Preparation for the Application of New Accounting Standards, Including Revenue Recognition
First written in FY2021. 3 of 5 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「The Company applies the Revenue Recognition Accounting Standard and other standards in accordance with the transitional treatment prescribed in the proviso to Paragraph 84 of the standard. The cumulative effect of retrospectively applying a new accounting policy before the beginning of the current consolidated fiscal year is added to or deducted from retained earnings at the beginning of the current consolidated fiscal year, after which the new accounting policy is applied from that opening balance.」
The Revenue Recognition Accounting Standard and other standards, scheduled in the previous fiscal year and adopted from FY2022-Q1, continued to be applied throughout the fiscal year. Net sales and cost of sales each decreased by ¥16,175.476 million. - FY2022-Q3RestatedAnnual report
「As a result of applying the Revenue Recognition Accounting Standard and other standards, net sales and cost of sales for the nine months ended 31 December decreased by ¥11,892.874 million each.」
The Company continues to apply the Revenue Recognition Accounting Standard and other standards adopted from the beginning of the first quarter of the current consolidated fiscal year. For the nine months ended 31 December, net sales and cost of sales each decreased by ¥11,892.874 million. The standard had already been adopted as planned in the previous fiscal year and is not at a new implementation stage. - FY2022-Q2RestatedAnnual report
「As a result of applying the Revenue Recognition Accounting Standard and other standards, net sales and cost of sales for the six months ended 30 September decreased by ¥7,246.540 million each.」
The Company continued to apply the Revenue Recognition Accounting Standard and other standards, adopted from the beginning of the first quarter of the current consolidated fiscal year, during the six months ended 30 September, and reported the impact on net sales and cost of sales as ¥7,246.540 million. - FY2022-Q1AchievedAnnual report
「The Company has adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting 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, when the Company’s performance obligation is to arrange for goods or services to be provided by another party in accordance with a promise made to a customer, the Company has changed from recognizing revenue on a gross basis to recognizing revenue on a net basis.」
The Revenue Recognition Accounting Standard and other standards, which had been scheduled for adoption from the beginning of the fiscal year ending March 2022, were adopted from the beginning of the first quarter of the current consolidated fiscal year. Net sales and cost of sales each decreased by ¥3,099.079 million due to the change from gross to net presentation and other factors. - FY2021First statedAnnual report
「Scheduled adoption date: The standard is scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The Company plans to adopt the accounting standard for revenue recognition, the accounting standard for fair value measurement and other standards from the beginning of the fiscal year ending March 2022, and is currently evaluating the impact.