Application of the Revenue Recognition Standard from the Fiscal Year Ending March 2022
First written in FY2019. 1 of 7 entries say "Restated". Latest entry: FY2022.
- FY2022Quantifying the annual impactAnnual report
「As a result, for the consolidated fiscal year, net sales decreased by ¥13,893 million, cost of sales decreased by ¥13,807 million, and selling, general and administrative expenses decreased by ¥86 million. There was no impact on operating profit, ordinary profit or profit before income taxes.」
The company disclosed the full-year impact of applying the revenue recognition standard on net sales and other items, and explained that there was no impact on operating profit, ordinary profit or other profit measures. - FY2022-Q3Updating the impact of applying the revenue recognition standardAnnual report
「As a result, for the nine months ended the third quarter, net sales decreased by ¥10,646 million, cost of sales decreased by ¥10,579 million, and selling, general and administrative expenses decreased by ¥66 million. There was no impact on operating profit, ordinary profit or profit before income taxes.」
Application of the revenue recognition standard reduced net sales by ¥10,646 million, cost of sales by ¥10,579 million, and selling, general and administrative expenses by ¥66 million for the nine months ended the third quarter. The company explained that there was no impact on operating profit, ordinary profit or quarterly profit before income taxes. - FY2022-Q2Quantifying the impact of applying the revenue recognition standardAnnual report
「As a result, for the six months ended the second quarter, net sales decreased by ¥6,395 million, cost of sales decreased by ¥6,345 million, and selling, general and administrative expenses decreased by ¥49 million. There was no impact on operating loss, ordinary profit or profit before income taxes.」
Following application of the revenue recognition standard, the company disclosed the specific impact on net sales, cost of sales and selling, general and administrative expenses for the six months ended the second quarter, and explained that there was no impact on operating loss, ordinary profit or other profit measures. - FY2022-Q1AchievedAnnual report
「The Group 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 point when control of promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The revenue recognition standard, which was scheduled to be applied from the fiscal year ending March 2022, was actually applied from the beginning of the first quarter. Consignment sales transactions and other transactions changed from gross-basis to net-basis presentation, reducing net sales by ¥3,194 million, with no impact on operating profit or other profit measures. - FY2021AdvancedAnnual report
「We will apply the standards from the beginning of the fiscal year ending March 2022. For consignment sales transactions, we plan to change from presenting sales and purchases on a gross basis to presenting them on a net basis. This change will have no impact on gross profit.」
The company maintained its plan to apply the standards from the fiscal year ending March 2022, specifying that consignment sales transactions would change from gross-basis to net-basis presentation and that there would be no impact on gross profit. - FY2020RestatedAnnual report
「The revenue-recognition accounting standard and related standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The company reiterated its plan to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022. - FY2019First statedAnnual report
「The revenue-recognition accounting standard and related standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The company planned to apply the new accounting standards on revenue recognition and other standards from the beginning of the fiscal year ending March 2022, and stated that it was assessing the impact on the consolidated financial statements.