Adoption of the revenue recognition standard and changes in revenue recognition methods
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
1 other company's latest entry also says "Achieved".
- FY2022AchievedAnnual 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 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.」
For the revenue recognition accounting standard whose application and effects had been disclosed at the quarterly stage, the company has definitively disclosed its application for the full fiscal year and its effects, including increases of ¥250.075 million in revenue and ¥75.407 million in operating profit. - FY2022-Q3RestatedAnnual report
「As a result, for the nine months ended the third quarter, revenue increased by ¥253.220 million, cost of sales increased by ¥193.890 million and operating profit increased by ¥59.330 million. Ordinary profit and quarterly profit before income taxes each increased by ¥2.676 million.」
The company continued to disclose the effects of the revenue recognition accounting standard and other standards applied from the first quarter, reporting for the nine months ended the third quarter an increase of ¥253.220 million in revenue and ¥59.330 million in operating profit, among other effects. - FY2022-Q2RestatedAnnual report
「As a result, for the six months ended the second quarter, revenue increased by ¥168.402 million, cost of sales increased by ¥130.402 million and operating profit increased by ¥37.999 million. Ordinary profit and quarterly profit before income taxes each increased by ¥2.281 million.」
The company continued to disclose the effects of the revenue recognition accounting standard applied from the first quarter, reporting for the six months ended the second quarter an increase of ¥168.402 million in revenue and ¥37.999 million in operating profit, among other effects. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognised 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. Accordingly, the revenue recognition basis for automotive sales transactions at domestic consolidated subsidiaries was changed from the registration-date basis to the vehicle-delivery-date basis.」
The company applied the revenue recognition accounting standard and other standards from the beginning of the first quarter, changing the basis for automotive sales transactions from the registration date to the vehicle delivery date. It also changed the treatment of proceeds from the sale of scrap to include them in revenue and recognised raw materials in transactions involving customer-supplied materials, resulting in an increase of ¥83.006 million in revenue and ¥17.953 million in operating profit, among other effects.