Applying the revenue recognition accounting standard from the fiscal year ending March 2022
First written in FY2019. 1 of 7 entries say "Restated". Latest entry: FY2022.
- FY2022Updated the impact of application to full-year resultsAnnual report
「As a result, for the current consolidated fiscal year, the impact on revenue was a ¥96 million decrease in net sales and a ¥38 million increase in cost of sales, while operating profit, ordinary profit and profit before income taxes decreased by ¥135 million each. The beginning balance of retained earnings also decreased by ¥2,230 million.」
The Company applied the Revenue Recognition Standard from the beginning of the fiscal year ending March 2022 and specified its full-year impact on net sales and profit, as well as on the beginning balance of retained earnings. - FY2022-Q3Updated the cumulative impact of applicationAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, the impact on revenue was a ¥70 million decrease in net sales and a ¥30 million increase in cost of sales, while operating profit, ordinary profit and profit before income taxes decreased by ¥100 million each. The beginning balance of retained earnings also decreased by ¥2,230 million.」
The impact of applying the Revenue Recognition Standard was updated for the cumulative third quarter, with net sales down ¥70 million, cost of sales up ¥30 million, operating profit, ordinary profit and other income measures down ¥100 million, and the beginning balance of retained earnings down ¥2,230 million. - FY2022-Q2Updated the cumulative impact of applicationAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, the impact on revenue was a ¥3 million decrease in net sales and a ¥29 million increase in cost of sales, while operating profit, ordinary profit and profit before income taxes decreased by ¥32 million each. The beginning balance of retained earnings also decreased by ¥2,230 million.」
The Company continued to apply the Revenue Recognition Standard from the beginning of the first quarter of the 55th fiscal year, specifying the impact for the cumulative second quarter as a ¥3 million decrease in net sales, a ¥29 million increase in cost of sales, a ¥32 million decrease in operating profit, ordinary profit and other income measures, and a ¥2,230 million decrease in the beginning balance of retained earnings. - FY2022-Q1AchievedAnnual report
「The Company 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, and recognizes revenue at the amount of consideration expected to be received in exchange for the promised goods or services when control of those goods or services is transferred to the customer.」
The Company applied the Revenue Recognition Standard from the beginning of the fiscal year ending March 2022. It changed the recognition method for construction temporary materials transactions with repurchase conditions, reducing quarterly net sales by ¥60 million, operating profit, ordinary profit and other income measures by ¥90 million, and the beginning balance of retained earnings by ¥2,230 million. - FY2021Quantifying the impact of applicationAnnual report
「The cumulative impact of the application of the accounting standards for revenue recognition and related standards will be reflected in net assets at the beginning of the following consolidated fiscal year, and the beginning balance of retained earnings is expected to decrease by ¥2,230 million. This is mainly because, for transactions involving construction temporary materials subject to repurchase conditions that were previously judged to be sales contracts and for which revenue was recognized at shipment based on the initial selling price, the method will be changed in accordance with the accounting standards for revenue recognition and related standards to recognize as revenue the amount of consideration expected to be received from customers over the estimated period of customer use.」
While maintaining the planned application from the beginning of the fiscal year ending March 2022, the Company specified a ¥2,230 million decrease in the cumulative impact on beginning retained earnings and disclosed the main reason for the change. - FY2020RestatedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The Company has reconfirmed its plan to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022. The impact is under evaluation. - FY2019First statedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The Accounting Standard for Revenue Recognition and its Implementation Guidance are scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact is currently being assessed.