2022 Adoption of the Revenue Recognition Accounting Standard and Related Standards
First written in FY2020. 2 of 5 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
- FY2022AchievedAnnual report
「The company applies the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning 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 Revenue Recognition and related standards were actually adopted from the beginning of the fiscal year ending March 2022, and the full-year impact disclosed included a ¥2,184 million decrease in revenue and a ¥169 million increase in operating income and other items. - FY2022-Q3Third-quarter cumulative impact of the revenue recognition accounting standard updatedAnnual report
「As a result, revenue for the nine-month period ended 31 December decreased by ¥1,440 million, cost of sales decreased by ¥1,661 million, and operating income, ordinary income and profit before income taxes for the quarter increased by ¥220 million each. In addition, the opening balance of retained earnings increased by ¥287 million.」
The company disclosed the impact of adopting the revenue recognition accounting standard for the nine-month period, including a ¥1,440 million decrease in revenue and a ¥220 million increase in operating income, ordinary income and other items. - FY2022-Q2Cumulative impact of adopting the revenue recognition accounting standard disclosedAnnual report
「As a result, revenue for the six-month period ended 30 September decreased by ¥1,169 million, cost of sales decreased by ¥1,147 million, and operating income, ordinary income and profit before income taxes for the quarter decreased by ¥22 million each. In addition, the opening balance of retained earnings increased by ¥287 million.」
The company disclosed the impact of adopting the revenue recognition accounting standard for the six-month period, including a ¥1,169 million decrease in revenue and a ¥22 million decrease in operating income, ordinary income and other items. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan 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 Revenue Recognition and related standards, scheduled for adoption from the beginning of the fiscal year ending March 2022, were implemented from 1 April 2021. As a result, revenue for the quarter decreased by ¥619 million, while operating income, ordinary income and other items decreased by ¥58 million. - FY2020First statedAnnual report
「Scheduled adoption date for the Accounting Standard for Revenue Recognition and related standards: scheduled for adoption from the beginning of the fiscal year ending March 2022.」
The company stated that the Accounting Standard for Revenue Recognition and related standards were scheduled to be adopted from the beginning of the fiscal year ending March 2022, and that the impact on the consolidated financial statements was under evaluation.