Adoption of Revenue Recognition and Lease Accounting Standards by Overseas Subsidiaries
First written in FY2020-Q1. 4 of 6 entries say "Restated". Latest entry: FY2023.
2 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The group recognizes revenue at the amount expected to be received in exchange for the promised goods or services when control of those goods or services, promised under a contract with a customer, is transferred to the customer.」
The policy of recognizing revenue when control is transferred to the customer under the Revenue Recognition Accounting Standard remains in effect. - FY2022-Q3RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current 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 transfers to the customer.」
The company has reiterated that it has applied the Revenue Recognition Accounting Standard from the first quarter, with no material changes from the previous recognition method and an immaterial impact on profit and loss. - FY2022-Q1ReframedAnnual report
「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 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. The Accounting Standard for Fair Value Measurement and related standards have also been applied from the beginning of the first quarter of the current consolidated fiscal year, and the new accounting policies prescribed by the fair value measurement standards and related standards will be applied prospectively.」
In addition to the disclosures on the application of accounting standards at overseas subsidiaries, new accounting standards concerning revenue recognition and fair value measurement were applied from the first quarter of the current fiscal year. The impact on the financial statements was deemed immaterial or nonexistent in both cases. - FY2020-Q3RestatedAnnual report
「At overseas subsidiaries applying U.S. GAAP, ASC Topic 606, "Revenue from Contracts with Customers," has been applied from the first quarter of the current consolidated fiscal year. At overseas subsidiaries applying International Financial Reporting Standards (IFRS), IFRS 16, "Leases," has been applied from the first quarter of the current consolidated fiscal year.」
The company continues to disclose the application of ASC Topic 606 and IFRS 16 at overseas subsidiaries, and has deemed the impact on the quarterly consolidated financial statements immaterial in both cases. - FY2020-Q2RestatedAnnual report
「At overseas subsidiaries applying U.S. GAAP, ASC Topic 606, "Revenue from Contracts with Customers," has been applied from the first quarter of the current consolidated fiscal year. At overseas subsidiaries applying International Financial Reporting Standards (IFRS), IFRS 16, "Leases," has been applied from the first quarter of the current consolidated fiscal year.」
The company continues to disclose the application of ASC Topic 606 and IFRS 16 at overseas subsidiaries, and has deemed the impact on the quarterly consolidated financial statements immaterial in both cases. - FY2020-Q1First statedAnnual report
「At overseas subsidiaries applying U.S. GAAP, "Revenue from Contracts with Customers" has been applied from the first quarter of the current consolidated fiscal year. At overseas subsidiaries applying International Financial Reporting Standards (IFRS), IFRS 16, "Leases" (13 January 2016; hereinafter, "IFRS 16"), has been applied from the first quarter of the current consolidated fiscal year.」
Overseas subsidiaries began applying revenue recognition under ASC Topic 606 and lease accounting under IFRS 16 from the first quarter of the current consolidated fiscal year. The impact on the quarterly consolidated financial statements was deemed immaterial in both cases.