Change in construction revenue recognition following adoption of the revenue recognition standard
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022.
105 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, compared with before application of the new accounting policy, revenue for the current consolidated fiscal year increased by ¥4,495 million, operating income and ordinary income each increased by ¥949 million, and net income attributable to owners of the parent increased by ¥652 million.」
The company continues to apply the revenue recognition standards and disclosed their impact on full-year revenue and income. - FY2022-Q3RestatedAnnual report
「As a result, compared with before application of the new accounting policy, revenue for the current third-quarter consolidated cumulative period increased by ¥5,093 million, operating income increased by ¥983 million, ordinary loss decreased by ¥983 million, and net loss for the quarter attributable to owners of the parent decreased by ¥698 million.」
The company continues to apply the revenue recognition standards and disclosed their impact on the current third-quarter cumulative period, including a ¥5,093 million increase in revenue and a ¥983 million increase in operating income. - FY2022-Q2RestatedAnnual report
「As a result, compared with before the new accounting policy was applied, revenue for the six months ended September 2021 increased by ¥4,316 million, operating loss and ordinary loss decreased by ¥728 million, and net loss for the quarter attributable to owners of the parent decreased by ¥504 million. The opening balance of retained earnings also decreased by ¥2,008 million.」
The company continues to apply the revenue recognition standards and disclosed their impact on the current second-quarter cumulative period, including a ¥4,316 million increase in revenue and a ¥728 million decrease in operating loss and ordinary loss. - FY2022-Q1First statedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards from the beginning of the current first-quarter consolidated accounting period, and recognizes revenue 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. Following this adoption, for contracts to which the percentage-of-completion method had previously been applied, where control of the goods or services is transferred to the customer over a period of time, the company changed to a method of recognizing revenue over time as it satisfies its performance obligation to transfer the goods or services to the customer.」
The company adopted the revenue recognition standards and related standards from 1 April 2021 and changed the revenue recognition method for contracts whose performance obligations are satisfied over a period of time, from the completed-contract method to recognition based on progress. Compared with before adoption, revenue for the current first-quarter cumulative period increased by ¥2,834 million, operating loss and ordinary loss each decreased by ¥470 million, and net loss for the quarter attributable to owners of the parent decreased by ¥340 million.