Application of the Accounting Standard for Revenue Recognition in the Fiscal Year Ending March 2022
First written in FY2018. 5 of 7 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「The company applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Accounting Standard"), and related standards, from the beginning of the current consolidated fiscal year. Accordingly, 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.」
Following application of the Revenue Recognition Standard, the methods of recognizing revenue from long-term repair warranty services, design change fees and optional construction work were changed, and the full-year impact was also disclosed. - FY2022-Q3RestatedAnnual report
「The application of the Revenue Recognition Standard and other relevant standards follows the transitional treatment prescribed in the proviso to paragraph 84 of the Revenue Recognition Standard. The cumulative effect of retrospectively applying the new accounting policy before the beginning of the first quarter was added to or deducted from retained earnings at the beginning of the first quarter, and the new accounting policy was applied from that opening balance. As a result, revenue for the nine months ended the third quarter decreased by ¥14,999 thousand, cost of sales increased by ¥25,108 thousand, and operating income, ordinary income and profit before income taxes for the quarter each decreased by ¥40,107 thousand. The opening balance of retained earnings decreased by ¥281,377 thousand.」
The impact of the Revenue Recognition Standard, applied from the beginning of the fiscal year ending March 2022, on revenue, profit and retained earnings for the nine months ended the third quarter has been updated and disclosed. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the six months ended the second quarter increased by ¥3,355 thousand, cost of sales increased by ¥20,855 thousand, and operating income, ordinary income and profit before income taxes for the quarter each decreased by ¥17,499 thousand. The opening balance of retained earnings decreased by ¥281,377 thousand.」
The impact of the Revenue Recognition Standard, applied from the beginning of the first quarter, on revenue, profit and retained earnings for the six months ended the second quarter has been updated and disclosed. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other relevant standards were applied from the beginning of the first quarter. 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. As a result, revenue for the first quarter increased by ¥7,047 thousand, cost of sales increased by ¥5,789 thousand, and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥1,257 thousand. The opening balance of retained earnings decreased by ¥281,377 thousand.」
The Revenue Recognition Standard and other relevant standards, which had been scheduled for application from the beginning of the fiscal year ending March 2022, were actually applied from the beginning of the first quarter. The methods of recognizing revenue from long-term repair warranty services, design change fees and optional construction work were also changed, and the impact of the application was disclosed. - FY2020RestatedAnnual report
「(2) Scheduled application date The standards will be applied from the beginning of the fiscal year ending March 2022.」
The plan to apply the accounting standards for revenue recognition and other relevant standards from the beginning of the fiscal year ending March 2022 has been reaffirmed, and the impact is currently being assessed. - FY2019RestatedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022.」
The policy of applying the accounting standards for revenue recognition and other relevant standards from the beginning of the fiscal year ending March 2022 has been reaffirmed. - FY2018First statedAnnual report
「Scheduled adoption date for the “Accounting Standard for Revenue Recognition” and related standards: adoption from the beginning of the fiscal year ending March 2022.」
Plans to adopt the revenue recognition standard and related guidance from the beginning of the fiscal year ending March 2022; the impact on the consolidated financial statements was still being assessed.