Preparing for new accounting standards on revenue recognition and fair value measurement
First written in FY2020. 2 of 6 entries say "Restated". Latest entry: FY2026.
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- FY2026Disclosed the planned adoption of the new lease standards and other standards for the fiscal year ending March 2028.Annual report
「Scheduled application date for the Lease Accounting Standard and related standards: We will apply them from the beginning of the fiscal year ending March 2028.」
The company indicated that the new lease accounting standards and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2028, and stated that the impact on the consolidated financial statements is currently being assessed. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now 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 company continues to apply the revenue recognition standard from the beginning of the first quarter of the consolidated fiscal year and has disclosed the revenue recognition method using assets for returned goods and refund liabilities. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now 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 company continues to apply the revenue recognition standard from the beginning of the first quarter of the consolidated fiscal year and has disclosed the revenue recognition method using assets for returned goods and refund liabilities, together with its impact. - FY2022-Q1AchievedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognizes revenue 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. As a result, sales for the cumulative first quarter increased by ¥352.095 million, while gross profit, operating profit, ordinary profit and profit before income taxes increased by ¥330.562 million each.」
The company adopted the revenue recognition standard from the beginning of the first quarter of the fiscal year ending March 2022 and transitioned to a new revenue recognition method that records assets for returned goods and refund liabilities. The fair value measurement standard was also adopted from the beginning of the same fiscal year, with no impact on the financial statements. - FY2021AdvancedAnnual report
「The “Accounting Standard for Disclosure of Accounting Estimates” (ASBJ Statement No. 31, 31 March 2020) has been applied to the consolidated financial statements for the year-end of the current consolidated fiscal year, and notes on significant accounting estimates are included in the consolidated financial statements.」
The company adopted the standard on disclosures of accounting estimates at the end of the current fiscal year and began providing notes on significant estimates. The revenue recognition and fair value measurement standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022. - FY2020First 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 company has indicated plans to adopt new accounting standards concerning revenue recognition, fair value measurement, disclosures of accounting estimates and other matters, from the end of the fiscal year ending March 2021 or the beginning of the fiscal year ending March 2022.