Adoption of the Revenue Recognition Accounting Standard and Change to the Elapsed Voyage Days Basis
First written in FY2022-Q1. . Latest entry: FY2022.
12 other companies' latest entry also says "Other".
- FY2022Disclosure of the impact of applying the accounting standard for the fiscal yearAnnual report
「As a result, revenue for the current consolidated fiscal year increased by ¥13,583 million, cost of sales increased by ¥7,279 million, and operating income, ordinary income and profit before income taxes increased by ¥6,303 million each. Basic earnings per share increased by ¥65.45. Retained earnings at the beginning of the fiscal year also increased by ¥3,982 million.」
The company disclosed the annual cumulative impact of applying the revenue recognition accounting standard. Revenue increased by ¥13,583 million, operating income, ordinary income and other items increased by ¥6,303 million, and retained earnings at the beginning of the fiscal year increased by ¥3,982 million. - FY2022-Q3Cumulative update of the impact of applying accounting standardsAnnual report
「As a result, revenue for the nine months ended the third quarter of the current consolidated fiscal year increased by ¥6,690 million, cost of sales increased by ¥2,564 million, and operating income, ordinary income and profit before income taxes increased by ¥4,125 million each. Retained earnings at the beginning of the fiscal year also increased by ¥3,982 million.」
The company disclosed that, for the nine months ended the third quarter, applying the revenue recognition accounting standard increased revenue by ¥6,690 million and operating income, ordinary income and other items by ¥4,125 million. - FY2022-Q2Cumulative disclosure of the impact of applying the accounting standardAnnual report
「As a result, revenue for the six months ended the second quarter of the current consolidated fiscal year increased by ¥6,402 million, cost of sales increased by ¥4,799 million, and operating income, ordinary income and profit before income taxes increased by ¥1,602 million each. Retained earnings at the beginning of the fiscal year also increased by ¥3,982 million.」
The company disclosed the impact of applying the revenue recognition accounting standard for the six months ended the second quarter: revenue increased by ¥6,402 million, operating income, ordinary income and other items increased by ¥1,602 million, and retained earnings at the beginning of the fiscal year increased by ¥3,982 million. - FY2022-Q1First statedAnnual report
「The company applied 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, recognising 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. Previously, the company used the voyage-completion method, under which shipping revenue and the corresponding shipping costs were recognised when a voyage was completed, except that the percentage-of-completion method for combined transport was used for container vessels. From the beginning of the first quarter of the current consolidated fiscal year, the company changed to a method under which shipping revenue and the corresponding shipping costs are recognised based on the number of elapsed voyage days.」
From 1 April 2021, the company applied the revenue recognition accounting standard and other standards and changed its method of recognising shipping revenue and costs from the voyage-completion method and other methods to a method based on elapsed voyage days. As a result of the application, first-quarter revenue increased by ¥3,192 million, operating income, ordinary income and profit before income taxes increased by ¥1,121 million each, and retained earnings at the beginning of the period increased by ¥3,982 million.