Application of the revenue recognition standard and changes to revenue recognition methods
First written in FY2022-Q1. 2 of 5 entries say "Restated". Latest entry: FY2023.
31 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the 73rd fiscal year, and the key management indicators and other figures for the 73rd fiscal year are based on application of those standards.」
The annual disclosure reconfirms that the revenue recognition standard was applied from the beginning of the 73rd fiscal year and that the key management indicators are figures after application of the standard. - FY2022RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the 73rd fiscal year, and the key management indicators and other figures for the 73rd fiscal year are based on application of those standards.」
The annual disclosure confirms that the revenue recognition standard was applied from the beginning of the 73rd fiscal year and that the key indicators for FY2022 are figures after application of the standard. - FY2022-Q3Cumulative disclosure of the impact of the revenue recognition standardAnnual report
「As a result, revenue for the cumulative third quarter period increased by ¥151.882 million, cost of sales increased by ¥157.451 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥5.568 million.」
The Company disclosed that the revenue recognition standard applied from the first quarter increased cumulative third-quarter revenue and cost of sales and reduced operating profit and other measures by ¥5.568 million. - FY2022-Q2Cumulative disclosure of the impact of the revenue recognition standardAnnual report
「As a result, revenue for the cumulative second quarter period decreased by ¥47.653 million, cost of sales decreased by ¥46.434 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥1.218 million.」
The Company disclosed that the revenue recognition standard applied from the first quarter reduced cumulative second-quarter revenue by ¥47.653 million and operating profit and other measures by ¥1.218 million. - FY2022-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the first quarter of the current fiscal year. Revenue is recognised at the amount expected to be received in exchange for the promised goods or services when control of those goods or services is transferred to the customer. Accordingly, for contracts to manufacture production equipment, the Company previously applied the percentage-of-completion method when the outcome of the construction contract could be reliably estimated. It has changed to a method under which revenue is recognised over time as the performance obligation to transfer goods or services to the customer is satisfied, when control of the goods or services is transferred to the customer over a specified period. For overseas sales and other transactions, revenue was previously recognised upon shipment or at other such times, but the Company has changed to recognising revenue upon acceptance.」
From 1 April 2021, the Company applied the revenue recognition standard and other relevant standards, changing the revenue recognition method for production equipment construction contracts and the timing of revenue recognition for overseas sales. As a result, first-quarter revenue decreased by ¥38.86 million, while operating profit and other measures increased by ¥0.84 million.