Application of the Accounting Standard for Revenue Recognition and Net Recognition of Transactions Involving Materials Received for Consideration
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
10 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「Compared with the previous accounting treatment, sales and cost of sales for the first nine months of the current fiscal year each decreased by ¥16 million. Operating profit, ordinary profit, and profit before income taxes were unaffected.」
The company has continued to apply the Revenue Recognition Standard and net recognition of consideration received in transactions involving supplied materials, disclosing that sales and cost of sales each decreased by ¥16 million in the first nine months, with no impact on profit. - FY2022-Q2RestatedAnnual report
「Compared with the previous accounting treatment, sales and cost of sales for the first six months of the current fiscal year each decreased by ¥11 million. Operating profit, ordinary profit, and profit before income taxes were unaffected.」
The company has continued to apply the Revenue Recognition Standard and net recognition of consideration received in transactions involving supplied materials, disclosing that sales and cost of sales each decreased by ¥11 million in the first six months, with no impact on profit. - FY2022-Q1First statedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and other relevant standards from the beginning of the first quarter of the current fiscal year, and now recognizes revenue 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. As a result, for transactions involving consideration received for supplied materials, the company previously recorded sales and cost of sales on a gross basis when the materials were resold to the supplying party, but has changed to recognizing only the processing fee equivalent as revenue on a net basis.」
The company adopted the Revenue Recognition Standard and other relevant standards from the first quarter beginning 1 April 2021, changing the recognition of revenue from transactions involving consideration received for supplied materials from gross presentation to net presentation of the processing fee equivalent. As a result of the adoption, sales and cost of sales for the quarter each decreased by ¥5 million, with no impact on operating profit, ordinary profit, or profit before income taxes.