Changes in Revenue Recognition Methods and Presentation Following the Application of the Revenue Recognition Accounting Standard and Related Standards
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
3 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「Compared with the figures before applying the Revenue Recognition Standard and other standards, the consolidated income statement for the current consolidated fiscal year shows decreases of ¥2,898 million in net sales, ¥927 million in cost of sales and ¥1,883 million in selling, general and administrative expenses. Operating profit, ordinary profit and profit before income taxes each decreased by ¥87 million.」
The company has disclosed the impact of applying the Revenue Recognition Standard for the full fiscal year on net sales, expenses and profit in specific monetary amounts. - FY2022-Q3AdvancedAnnual report
「As a result, during the first nine months of the current consolidated fiscal year, net sales decreased by ¥2,219 million, cost of sales decreased by ¥751 million, and selling, general and administrative expenses decreased by ¥1,433 million. Operating profit, ordinary profit and profit before income taxes each decreased by ¥35 million. The impact on the opening balance of retained earnings was immaterial.」
The company has disclosed the specific impact of applying the Revenue Recognition Standard and other standards on the first nine months, including decreases of ¥2,219 million in net sales and ¥35 million each in operating profit, ordinary profit and other profit measures. - FY2022-Q2AdvancedAnnual report
「As a result, during the first six months of the current consolidated fiscal year, net sales decreased by ¥1,604 million, cost of sales decreased by ¥631 million, and selling, general and administrative expenses decreased by ¥936 million. Operating profit, ordinary profit and profit before income taxes each decreased by ¥36 million.」
The company has disclosed the specific impact of applying the Revenue Recognition Standard on the year-to-date period, including a ¥1,604 million decrease in net sales and ¥36 million decreases in operating profit, ordinary profit and other profit measures. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition 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 promised goods or services when control of those goods or services is transferred to the customer. Accordingly, the company and its consolidated subsidiaries changed the method of recognizing revenue from sales of merchandise and products from recognition at shipment, as previously applied, to recognition upon delivery to the customer. Consideration paid to customers, such as sales incentives and rebates, was previously treated as selling, general and administrative expenses, but is now deducted from the transaction price.」
The company applied the Revenue Recognition Standard and other standards from 1 April 2021, changing the timing of revenue recognition from shipment to delivery and changing the treatment of sales incentives, rebates and other items. In the first quarter, net sales decreased by ¥1,003 million, while operating profit, ordinary profit and profit before income taxes decreased by ¥43 million each.