Application of Revenue Recognition and Lease Accounting Standards by Overseas Subsidiaries
First written in FY2020-Q1. 2 of 6 entries say "Restated". Latest entry: FY2026.
0 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「The “Accounting Standard for Leases” (Accounting Standards Board of Japan Statement No. 34, 13 September 2024) is scheduled to be applied from the beginning of the fiscal year ending March 2028.」
The Company disclosed plans to apply the new lease accounting standard, which requires assets and liabilities to be recognized for all leases by lessees, from the beginning of the fiscal year ending March 2028. - FY2023AdvancedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASU 2016-02, “Leases,” has been applied from the current consolidated fiscal year.」
Overseas consolidated subsidiaries began applying U.S. GAAP lease accounting in the current fiscal year, increasing lease assets at the beginning of the period by ¥9.378 billion and lease liabilities by ¥10.220 billion. - FY2022-Q3RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year. 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 revenue recognition accounting standard applied from the first quarter continues to be applied. For the cumulative period, revenue decreased by ¥10.678 billion, while operating profit and other items increased by ¥7.243 billion, according to the disclosure. - FY2022-Q1ReframedAnnual report
「The domestic sales subsidiary previously recognized revenue from new vehicle sales when the vehicles were registered, but has changed to recognizing revenue upon delivery. In addition, the Company previously did not recognize revenue for connected services provided upon the sale of a new vehicle because no consideration was exchanged. It has changed to treating these services as performance obligations separate from the delivery of the vehicle, allocating the transaction price based on standalone selling prices, and recognizing revenue over a specified period.」
The scope has expanded beyond the application of revenue recognition and lease standards at overseas subsidiaries, with the Group beginning to apply the revenue recognition accounting standard domestically, including recognition upon delivery by domestic sales subsidiaries, allocation of connected service revenue over the service period, and deduction of sales promotion expenses from revenue. As a result of the application, operating profit and other items for the first quarter increased by ¥6.764 billion, while retained earnings at the beginning of the period decreased by ¥8.883 billion. - FY2020-Q3RestatedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASU 2014-09, “Revenue from Contracts with Customers,” has been applied from the beginning of the first quarter of the consolidated fiscal year. This change in accounting policy was applied retrospectively, and the figures for the cumulative third quarter and third quarter of the previous consolidated fiscal year, as well as the previous consolidated fiscal year, reflect retrospective application.」
The retrospective application of the revenue recognition standard and the application of IFRS 16 at overseas subsidiaries continue to be disclosed. No new accounting standards have been applied. - FY2020-Q1First statedAnnual report
「At overseas consolidated subsidiaries applying U.S. GAAP, ASU 2014-09, “Revenue from Contracts with Customers,” has been applied from the beginning of the first quarter of the current consolidated fiscal year. At overseas consolidated subsidiaries applying International Financial Reporting Standards (IFRS), IFRS 16, “Leases,” has been applied from the beginning of the first quarter of the current consolidated fiscal year.」
Overseas consolidated subsidiaries began applying ASU 2014-09, the revenue recognition standard, and IFRS 16, the lease standard, from the beginning of the quarter. The revenue recognition standard was applied retrospectively, and applying the lease standard increased lease assets and lease liabilities at the beginning of the period by ¥15.821 billion each.