Preparing to Adopt New Accounting Standards on Revenue Recognition and Fair Value Measurement
First written in FY2021. 2 of 7 entries say "Restated". Latest entry: FY2023.
- FY2023RestatedAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement from the beginning of the current consolidated fiscal year and applied the new accounting policies prescribed by the Fair Value Measurement Guidance prospectively. This had no material impact on the consolidated financial statements.」
The company confirmed the application of the Fair Value Measurement Guidance from the beginning of the period and the absence of a material impact on the financial statements. - FY2023-Q3RestatedAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the “Fair Value Measurement Guidance”) from the beginning of the first quarter consolidated accounting period. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the company applied the new accounting policies prescribed by the guidance prospectively. This had no material impact on the quarterly consolidated financial statements.」
The company reaffirmed the application of the Fair Value Measurement Guidance from the beginning of the period and the absence of a material impact on the quarterly consolidated financial statements. - FY2023-Q1Application of fair value measurement guidelinesAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the “Fair Value Measurement Guidance”) from the beginning of the current first quarter consolidated accounting period. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the company applied the new accounting policies prescribed by the guidance prospectively. This had no material impact on the quarterly consolidated financial statements.」
The Fair Value Measurement Guidance was applied from the beginning of the current first quarter consolidated accounting period, and the company states that it had no material impact on the financial statements. - FY2022-Q3Cumulative quantification of the impact of applicationAnnual report
「As a result, revenue for the current third quarter cumulative consolidated period decreased by ¥4,884 million, cost of sales decreased by ¥5,042 million, financial income and other items increased by ¥535 million, and selling, general and administrative expenses decreased by ¥483 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥1,176 million. In addition, the beginning balance of retained earnings increased by ¥1,953 million.」
The company quantified the impact of the revenue recognition accounting standard applied from the first quarter on revenue, expenses, retained earnings and other items for the third quarter cumulative period. - FY2022-Q2Specified the impact of applicationAnnual report
「As a result, revenue for the current second quarter cumulative consolidated period decreased by ¥3,235 million, cost of sales decreased by ¥3,212 million, financial income and other items increased by ¥423 million, and selling, general and administrative expenses decreased by ¥328 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥729 million. In addition, the beginning balance of retained earnings increased by ¥1,953 million.」
The company disclosed the specific impacts of the revenue recognition accounting standard applied from FY2022-Q1 on revenue, expenses, financial income and retained earnings. - FY2022-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the current first-quarter consolidated accounting period, and now recognize revenue at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The planned revenue recognition standard and related standards were applied from the beginning of the current first quarter. The fair value measurement standard was also applied from the beginning of the quarter. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. The impact of applying the Accounting Standard for Revenue Recognition and related standards on the consolidated financial statements is currently being assessed.」
The company indicated plans to apply the revenue recognition standard, the fair value measurement standard and related standards from the beginning of the fiscal year ending March 2022, and is assessing the impact.