Adoption of revenue recognition accounting standards
First written in FY2022-Q1. 1 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
6 other companies' latest entry also says "Other".
- FY2022Full-year impact finalisedAnnual report
「As a result, net sales for the current consolidated fiscal year decreased by ¥745.140 million, while selling, general and administrative expenses also decreased by ¥745.140 million, resulting in no impact on operating income, ordinary income or net income before income taxes.」
Application of the revenue recognition accounting standard reduced full-year net sales by ¥745.140 million, but selling, general and administrative expenses also decreased by the same amount, resulting in no impact on operating income or any subsequent profit or loss items. - FY2022-Q3Cumulative impact updatedAnnual report
「As a result, net sales for the nine months ended the third quarter of the current consolidated fiscal year decreased by ¥569.639 million, while selling, general and administrative expenses also decreased by ¥569.639 million, resulting in no impact on operating income, ordinary income or quarterly net income before income taxes. There was also no impact on the balance of retained earnings at the beginning of the fiscal year.」
The decrease in net sales for the nine months resulting from the application of the revenue recognition accounting standard amounted to ¥569.639 million, but selling, general and administrative expenses also decreased by the same amount, with no impact on operating income or any subsequent profit or loss items. - FY2022-Q2AdvancedAnnual report
「As a result, net sales for the six months ended the second quarter of the current consolidated fiscal year decreased by ¥369.138 million, while selling, general and administrative expenses also decreased by ¥369.138 million, resulting in no impact on operating income, ordinary income or quarterly net income before income taxes. There was also no impact on the balance of retained earnings at the beginning of the fiscal year.」
The cumulative decrease in net sales resulting from the application of the revenue recognition accounting standard amounted to ¥369.138 million, but selling, general and administrative expenses also decreased by the same amount, with no impact on operating income or any subsequent profit or loss items. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer.」
The Company applied the revenue recognition accounting standard and related standards from the beginning of the first quarter of the current consolidated fiscal year, changing to a method that excludes variable consideration, such as sales rebates, from the transaction price. Although net sales decreased by ¥178 million, selling, general and administrative expenses also decreased by ¥178 million, resulting in no impact on operating income or any subsequent profit or loss items.