Application of the Accounting Standard for Revenue Recognition and Change in Revenue Recognition for Export Transactions
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2022Full-Year Impact ConfirmedAnnual report
「As a result, compared with before applying the revenue recognition accounting standard and other relevant standards, consolidated net sales for the current consolidated fiscal year increased by ¥10.632 million and cost of sales increased by ¥16.333 million, while operating profit, ordinary profit and profit before income taxes each decreased by ¥5.700 million.」
The company has disclosed the full-year impact of the revenue recognition accounting standard adopted from the first quarter on net sales, cost of sales and profit. - FY2022-Q3RestatedAnnual report
「As a result, for the cumulative third-quarter period of the current consolidated fiscal year, net sales increased by ¥161.653 million, cost of sales by ¥140.963 million, and operating profit, ordinary profit and profit before income taxes by ¥20.689 million each.」
The company has continued applying the revenue recognition accounting standard adopted from the first quarter and has disclosed its impact on the cumulative period. - FY2022-Q2RestatedAnnual report
「The company applied the revenue recognition accounting standard and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year, and began recognising 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. As a result, for export transactions, revenue is recognised when the products and merchandise arrive at the customer and ownership transfers.」
The company has continued applying the revenue recognition accounting standard, which was adopted from the first quarter, in the second quarter. For the cumulative second-quarter period, the application increased net sales by ¥79.496 million and operating profit and other items by ¥8.527 million. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year, and began recognising 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. As a result, for export transactions, revenue is recognised when the products and merchandise arrive at the customer and ownership transfers.」
The company applied the revenue recognition accounting standard from the first quarter and changed the timing of revenue recognition for export transactions. As a result of the application, net sales increased by ¥220.517 million, operating profit increased by ¥44.287 million and the opening balance of retained earnings decreased by ¥30.755 million.