Changes in Revenue Recognition Method Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 2 of 3 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022-Q3.
2 other companies' latest entry also says "Advanced".
- FY2022-Q3AdvancedAnnual report
「As a result, revenue and cost of sales for the first 9 months of the current consolidated fiscal year increased by ¥478 million and ¥285 million, respectively, while operating profit, ordinary profit and profit before income taxes increased by ¥193 million each.」
The cumulative impact of applying the Revenue Recognition Standard and other standards was an increase of ¥478 million in revenue and ¥193 million in operating profit and other figures. - FY2022-Q2AdvancedAnnual report
「As a result, revenue and cost of sales for the first 6 months of the current consolidated fiscal year increased by ¥277 million and ¥213 million, respectively, while operating profit, ordinary profit and profit before income taxes increased by ¥64 million each.」
The impact of applying the Revenue Recognition Standard and other standards for the first 6 months was an increase of ¥277 million in revenue and ¥64 million in operating profit and other figures. - FY2022-Q1First statedAnnual report
「We applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, referred to below as the “Revenue Recognition Standard”) and other standards 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 goods or services when control of the promised goods or services is transferred to the customer. As a result, revenue and cost of sales for the first 3 quarters of the current fiscal year increased by ¥253 million and ¥210 million, respectively, while operating profit, ordinary profit and profit before income taxes increased by ¥43 million each.」
The Revenue Recognition Standard and other standards were applied from 1 April 2021, resulting in changes including recognition of long-term work according to its degree of completion and recognition of agent transactions on a net basis. The application increased revenue by ¥253 million and operating profit and other figures by ¥43 million.