Scheduled 2022 adoption of the revenue recognition accounting standard
First written in FY2018. 5 of 7 entries say "Restated". Latest entry: FY2024.
62 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Our group manufactures and sells products in Japan, primarily in the steel products, dental, and filing cabinets and lockers businesses. Revenue from the sale of products and other goods is recognized when the promised goods are transferred to the customer, at which point the customer obtains control of the goods and the performance obligation is satisfied. Accordingly, revenue is recognized when installation of the products or other goods is complete and customer acceptance has been obtained.」
The revenue recognition policy disclosed following adoption of the accounting standards for revenue recognition continues to be disclosed. - FY2022RestatedAnnual report
「As a result, net sales and cost of sales for the current consolidated fiscal year decreased by ¥90.910 million each, but there was no impact on operating income, ordinary income, or profit before income taxes.」
The company states that, under the applicable accounting standards for revenue recognition, net sales and cost of sales each decreased by ¥90.910 million, with no impact on profit. - FY2022-Q3RestatedAnnual report
「As a result, net sales and cost of sales for the cumulative third quarter of the current consolidated fiscal year decreased by ¥83.864 million each. There was no impact on the balance of retained earnings at the beginning of the current fiscal year.」
Under the applicable accounting standards for revenue recognition, net sales and cost of sales decreased by ¥83.864 million each. There were no further changes to the accounting treatment itself. - FY2022-Q2RestatedAnnual report
「As a result, net sales and cost of sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥66.571 million each. There was no impact on the balance of retained earnings at the beginning of the current fiscal year.」
Under the applicable accounting standards for revenue recognition, net sales and cost of sales for the cumulative second quarter decreased by ¥66.571 million each. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 accounting standards for revenue recognition and related guidance, which had been scheduled for application from the beginning of the fiscal year ending December 2022, were applied from the beginning of the first quarter of the current consolidated fiscal year. Transactions conducted as an agent were changed to net presentation, reducing net sales and cost of sales by ¥42.952 million each. - FY2020RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending December 2022.」
The company continues to state that it plans to apply the accounting standards for revenue recognition and related guidance from the beginning of the fiscal year ending December 2022 and is evaluating the impact. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018) and the Guidance on Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the fiscal year ending December 2022.」
The company states that it plans to apply the new revenue recognition standards from the beginning of the fiscal year ending December 2022 and is evaluating the impact.