Planned Application of the Revenue Recognition Standard from the Fiscal Year Ending March 2022
First written in FY2019. 1 of 4 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3Quantification of the impact of applicationAnnual report
「For sales of products for which revenue had been recognized at the time of shipment, the Company changed to a method of recognizing revenue when the products arrive. As a result, revenue and cost of sales for the nine-month period of the current third quarter decreased by ¥1,864 million and ¥1,792 million, respectively, while operating profit, ordinary profit and profit before income taxes decreased by ¥72 million each. The opening balance of retained earnings decreased by ¥17 million.」
Following application of the Revenue Recognition Standard, the Company changed revenue recognition from shipment to arrival and made other changes, specifically disclosing the impact of application, including decreases of ¥1,864 million in revenue and ¥72 million in operating profit and other items for the nine-month period of the third quarter. - FY2022-Q1AchievedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards 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 Revenue Recognition Standard, which until the previous fiscal year had been scheduled for application from the beginning of the fiscal year ending March 2022, was applied from the beginning of the first quarter of the current consolidated fiscal year, which began on 1 April 2021. As a result, revenue decreased by ¥871 million and operating profit and other items decreased by ¥31 million during the quarter. - FY2020RestatedAnnual report
「(2) Scheduled adoption date The standards will be applied from the beginning of the fiscal year ending March 2022. (3) Impact of applying the accounting standards and related guidance The impact of applying the Accounting Standard for Revenue Recognition and other standards on the consolidated financial statements is currently being assessed.」
The Company plans to apply the accounting standard for revenue recognition from the beginning of the fiscal year ending March 2022 and continues to assess the impact on the financial statements. - FY2019First statedAnnual report
「The impact of applying the Accounting Standard for Revenue Recognition and other standards on the consolidated financial statements is currently being assessed. The standards will be applied from the beginning of the fiscal year ending March 2022.」
The Company plans to apply the new revenue recognition standard from the beginning of the fiscal year ending March 2022 and discloses for the first time that the amount of the impact is under assessment.