Change in Method for Estimating Progress on Financial Technology Projects
First written in FY2023-Q1. 3 of 4 entries say "Restated". Latest entry: FY2025.
91 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「For Financial Technology projects, the company determined that, because employee compensation fluctuates little, it was reasonable to estimate progress based on hours worked. Accordingly, it changed the input method used to estimate progress toward satisfying performance obligations over time, from the former method based on the ratio of costs incurred to estimated total project costs to a method based on the ratio of hours incurred to estimated total hours.」
The company continues to estimate progress on Financial Technology projects using the ratio of hours incurred. - FY2023-Q3RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the company determined that, because employee compensation fluctuates little on Financial Technology projects, it was reasonable to estimate progress based on hours worked. Accordingly, it changed the input method used to estimate progress toward satisfying performance obligations over time, from the former method based on the ratio of costs incurred to estimated total project costs to a method based on the ratio of hours incurred to estimated total hours.」
The company continues to estimate progress on Financial Technology projects using the ratio of hours incurred. - FY2023-Q2RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the company determined that, because employee compensation fluctuates little on Financial Technology projects, it was reasonable to estimate progress based on hours worked. Accordingly, it changed the input method used to estimate progress toward satisfying performance obligations over time, from the former method based on the ratio of costs incurred to estimated total project costs to a method based on the ratio of hours incurred to estimated total hours.」
The company continues to estimate progress on Financial Technology projects using the ratio of hours incurred and considers the impact on earnings for the cumulative second quarter to be immaterial. - FY2023-Q1First statedAnnual report
「During the first quarter of the current consolidated fiscal year, the company determined that, because employee compensation fluctuates little on Financial Technology projects, it was reasonable to estimate progress based on hours worked. Accordingly, it changed the input method used to estimate progress toward satisfying performance obligations over time, from the former method based on the ratio of costs incurred to estimated total project costs to a method based on the ratio of hours incurred to estimated total hours.」
For Financial Technology projects, the company changed the method of measuring progress toward satisfying performance obligations from the ratio of costs incurred to the ratio of hours incurred. It considers the impact of the change on first-quarter earnings to be immaterial.