Adoption of the revenue-recognition accounting standard from the fiscal year ending March 2022
First written in FY2021. 3 of 5 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「As a result, net sales for the consolidated fiscal year decreased by ¥621.292 million, cost of sales decreased by ¥638.014 million, and operating profit, ordinary profit and profit before income taxes increased by ¥16.722 million each. The opening balance of retained earnings also increased by ¥42.328 million.」
The Revenue Recognition Accounting Standard was applied from the beginning of the fiscal year, reducing full-year net sales by ¥621.292 million, increasing operating profit and other items by ¥16.722 million, and increasing the opening balance of retained earnings by ¥42.328 million. - FY2022-Q3RestatedAnnual report
「As a result, net sales for the nine-month period ended 31 December decreased by ¥396.421 million, cost of sales decreased by ¥414.756 million, and operating profit, ordinary profit and profit before income taxes increased by ¥18.335 million each. The opening balance of retained earnings also increased by ¥42.328 million.」
The company disclosed that application of the Revenue Recognition Accounting Standard from the beginning of the fiscal year ending March 2022 reduced net sales by ¥396.421 million, increased operating profit and other items by ¥18.335 million, and increased the opening balance of retained earnings by ¥42.328 million for the nine-month period. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the six-month period ended 30 September decreased by ¥259.581 million, cost of sales decreased by ¥277.223 million, and operating profit, ordinary profit and profit before income taxes increased by ¥17.642 million each.」
The company disclosed that application of the Revenue Recognition Accounting Standard from the beginning of the fiscal year ending March 2022 reduced net sales by ¥259.581 million and increased operating profit and other items by ¥17.642 million for the first half. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018, hereinafter the “Revenue Recognition Accounting Standard”) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018). The Revenue Recognition Accounting Standard and related guidance have been applied from the beginning of the first quarter of the current fiscal year, and 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 is transferred to the customer.」
The Revenue Recognition Accounting Standard was applied from the beginning of the fiscal year ending March 2022, changing the timing of revenue recognition for mold sales and the treatment of consideration paid to customers. As a result, first-quarter net sales decreased by ¥144.638 million, while operating profit and other items increased by ¥12.166 million. - FY2021First statedAnnual report
「This will be applied from the beginning of the fiscal year ending March 2022. We estimate that, as a result, net sales in the consolidated income statement for the fiscal year ending March 2022 will decrease by approximately ¥800 million.」
The company plans to apply the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 and estimates that net sales will decrease by approximately ¥800 million because of changes in the treatment of consideration paid to customers.