 2018) and related standards have been applied from the beginning of the first quarter consolidated accounting period of the previous fiscal year.」
It has been confirmed that the revenue recognition standard and related standards have continued to be applied from the beginning of the first quarter consolidated accounting period of the previous fiscal year. - FY2021-Q1RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 30 March 2018) and related standards have been applied from the beginning of the first quarter consolidated accounting period of the previous fiscal year.」
The notes to the key management indicators confirm that the revenue recognition standard and related standards have continued to be applied from the beginning of the first quarter consolidated accounting period of the previous fiscal year. - FY2020AdvancedAnnual report
「As a result, for the current fiscal year, sales increased by ¥1,862 million, cost of sales increased by ¥861 million, selling, general and administrative expenses increased by ¥33 million, operating income increased by ¥967 million, and ordinary income and profit before income taxes increased by ¥1,612 million each. In addition, the beginning balance of retained earnings decreased by ¥9,411 million.」
The change in the revenue recognition standard from recognition upon shipment to recognition upon customer acceptance was applied for the full fiscal year, and its impact on sales, operating income and other items, as well as retained earnings at the beginning of the period, was disclosed in the annual results. - FY2020-Q3RestatedAnnual report
「Accordingly, for sales of precision processing equipment and other products, revenue, previously recognized upon shipment, is now recognized upon customer acceptance. As a result, for the cumulative third quarter of the current fiscal year, sales increased by ¥2,934 million, cost of sales increased by ¥1,483 million, selling, general and administrative expenses increased by ¥48 million, operating income increased by ¥1,402 million, and ordinary income and profit before income taxes increased by ¥1,885 million each. In addition, the beginning balance of retained earnings decreased by ¥9,411 million.」
The accounting policy of changing the timing of revenue recognition from shipment to customer acceptance continues to be applied, and the impact for the cumulative third quarter has been updated and disclosed. The effects on sales, operating income and other items, as well as retained earnings at the beginning of the period, are specified. - FY2020-Q2AdvancedAnnual report
「As a result, for the cumulative second quarter of the current fiscal year, sales increased by ¥3,194 million, cost of sales increased by ¥1,468 million, selling, general and administrative expenses increased by ¥59 million, operating income increased by ¥1,666 million, and ordinary income and profit before income taxes increased by ¥2,045 million each. In addition, the beginning balance of retained earnings decreased by ¥9,411 million.」
The Company additionally disclosed the impact of applying the revenue recognition standard for the cumulative second quarter. Sales increased by ¥3,194 million and operating income by ¥1,666 million, while retained earnings at the beginning of the period decreased by ¥9,411 million, among other effects, making the impact of the accounting policy change concrete in cumulative results. - FY2020-Q1First statedAnnual report
「The Company applied the revenue recognition standard and related standards from the beginning of the current first quarter consolidated accounting period 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. Accordingly, for sales of precision processing equipment and other products, revenue, previously recognized upon shipment, is now recognized upon customer acceptance.」
The Company applied the revenue recognition standard and related standards from the first quarter beginning on 1 April 2019 and changed the timing of revenue recognition for precision processing equipment and other products from shipment to customer acceptance. The application increased quarterly sales by ¥604 million and reduced operating income by ¥192 million, while retained earnings at the beginning of the period decreased by ¥9,411 million.