Application of the Revenue Recognition Accounting Standard and Changes in the Presentation of Revenue from Sales
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022.
43 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「Because the Revenue Recognition Standard and related standards were applied, the accounts receivable presented under current assets on the balance sheet for the previous fiscal year are presented as accounts receivable and contract assets from the current fiscal year. In addition, certain liabilities included in advances received and unearned revenue under current liabilities are presented as contract liabilities from the current fiscal year.」
Continues to apply the Revenue Recognition Standard and discloses on an annual basis the changes in presentation of revenue, contract assets and contract liabilities, together with the impact on profit and retained earnings. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter period decreased by ¥1,212.809 million, cost of sales decreased by ¥1,228.914 million, and operating profit, ordinary profit and profit before income taxes for the quarter increased by ¥16.104 million. In addition, the opening balance of retained earnings decreased by ¥97.291 million.」
Continues to apply the Revenue Recognition Standard and specifically discloses its impact on revenue, cost of sales, profit and retained earnings for the cumulative third quarter period. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter period decreased by ¥806.142 million, cost of sales decreased by ¥822.168 million, and operating profit, ordinary profit and profit before income taxes for the quarter increased by ¥16.026 million.」
Continues to apply the Revenue Recognition Standard and specifically discloses its cumulative-period impact on revenue, cost of sales and profit. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and related standards from the beginning of the first quarter of the current fiscal year. Revenue is 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, when the Company's promise to a customer constitutes a performance obligation to arrange for goods or services to be provided by another party, the Company recognises revenue on a net basis as an agent. In addition, for certain transactions, because the revenue recognition period differs from that under the previous standards, revenue is recognised in accordance with the timing at which each performance obligation is satisfied.」
Following the application of the Revenue Recognition Standard, the Company changed its accounting treatment to present agent transactions on a net basis, recognise revenue according to the timing of satisfaction of performance obligations, and recognise construction revenue over time, and presents "net sales" as "revenue."