Adoption of the Accounting Standard for Revenue Recognition and Its Impact on Net Sales and Profit
First written in FY2022-Q1. . Latest entry: FY2022.
14 other companies' latest entry also says "Other".
- FY2022Full-year impact of applying the revenue recognition accounting standard finalizedAnnual report
「As a result, compared with the previous accounting treatment, sales for the current consolidated fiscal year decreased by ¥21,611 million and cost of sales by ¥21,485 million. Operating profit decreased by ¥125 million, while ordinary profit and profit before income taxes decreased by ¥108 million each.」
The Company disclosed the full-year impact of applying the revenue recognition accounting standard as decreases of ¥21,611 million in sales, ¥125 million in operating profit and ¥108 million in ordinary profit. - FY2022-Q3Update to the cumulative third-quarter impact of applying the revenue recognition accounting standardAnnual report
「As a result, compared with the previous accounting treatment, sales for the current third quarter cumulative consolidated period decreased by ¥16,037 million and cost of sales by ¥15,920 million. Operating profit decreased by ¥117 million, while ordinary profit and profit before income taxes decreased by ¥103 million each. In addition, the opening balance of retained earnings increased by ¥326 million.」
The Company updated the differences from the previous treatment arising from application of the revenue recognition accounting standard for the third quarter cumulative period, including decreases of ¥16,037 million in sales, ¥117 million in operating profit and ¥103 million in ordinary profit. - FY2022-Q2Update to the cumulative impact of applying the revenue recognition accounting standardAnnual report
「As a result, compared with the previous accounting treatment, sales for the current second quarter cumulative consolidated period decreased by ¥9,510 million and cost of sales by ¥9,411 million. Operating profit decreased by ¥98 million, while ordinary profit and profit before income taxes decreased by ¥90 million each. In addition, the opening balance of retained earnings increased by ¥326 million.」
The Company continued to apply the revenue recognition accounting standard and quantified the differences from the previous treatment for the second quarter cumulative period, including decreases of ¥9,510 million in sales, ¥98 million in operating profit and ¥90 million in ordinary profit. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first-quarter consolidated accounting period. 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 transfers to the customer.」
The Company applied the revenue recognition accounting standard and related standards from the beginning of the current first quarter consolidated accounting period and changed its accounting treatment for recognizing product sales at a point in time, recognizing agent transactions on a net basis and transactions involving supplied goods for consideration. Compared with the previous accounting treatment, sales decreased by ¥4,602 million, cost of sales by ¥4,532 million, operating profit by ¥70 million, and ordinary profit and profit before income taxes by ¥66 million each, while the opening balance of retained earnings increased by ¥326 million.