Impact of Changes in Accounting Standards and Other Applicable Standards on Operating Results and Financial Position
First written in FY2017. 4 of 14 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2025.
Saxa moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Other".
- FY2025Planned Adoption of Lease Accounting StandardsAnnual report
「“Accounting Standard for Leases” … scheduled to be applied from the beginning of the fiscal year ending March 2028.」
The company plans to apply the new lease accounting standards and other standards from the beginning of the fiscal year ending March 2028, and is currently assessing the amount of their impact on the consolidated financial statements. - FY2025-H1Adoption of the Accounting Standard for Corporate Income Taxes, Resident Taxes and Business TaxesAnnual report
「The change in this accounting policy had no impact on the interim consolidated financial statements.」
The Company states that it applied the accounting standards amended in 2022 and related standards from the beginning of the current interim consolidated accounting period, with no impact on the interim consolidated financial statements. - FY2024-Q2RestatedAnnual report
「The Group had previously valued raw materials and supplies using the specific cost method, with balance sheet amounts reduced to reflect declines in profitability. However, because continuing difficulty in procuring materials and parts prevented planned production and hindered the completion of products, the importance of raw materials and supplies increased. Accordingly, from the previous consolidated fiscal year, the Group changed to the weighted-average cost method, with balance sheet amounts reduced to reflect declines in profitability, in order to calculate period income and expenses and inventory values more appropriately.」
Against the backdrop of difficulty procuring materials and parts, the Group reiterates that it changed the valuation method for raw materials and supplies to the weighted-average cost method from the previous consolidated fiscal year. The profit impact of retrospective application to the cumulative second quarter of the previous fiscal year was also disclosed. - FY2024-Q1Change in Inventory Valuation MethodAnnual report
「The Group had previously valued raw materials and supplies using the specific cost method, with balance sheet amounts reduced to reflect declines in profitability. However, because continuing difficulty in procuring materials and parts prevented planned production and hindered the completion of products, the importance of raw materials and supplies increased. Accordingly, from the previous consolidated fiscal year, the Group changed to the weighted-average cost method, with balance sheet amounts reduced to reflect declines in profitability, in order to calculate period income and expenses and inventory values more appropriately.」
As the importance of raw materials and supplies increased due to difficulty procuring materials and parts, the valuation method was changed from the specific cost method to the weighted-average cost method from the previous consolidated fiscal year. The change was applied retrospectively and also affected operating loss and other items for the same period of the previous year. - FY2023-Q1Adoption of the Implementation Guidance on Fair Value MeasurementAnnual report
「The Group applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the “Fair Value Measurement Accounting Standard Implementation Guidance”) from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Accounting Standard Implementation Guidance, the Group decided to apply prospectively the new accounting policies prescribed therein. This had no impact on the quarterly consolidated financial statements.」
The Group applied the Fair Value Measurement Accounting Standard Implementation Guidance from the beginning of the first quarter, but stated that it had no impact on the quarterly consolidated financial statements. - FY2022MaterialisedAnnual report
「As a result, for the current consolidated fiscal year, net sales decreased by ¥2,416 million, cost of sales decreased by ¥1,870 million, and operating income, ordinary income and net income before income taxes each decreased by ¥179 million, while there was no impact on the opening balance of retained earnings.」
The full-year impact of applying the revenue recognition accounting standard and related requirements was finalized, resulting in a ¥2,416 million decrease in net sales and a ¥179 million decrease in operating income, ordinary income and related items. - FY2022-Q3MaterialisedAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales decreased by ¥2,137 million, cost of sales decreased by ¥1,731 million, operating loss and ordinary loss each increased by ¥136 million, and quarterly net income before income taxes decreased by ¥136 million, while there was no impact on the opening balance of retained earnings.」
The application of the revenue recognition accounting standard and related requirements resulted in a ¥2,137 million decrease in net sales and a ¥136 million decrease in quarterly net income before income taxes for the cumulative third quarter. - FY2022-Q2MaterialisedAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥1,703 million, cost of sales decreased by ¥1,421 million, operating loss and ordinary loss each increased by ¥103 million, and quarterly net income before income taxes decreased by ¥103 million, while there was no impact on the opening balance of retained earnings.」
The impact of applying the revenue recognition accounting standard and related requirements actually arose in the cumulative second quarter, reducing net sales by ¥1,703 million and quarterly net income before income taxes by ¥103 million. - FY2022-Q1MaterialisedAnnual report
「As a result, for the cumulative first quarter of the current consolidated fiscal year, net sales decreased by ¥1,094 million, cost of sales decreased by ¥943 million, and operating loss, ordinary loss and quarterly loss before income taxes each increased by ¥58 million, while there was no impact on the opening balance of retained earnings.」
The Group began applying the revenue recognition accounting standard and related requirements from the beginning of the fiscal year ending March 2022, resulting in an actual decrease of ¥1,094 million in first-quarter net sales and an increase of ¥58 million in operating loss, ordinary loss and related items. - FY2021Planned adoption of the revenue recognition standardAnnual report
「The Accounting Standard for Revenue Recognition and related standards were scheduled to be applied from the beginning of the fiscal year ending March 2022. …The amount of the impact from applying these accounting standards and related requirements was being calculated.」
The Group planned to apply the Accounting Standard for Revenue Recognition and related requirements from the beginning of the fiscal year ending March 2022 and was calculating the amount of the impact. - FY2019RestatedAnnual report
「The Group prepares its accounts in accordance with generally accepted and fair accounting standards. However, if it changes its existing accounting policies as a result of the establishment or amendment of accounting standards, this could adversely affect the Group's results and financial position.」
The potential change in accounting policies accompanying the establishment or amendment of accounting standards, and its impact on results and financial position, are reaffirmed as a risk. - FY2019-Q1Application of revised accounting standardsAnnual report
「The “Partial Amendments to the Accounting Standard for Tax Effect Accounting” (Accounting Standard No. 28, 16 February 2018) and related standards have been applied from the beginning of the first quarter of the current consolidated fiscal year. Deferred tax assets are presented under investments and other assets, and deferred tax liabilities under non-current liabilities.」
The Group applied partial amendments to the accounting standard for tax effect accounting and related requirements from the beginning of the first quarter, and changed the presentation classification of deferred tax assets and liabilities. No impact on results was disclosed. - FY2018RestatedAnnual report
「The Group's financial statements are prepared in accordance with generally accepted and fair accounting standards.」
The Group continues to disclose the preparation of financial statements in accordance with accounting standards and the risk of their impact on results and financial position when accounting standards are established or amended. - FY2017First statedAnnual report
「The Group prepares its accounts in accordance with generally accepted and fair accounting standards. However, if it changes its existing accounting policies as a result of the establishment or amendment of accounting standards, this could adversely affect the Group's results and financial position.」
The potential change in accounting policies accompanying the establishment or amendment of accounting standards, and its impact on results and financial position, are described as a new risk.