Application of the Accounting Standard for Revenue Recognition to Domestic Companies
First written in FY2021. 2 of 4 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now recognized 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.」
The application of the Accounting Standard for Revenue Recognition, which began at the start of FY2022-Q1, continued. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now recognized 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.」
The application of the Accounting Standard for Revenue Recognition, which began at the start of FY2022-Q1, continued. The applicable method recognizes revenue from equipment manufacturing and similar activities over time, and revenue from component and materials sales and similar activities at a point in time. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter of the current consolidated fiscal year, we adopted the 'Accounting Standard for Revenue Recognition' (ASBJ Statement No. 29, 31 March 2020) and related standards. We now recognize 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.」
For domestic companies and domestic consolidated subsidiaries, the Accounting Standard for Revenue Recognition has been applied since the beginning of FY2022-Q1. Revenue from performance obligations satisfied over time, such as equipment manufacturing, is recognized based on the degree of progress, while revenue from component and materials sales is recognized at a point in time. As a result of the application, quarterly sales increased by ¥605 million, quarterly operating income, ordinary income and profit before income taxes each increased by ¥171 million, and the opening balance of retained earnings decreased by ¥581 million. - FY2021First statedAnnual report
「The planned date for applying the Accounting Standard for Revenue Recognition and related standards is the beginning of the fiscal year ending June 2022. The impact of applying the Accounting Standard for Revenue Recognition and related standards on the consolidated financial statements is currently being assessed.」
For the company and its domestic consolidated subsidiaries, the company first stated that it planned to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending June 2022. The impact on the financial statements was under assessment.