Adoption of the Revenue Recognition Accounting Standard and Recognition of Contract Liabilities
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, compared with before application of the Revenue Recognition Standard and other standards, revenue and gross profit for the current consolidated fiscal year increased by ¥163.451 million, selling, general and administrative expenses decreased by ¥183.640 million, and operating income, ordinary income and profit before income taxes for the year each increased by ¥347.091 million.」
The company continues to apply the Revenue Recognition Standard and has specifically disclosed its impact on earnings for the current fiscal year and the ¥1,253.845 million decrease in retained earnings at the beginning of the period. - FY2022-Q3RestatedAnnual report
「As a result, revenue and gross profit for the cumulative third quarter of the current consolidated accounting period increased by ¥25.059 million, selling, general and administrative expenses decreased by ¥125.772 million, and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥150.832 million. In addition, the beginning balance of retained earnings decreased by ¥1,253.845 million.」
The company has specifically disclosed the impact on earnings for the cumulative third quarter and the decrease in retained earnings at the beginning of the period resulting from application of the Revenue Recognition Standard. - FY2022-Q2RestatedAnnual report
「As a result, revenue and gross profit for the cumulative second quarter of the current consolidated accounting period increased by ¥19.921 million, selling, general and administrative expenses decreased by ¥88.312 million, and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥108.233 million. In addition, the beginning balance of retained earnings decreased by ¥1,253.845 million.」
The company has specifically disclosed the impact on earnings for the cumulative current quarter and the decrease in retained earnings at the beginning of the period resulting from application of the Revenue Recognition Standard. - FY2022-Q1First statedAnnual report
「The company has 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 accounting period. 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.」
From 1 June 2021, the company applied the Revenue Recognition Standard and changed from recognizing revenue for points under customer loyalty programs and similar arrangements to deferring revenue recognition by treating them as performance obligations. As a result of the application, retained earnings at the beginning of the period decreased by ¥1,253 million, and contract liabilities of ¥1,882 million were recognized.