Application of the Accounting Standard for Revenue Recognition to the Fiscal Year Ended January 2023
First written in FY2022. 1 of 3 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2023-Q3.
- FY2023-Q3RestatedAnnual report
「As a result, for the nine months ended the third quarter of the current consolidated fiscal year, net sales decreased by ¥2,887 million and cost of sales decreased by ¥4,038 million, while operating profit, ordinary profit and profit before income taxes increased by ¥1,151 million each.」
The company disclosed the impact of applying the revenue recognition accounting standard from the beginning of the first quarter on net sales, cost of sales and profit for the nine months ended the third quarter. - FY2023-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Accounting Standard") and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The company applied the revenue recognition accounting standard, which had been scheduled for application from the fiscal year ending January 2023, from the beginning of the first quarter. As a result, beginning retained earnings increased by ¥811 million, while operating profit and other figures for the first quarter increased by ¥704 million. - FY2022First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards will be applied from the beginning of the fiscal year ending January 2023. As a result, beginning retained earnings are expected to increase by ¥811 million.」
The company plans to apply the revenue recognition accounting standard from the beginning of the fiscal year ending January 2023 and estimates that beginning retained earnings will increase by ¥811 million.