Adoption of the Revenue Recognition Accounting Standard and Changes to Revenue Recognition Methods
First written in FY2022-Q1. 5 of 6 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
92 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「For products involving installation or other work, revenue is recognized when the work is completed. For export sales, revenue is recognized primarily when the risks and rewards transfer to the customer based on trade terms specified by Incoterms and other arrangements.」
The revenue recognition method adopted following application of the Revenue Recognition Standard has continued to be used. - FY2025RestatedAnnual report
「For products involving installation or other work, revenue is recognized when the work is completed. For export sales, revenue is recognized primarily when the risks and rewards transfer to the customer based on trade terms specified by Incoterms and other arrangements.」
The revenue recognition method adopted following application of the Revenue Recognition Standard has continued to be used. - FY2022RestatedAnnual report
「The company applies the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the current consolidated 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 is transferred to the customer.」
The Revenue Recognition Standard and other applicable standards have been applied throughout the fiscal year, with revenue recognized when performance obligations are satisfied, including upon completion of installation and when the risks and rewards transfer under the applicable trade terms. - FY2022-Q3RestatedAnnual report
「The application of the revenue recognition accounting standard and related guidance follows the transitional treatment specified in the proviso to Paragraph 84 of the revenue recognition accounting standard. The cumulative effect of retrospectively applying the new accounting policy to periods before the beginning of the first quarter of the current consolidated fiscal year was added to or deducted from retained earnings at the beginning of that quarter, and the new accounting policy was applied from that opening balance.」
The Revenue Recognition Standard and other applicable standards applied from the beginning of the first quarter have continued to be applied. There was no impact on profit or loss or retained earnings at the beginning of the period for the nine months ended the third quarter. - FY2022-Q2RestatedAnnual report
「The application of the Revenue Recognition Standard and other applicable standards had no impact on profit or loss or retained earnings at the beginning of the period for the six months ended the second quarter.」
The Revenue Recognition Standard and other applicable standards applied from the beginning of the first quarter have continued to be applied. There was no impact on profit or loss or retained earnings at the beginning of the period. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards have been applied from the beginning of the first quarter of the current consolidated 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 is transferred to the customer. Accordingly, for sales of image-processing visual inspection equipment involving installation work, the Company has changed from recognizing revenue at shipment or loading to recognizing revenue when installation is completed. For export sales of other products, the Company has changed from generally recognizing revenue at loading to recognizing revenue when the risks and rewards transfer to the customer, primarily based on trade terms specified by Incoterms and other arrangements.」
The Revenue Recognition Standard and other applicable standards were applied from the beginning of the first quarter, and the method of recognizing revenue was changed so that equipment involving installation work is recognized upon completion of installation, while export sales are recognized when the risks and rewards transfer to the customer under the applicable trade terms. There was no impact on profit or loss or retained earnings at the beginning of the period.