Changes in revenue recognition methods following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. . Latest entry: FY2022.
- FY2022The full-year impact of the revenue recognition standard was disclosedAnnual report
「As a result, revenue for the current consolidated fiscal year increased by ¥330.075 million, while operating profit, ordinary profit and profit before income taxes each increased by ¥254.721 million. The cumulative impact on retained earnings of applying the new accounting policy retrospectively before the beginning of the current consolidated fiscal year was ¥210.679 million. However, because the cumulative impact after applying tax-effect accounting was reflected in net assets at the beginning of the current consolidated fiscal year, the opening balance of retained earnings decreased by ¥148.049 million.」
The company disclosed the impact of applying the revenue recognition accounting standard and related standards for the full fiscal year on revenue, operating profit, ordinary profit and other items, as well as the impact on the opening balance of retained earnings. - FY2022-Q3Disclosed the cumulative impact of applying the revenue recognition accounting standardAnnual report
「As a result, revenue for the cumulative third quarter of the current consolidated fiscal year increased by ¥153.970 million, while operating profit, ordinary profit and quarterly profit before income taxes each increased by ¥153.970 million. The opening balance of retained earnings for the current fiscal year also decreased by ¥210.679 million.」
The company disclosed the impact of applying the revenue recognition accounting standard and related standards on revenue, operating profit, ordinary profit and other items for the cumulative third quarter, as well as the decrease in the opening balance of retained earnings. - FY2022-Q1First statedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; the Revenue Recognition Standard) and other related standards from the beginning of the first-quarter consolidated accounting period. 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 transfers to the customer.」
The company applied the Accounting Standard for Revenue Recognition and related standards from the first quarter beginning 1 April 2021, changing its revenue recognition methods for machine security contracts, building maintenance contracts and construction contracts. As a result of the application, quarterly revenue, operating profit, ordinary profit and quarterly profit before income taxes increased by ¥124.513 million, while the opening balance of retained earnings decreased by ¥210.679 million.