Preparation for Adoption of the Accounting Standard for Revenue Recognition
First written in FY2018. 4 of 6 entries say "Cited as achieved", first in FY2022-Q2. Latest entry: 2026-08-03.
- 2026-08-03Cited as achievedGeneral Meetings of Shareholders
「Our Company mainly sells building materials and plywood (timber business); clothing, daily necessities, home appliances and food products (distribution business); new and used vehicles (automotive sales business); and office supplies and other products (other business).」
The accounting policy for revenue recognition and the revenue recognition methods for each business are described as disclosures of results following adoption. - FY2022Cited as achievedAnnual report
「As a result, for the current consolidated fiscal year, revenue decreased by ¥1,045.701 million, cost of sales by ¥944.778 million, selling, general and administrative expenses by ¥92.380 million, and operating profit by ¥8.541 million, respectively. Non-operating income increased by ¥13.243 million, resulting in increases of ¥4.701 million in ordinary profit and profit before income taxes and other adjustments, respectively. In addition, the beginning balance of retained earnings for the current fiscal year increased by ¥86.238 million.」
The company disclosed the actual impact of the revenue recognition accounting standard applied from the beginning of the fiscal year on full-year revenue, operating profit, ordinary profit, and other items. - FY2022-Q3Cited as achievedAnnual report
「As a result, for the nine-month period ended the third quarter of the current consolidated fiscal year, revenue decreased by ¥785.034 million, cost of sales by ¥700.214 million, selling, general and administrative expenses by ¥71.956 million, and operating profit by ¥12.862 million, respectively. Non-operating income increased by ¥10.336 million, resulting in increases of ¥2.525 million in ordinary loss and loss before income taxes and other adjustments, respectively. In addition, the beginning balance of retained earnings for the current fiscal year increased by ¥86.238 million.」
The company disclosed the actual impact of the revenue recognition accounting standard applied from the first quarter on revenue, operating profit, and other items for the nine-month period ended the third quarter. - FY2022-Q2Cited as achievedAnnual report
「As a result, for the six-month period ended the second quarter of the current consolidated fiscal year, revenue decreased by ¥530.645 million, cost of sales by ¥478.404 million, selling, general and administrative expenses by ¥46.901 million, and operating profit or loss by ¥5.339 million, respectively. Non-operating income increased by ¥7.082 million, resulting in increases of ¥1.742 million in ordinary profit or loss and profit or loss before income taxes and other adjustments, respectively.」
The company disclosed the actual impact of the revenue recognition accounting standard applied from the beginning of the first quarter of the current consolidated fiscal year on each profit and loss item for the six-month period ended the second quarter. - FY2022-Q1AchievedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year and began recognizing revenue 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 revenue recognition accounting standard that had previously been scheduled for adoption was applied from the beginning of the first quarter of the current consolidated fiscal year. The methods for recognizing agent transactions, installment sales, point transactions, and other items were also changed. - FY2018First statedAnnual report
「The company plans to apply the standards from the beginning of the fiscal year ending May 2022. The company is currently assessing the impact of applying the Accounting Standard for Revenue Recognition and related standards on the consolidated financial statements.」
The company indicated that it plans to apply the new revenue recognition standard from the beginning of the fiscal year ending May 2022 and is assessing its impact on the financial statements.