Applying the revenue recognition accounting standard from fiscal 2022
First written in FY2020. 3 of 5 entries say "Restated". Latest entry: FY2022.
50 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, for transactions conducted as an agent, the company changed from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis.」
The company continued to apply the accounting standards for revenue recognition in FY2022 and presented transactions conducted as an agent on a net basis. Net sales and cost of sales each decreased by ¥14,835 million compared with the previous method. - FY2022-Q3RestatedAnnual report
「As a result, for transactions conducted as an agent, the company changed from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis.」
The company continues to present transactions conducted as an agent on a net basis under the accounting standards for revenue recognition applied from the fiscal year ending March 2022. For the cumulative third quarter, net sales and cost of sales were each ¥11,232 million lower than under the previous method. - FY2022-Q2RestatedAnnual report
「As a result, for transactions conducted as an agent, the company changed from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis.」
The company continues to apply net presentation for transactions conducted as an agent under the accounting standards for revenue recognition applied from the fiscal year ending March 2022. Cumulative net sales and cost of sales for the first two quarters were each ¥7,376 million lower than under the previous method. - FY2022-Q1AchievedAnnual report
「The Group 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. Revenue is recognized at the point when control of promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The company applied the accounting standards for revenue recognition and related standards, which had been scheduled for application from the beginning of the fiscal year ending March 2022, from the beginning of the first quarter of the current consolidated fiscal year. Transactions conducted as an agent were changed to net presentation, reducing net sales and cost of sales by ¥3,656 million each compared with the previous method. - FY2020First statedAnnual report
「(2) Scheduled date of application: We will apply the standard from the beginning of the fiscal year ending March 2022.」
The company states that it plans to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022.