Preparing to Apply the Accounting Standard for Revenue Recognition
First written in FY2019. 1 of 6 entries say "Restated". Latest entry: FY2022.
- FY2022Updated the full-year impact of applying the revenue recognition accounting standardAnnual report
「As a result, net sales for the current consolidated fiscal year decreased by ¥1,198,932 thousand, cost of sales decreased by ¥1,199,576 thousand, and operating profit, ordinary profit and profit before income taxes for the year each increased by ¥644 thousand.」
As a result of applying the revenue recognition accounting standard, full-year net sales decreased by ¥1,198.932 million, cost of sales decreased by ¥1,199.576 million and operating profit and related measures increased by ¥644 thousand. - FY2022-Q3Updated the cumulative third-quarter impact of applying the revenue recognition accounting standardAnnual report
「As a result, net sales for the cumulative third quarter decreased by ¥842,447 thousand, cost of sales decreased by ¥852,273 thousand, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥9,826 thousand. The beginning balance of retained earnings also decreased by ¥8,659 thousand.」
Following application of the revenue recognition accounting standard, cumulative third-quarter net sales decreased by ¥842.447 million, cost of sales decreased by ¥852.273 million and operating profit and related measures increased by ¥9.826 million. - FY2022-Q2Updated the cumulative impact of applying the revenue recognition accounting standardAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is 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. As a result, for part of the sales of industrial products for which revenue had previously been recognized upon shipment, revenue is now recognized upon customer acceptance. In addition, for transactions involving the provision of raw materials and other items to suppliers for consideration, the Company had previously recognized the consideration for those raw materials and other items as revenue, but changed to a method under which that consideration is not recognized as revenue. As a result, net sales for the cumulative second quarter decreased by ¥541,203 thousand, cost of sales decreased by ¥543,982 thousand, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥2,779 thousand. The beginning balance of retained earnings also decreased by ¥8,659 thousand.」
Following application of the revenue recognition accounting standard, cumulative net sales decreased by ¥541.203 million, cost of sales decreased by ¥543.982 million and operating profit and related measures increased by ¥27.79 million, reflecting the change for some industrial products to recognition upon customer acceptance and the change for transactions involving supplied materials for consideration to a method that does not recognize the consideration as revenue. - FY2022-Q1AchievedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is 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. As a result, net sales for the cumulative first quarter decreased by ¥236,739 thousand, cost of sales decreased by ¥246,319 thousand, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥9,579 thousand.」
Applied the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022. For some industrial products, revenue recognition was changed from shipment to customer acceptance, and the revenue recognition method for transactions involving supplied materials for consideration was also changed. - FY2020RestatedAnnual report
「Scheduled application date: The standard will be applied from the beginning of the fiscal year ending March 2022. The impact of applying the Accounting Standard for Revenue Recognition and related standards on the consolidated financial statements is currently under evaluation.」
The revenue recognition accounting standard is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the amount of its impact continues to be assessed. - FY2019First statedAnnual report
「Scheduled application date: The standard will be applied from the beginning of the fiscal year ending March 2022.」
Scheduled to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022, with the impact still under evaluation.