Application of Disclosures on Significant Accounting Estimates
First written in FY2021. . Latest entry: FY2026.
- FY2026Change in amounts subject to significant estimates and increase in defense equipment revenueAnnual report
「The consolidated income statement for the current consolidated fiscal year includes ¥8,356.758 million of revenue recognized over time.」
As significant accounting estimates, the company continued to disclose the valuation of work in process for paper-making machinery and revenue recognition based on the progress of performance obligations for defense equipment. Revenue from defense equipment recognized over time increased from ¥6,318.605 million in the previous fiscal year to ¥8,356.758 million. - FY2025Continued expansion and greater detail of items subject to significant estimatesAnnual report
「In preparing the consolidated financial statements, the Group makes accounting estimates that affect its financial results and other matters. These accounting estimates are based on assumptions considered reasonable in light of past results and the latest available information. Although management continually reviews these assumptions, actual results may differ because the estimates involve uncertainties concerning the future.」
In addition to valuing work in process for paper-making machinery, the progress of performance obligations relating to the manufacture and sale of defense equipment was specified as a significant estimate. Revenue from defense equipment recognized over time amounted to ¥6,318 million, and the company stated that revisions may be required due to changes in future costs and operating levels. - FY2023Expansion and greater detail of items subject to significant estimatesAnnual report
「Significant accounting estimates and the assumptions used in making those estimates」
For significant accounting estimates, the company specifically disclosed the amounts and key assumptions relating not only to work in process and other items previously covered, but also to the progress of performance obligations in the manufacture and sale of defense equipment and the valuation of raw materials and supplies. - FY2021First statedAnnual report
「We applied the “Accounting Standard for Disclosure of Accounting Estimates” (Accounting Standard No. 31, 31 March 2020) from the consolidated financial statements for the fiscal year-end and included notes on significant accounting estimates in the consolidated financial statements.」
Notes on significant accounting estimates were applied from the consolidated financial statements at year-end, and the assumptions used to value work in process, raw materials and supplies were disclosed.