Preparation for the Adoption of New Accounting Standards on Revenue Recognition, Fair Value Measurement and Other Matters
First written in FY2020. 2 of 6 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2025.
5 other companies' latest entry also says "Other".
- FY2025Scheduled 2028 Adoption of the Leases Accounting StandardAnnual report
「“Accounting Standard for Leases” (ASBJ Statement No. 34, 13 September 2024) 2. Scheduled effective date The standard is scheduled to be applied from the beginning of the fiscal year ending March 2028. 3. Impact of applying the accounting standard and other requirements The impact of applying the accounting standard and other requirements is currently being evaluated.」
As a new standard not yet applied following the adoption of the revenue recognition and fair value measurement standards and others, the company newly disclosed plans to apply the lease accounting standard from the beginning of the fiscal year ending March 2028. The impact is under evaluation. - FY2023-Q1AchievedAnnual report
「The “Implementation Guidance on Accounting Standard for Fair Value Measurement” (Implementation Guidance No. 31, 17 June 2021; the “Fair Value Measurement Implementation Guidance”) was applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in Paragraph 27-2 of the Fair Value Measurement Implementation Guidance, the new accounting policies prescribed by the Fair Value Measurement Implementation Guidance are being applied prospectively.」
The implementation guidance for the Fair Value Measurement Accounting Standard, which had been scheduled for application from the beginning of the fiscal year ending March 2023, was actually applied from the beginning of the first quarter of fiscal 2022. A method of measuring the fair value of investment trusts by classifying them according to the type of investment trust assets and other factors was also introduced. - FY2022Finalized annual impact of accounting standard adoption and preparation for the next adoptionAnnual report
「As a result, in the consolidated statement of income for the current consolidated fiscal year, ordinary revenue and income from services and other transactions each increased by ¥26 million, while ordinary profit and profit before income taxes each increased by ¥26 million. The opening balance of retained earnings in the consolidated statement of changes in shareholders’ equity and other components decreased by ¥136 million because the cumulative impact was reflected in net assets at the beginning of the current consolidated fiscal year. “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, 17 June 2021) (2) Scheduled effective date The guidance is scheduled to be applied from the beginning of the fiscal year ending March 2023.」
The company finalized and disclosed the impact of applying the revenue recognition standard and other standards from the beginning of the fiscal year, and indicated that the implementation guidance for fair value measurement was scheduled to be applied from the beginning of the fiscal year ending March 2023. - FY2022-Q1AchievedAnnual report
「The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were applied 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 “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, 4 July 2019; hereinafter, the “Fair Value Measurement Accounting Standard”) and other standards were applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 19 of the Fair Value Measurement Accounting Standard and paragraph 44-2 of the “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, 4 July 2019), the new accounting policies prescribed by the Fair Value Measurement Accounting Standard and other standards are being applied prospectively.」
The revenue recognition standard, fair value measurement standard and other standards, which had been under preparation and evaluation for application through the previous fiscal year, were actually applied from the beginning of the first quarter of fiscal 2021. The change in revenue recognition increased income from services and other transactions and ordinary profit for the current first quarter by ¥11 million, while decreasing the opening balance of retained earnings by ¥136 million. - FY2021RestatedAnnual report
「The “Accounting Standard for Revenue Recognition,” the “Accounting Standard for Fair Value Measurement” and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The new revenue recognition standard, fair value measurement standard and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022, with the impact continuing to be evaluated. - FY2020First statedAnnual report
「• “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020) (2) Scheduled effective date The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company indicated that new accounting standards relating to revenue recognition, fair value measurement and financial instruments, among others, were scheduled to be applied from the fiscal year ending March 2022, with the impact still under evaluation. It also planned to apply the standards relating to disclosures of accounting policies and accounting estimates from the end of the fiscal year ending March 2021.