Application of the New Revenue Recognition Accounting Standard for the Fiscal Year Ending March 2022
First written in FY2019. 2 of 4 entries say "Restated". Latest entry: FY2023-Q1.
64 other companies' latest entry also says "Restated".
- FY2023-Q1RestatedAnnual report
「The Company adopted the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the “Fair Value Measurement Guidance”) from the beginning of the current first-quarter consolidated accounting period. In accordance with the transitional treatment stipulated in paragraph 27-2 of the Fair Value Measurement Guidance, the Company decided to apply the new accounting policies prescribed by the guidance prospectively.」
The practice of applying accounting standards and related guidance from the beginning of a quarterly consolidated accounting period remains in place. The company disclosed that application of the guidance this time had no impact on the quarterly consolidated financial statements. - FY2022-Q1AchievedAnnual report
「The company applied 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. Revenue is recognized at the amount expected to be received in exchange for the relevant goods or services when control of the promised goods or services is transferred to the customer. As a result, for certain maintenance services, revenue had previously been recognized at a point in time based on acceptance inspection, but because the performance obligation for these services is satisfied over the contract period, the company has changed to a method of recognizing revenue evenly over the contract period. As a result, for the cumulative first quarter of the current fiscal year, net sales decreased by ¥81 million, cost of sales by ¥71 million, and operating income, ordinary income and quarterly net income before income taxes and other adjustments each decreased by ¥10 million.」
The accounting standard for revenue recognition, which had been scheduled for application from the beginning of the fiscal year ending March 2022, was applied from the beginning of the current quarter. Revenue recognition for maintenance services was changed from recognition in full upon acceptance inspection to even allocation over the contract period, and the impact on net sales and other items was also disclosed. - FY2020RestatedAnnual report
「We will apply the standard from the beginning of the fiscal year ending March 2022.」
The company plans to apply the accounting standards and related guidance for revenue recognition from the beginning of the fiscal year ending March 2022, and continues to evaluate the impact. - FY2019First statedAnnual report
「We will apply the standard from the beginning of the fiscal year ending March 2022.」
The company disclosed for the first time its plan to apply the accounting standard for revenue recognition and related implementation guidance from the beginning of the fiscal year ending March 2022. The impact on the consolidated financial statements was stated to be under evaluation at that time.