Change in revenue recognition for overseas sales of FPD exposure equipment to the installation-completion basis
First written in FY2017-Q1. 2 of 3 entries say "Restated". Latest entry: FY2017.
4 other companies' latest entry also says "Restated".
- FY2017RestatedAnnual report
「For the revenue recognition policy applicable to the Company's overseas sales transactions for FPD exposure equipment in the Precision Equipment Business, revenue had previously been recognized on either a shipment basis or a delivery-to-customer-designated-location basis, taking into account the contractual terms and other factors. From the current consolidated fiscal year, the Company has changed to recognizing revenue upon completion of installation.」
The change to the installation-completion basis for overseas sales of FPD exposure equipment continues to be disclosed as the accounting policy for the full fiscal year. - FY2017-Q3RestatedAnnual report
「For the Company's overseas sales transactions for FPD exposure equipment in the Precision Equipment Business, revenue had previously been recognized on a shipment basis or a delivery-to-customer-designated-location basis. From the first quarter of the consolidated fiscal year, the Company changed to recognizing revenue upon completion of installation.」
The third-quarter report continues to disclose that the installation-completion basis has been applied to overseas sales of FPD exposure equipment since the first quarter. - FY2017-Q1First statedAnnual report
「For the revenue recognition policy applicable to the Company's overseas sales transactions for FPD exposure equipment in the Precision Equipment Business, revenue had previously been recognized on either a shipment basis or a delivery-to-customer-designated-location basis, taking into account the contractual terms and other factors. From the first quarter of the current consolidated fiscal year, the Company has changed to recognizing revenue upon completion of installation.」
In light of the increasing duration and complexity of installation work for equipment for high-definition displays, the Company changed to recognizing revenue upon completion of installation. Compared with before retrospective application, the prior-year period's net sales increased by ¥3,648 million and operating profit and other items increased by ¥1,250 million, according to the disclosure.