Planned application of the Accounting Standard for Revenue Recognition in the fiscal year ending March 2022
First written in FY2018. 5 of 8 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「As a result, net sales for the current consolidated fiscal year decreased by ¥10 million, cost of sales decreased by ¥2 million, operating profit, ordinary profit and net income before income taxes each decreased by ¥7 million, notes and accounts receivable and contract assets decreased by ¥5,864 million, deferred lease revenue decreased by ¥4,875 million, and the opening balance of retained earnings decreased by ¥73 million.」
The Company continues to apply the Revenue Recognition Standard and provides specific disclosure of its impact on annual cumulative net sales, profit, contract assets and other items. - FY2022-Q3RestatedAnnual report
「As a result, net sales for the cumulative third quarter of the current consolidated fiscal year increased by ¥19 million, cost of sales increased by ¥22 million, operating profit, ordinary profit and quarterly net income before income taxes each decreased by ¥2 million, notes and accounts receivable decreased by ¥5,536 million, deferred lease revenue decreased by ¥4,641 million, deposits received decreased by ¥464 million, and work in process increased by ¥349 million. In addition, the opening balance of retained earnings decreased by ¥73 million.」
The Company continues to apply the Revenue Recognition Standard and provides specific disclosure of its impact on net sales, profit, accounts receivable, deferred lease revenue, work in process and retained earnings for the cumulative third quarter of the current fiscal year. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥31 million, cost of sales decreased by ¥22 million, operating profit, ordinary profit and quarterly net income before income taxes each decreased by ¥9 million, notes and accounts receivable decreased by ¥5,517 million, deferred lease revenue decreased by ¥5,043 million, and work in process increased by ¥393 million. In addition, the opening balance of retained earnings decreased by ¥73 million.」
The Company continues to apply the Revenue Recognition Standard and provides specific disclosure of its impact on net sales, profit, the balance sheet and retained earnings for the cumulative second quarter of the current fiscal year. - FY2022-Q1AchievedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the "Revenue Recognition Standard") and related 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 promised goods or services when control of those goods or services is transferred to the customer. Accordingly, although the completed-contract method had previously been applied to construction contracts for erected structures, from the current consolidated fiscal year the Company has changed to a method of recognizing revenue over a specified period as performance obligations are satisfied.」
The planned application from the beginning of the fiscal year ending March 2022 became actual implementation. Revenue recognition for construction contracts for erected structures was changed from the completed-contract method to recognition over a specified period, with the disclosed impacts including a ¥77 million increase in net sales, a ¥4 million decrease in operating profit and other income items, and a ¥73 million decrease in the opening balance of retained earnings. - FY2021AdvancedAnnual report
「The cumulative impact of applying the Accounting Standard for Revenue Recognition and related standards is expected to be reflected in net assets at the beginning of the following consolidated fiscal year, reducing the opening balance of retained earnings by ¥73.931 million.」
The planned application from the beginning of the fiscal year ending March 2022 is reconfirmed, and the impact on the opening balance of retained earnings is specified as a decrease of ¥73.931 million. - FY2020RestatedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The Company has reconfirmed that it plans to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022. - FY2019RestatedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The Company has reconfirmed that it plans to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022. - FY2018First statedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2032.」
The accounting standards for revenue recognition and related standards are scheduled to be applied from the beginning of the fiscal year ending March 2022, and the amount of the impact was still being assessed as of the preparation date.