Adoption of the revenue recognition accounting standard
First written in FY2023-Q2. 2 of 4 entries say "Restated". Latest entry: FY2024-Q3.
91 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「During the nine months ended 30 November, the company changed its estimates for projects for which it became reasonably possible to estimate the progress toward satisfying performance obligations as the projects progressed and various contractual terms were finalized. It changed the accounting method from the cost recovery method to an input method based on total costs, and recognized the difference from the previous estimates in net sales. As a result, compared with the previous method, gross profit, operating profit, ordinary profit and profit before income taxes for the nine months ended 30 November each increased by ¥120.735 million.」
For contract development projects whose progress could be reasonably estimated, the company continued to change the accounting treatment from the cost recovery method to an input method based on total costs. The impact on profit was reported as ¥120.735 million. - FY2024-Q2Change in estimates for revenue recognition on contract developmentAnnual report
「During the six months ended 31 August, the company changed its estimates for projects for which it became reasonably possible to estimate the progress toward satisfying performance obligations as the projects progressed and various contractual terms were finalized. It changed the accounting method from the cost recovery method to an input method based on total costs, and recognized the difference from the previous estimates in net sales. As a result, compared with the previous method, gross profit, operating profit, ordinary profit and profit before income taxes for the six months ended 31 August each increased by ¥120.725 million.」
For contract development projects whose progress could be reasonably estimated, the company changed its revenue recognition method from the cost recovery method to an input method based on total costs, increasing profit by ¥120.725 million. - FY2023-Q3RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized 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.」
The company has continued to apply the revenue recognition accounting standard and related standards from the beginning of the fiscal year, recognizing revenue when control is transferred to the customer. - FY2023-Q2First statedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized 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.」
The company applied the revenue recognition accounting standard and related standards from the beginning of the first quarter of the consolidated fiscal year beginning 1 March 2022, and applied an accounting policy under which revenue is recognized when control is transferred to the customer.