Preparing to apply the revenue recognition accounting standard from the fiscal year ending March 2022
First written in FY2019. 4 of 7 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
92 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「From the first quarter of the current fiscal year, the Company changed its method of recognizing revenue from city gas sales to a delivery basis by reasonably estimating the performance obligations satisfied as of the end of the period.」
Following application of the Revenue Recognition Accounting Standard, the accounting policy of recognizing city gas revenue on a delivery basis rather than the former meter-reading-date basis continues. - FY2023-Q1ReframedAnnual report
「In the sale of city gas, contractual obligations to supply gas arise over the contract period, and the performance obligation is satisfied each time supply is made. Previously, however, the Company recognized revenue on a meter-reading-date basis in accordance with the Gas Business Accounting Regulations (MITI Ordinance No. 15 of 1954). As transitional rate regulation was lifted on 1 October 2021 and the Company carried out an absorption-type company split effective 1 April 2022 under which its gas pipeline business and other operations were transferred to its wholly owned subsidiary Tokyo Gas Network Co., Ltd., the Company no longer qualified as a general gas pipeline operator under the Gas Business Accounting Regulations. Accordingly, from the first quarter of the current fiscal year, the Company changed its method of recognizing revenue from city gas sales to a delivery basis, reasonably estimating the performance obligations satisfied as of the end of the period.」
Application of the Revenue Recognition Accounting Standard was reflected in a specific change from the former meter-reading-date basis under the Gas Business Accounting Regulations to recognizing city gas revenue on a delivery basis. The change was applied retrospectively and reflected in comparative information for the prior-year quarter and other periods. - FY2022RestatedAnnual report
「As a result, the opening balance of retained earnings increased by ¥5,255 million, net sales for the current consolidated fiscal year decreased by ¥47,090 million, and operating profit, ordinary profit and profit before income taxes for the year each increased by ¥4,361 million.」
The Revenue Recognition Accounting Standard was applied for the full fiscal year, and the amounts of its impact on retained earnings, net sales, operating profit and other items were disclosed definitively. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the first quarter of the 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 Accounting Standard scheduled for application from the beginning of the fiscal year ending March 2022 was applied, changing the recognition methods for electricity revenue, gas equipment maintenance, renewable energy surcharges, points and other items. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the Revenue Recognition Accounting Standard) and related standards were applied from the beginning of the first quarter of the current 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. As a result, the opening balance of retained earnings increased by ¥5,255 million, net sales for the cumulative first quarter decreased by ¥10,579 million, and operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥574 million.」
The Revenue Recognition Accounting Standard, which had been scheduled to apply from the beginning of the fiscal year ending March 2022, was applied from the beginning of the first quarter of the current fiscal year. - FY2020RestatedAnnual report
「Scheduled to apply from the beginning of the fiscal year ending March 2022.」
The plan to apply the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 continues. - FY2019First statedAnnual report
「Scheduled to apply from the beginning of the fiscal year ending March 2022.」
The accounting standards for revenue recognition and related standards were scheduled to apply from the beginning of the fiscal year ending March 2022, with the amount of the impact undetermined at that time.