Adoption of the Revenue Recognition Standard and Reclassification to Contract Liabilities
First written in FY2023-Q1. 3 of 6 entries say "Advanced", first in FY2023-Q2. Latest entry: FY2025.
5 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The Company determined that franchise membership fees and other amounts satisfy performance obligations over the contract period and recognises the related revenue over time.」
The Company continues to allocate franchise membership fees and other amounts over the contract period and account for points-related contract liabilities following application of the revenue recognition standard. - FY2024RestatedAnnual report
「The Company determined that franchise membership fees and other amounts satisfy performance obligations over the contract period and recognises the related revenue over time.」
The Company continues to allocate franchise membership fees and other amounts over the contract period and account for points-related contract liabilities following application of the revenue recognition standard. - FY2023AdvancedAnnual report
「Because the revenue recognition standard and other standards were applied, the points provision previously presented under current liabilities in the consolidated balance sheet for the previous consolidated fiscal year has been included in contract liabilities from the current consolidated fiscal year. As a result, compared with the previous accounting treatment, sales for the current consolidated fiscal year decreased by ¥848,246 thousand, cost of sales decreased by ¥851,044 thousand, operating loss decreased by ¥2,798 thousand, and ordinary income increased by ¥2,798 thousand.」
The Company disclosed the change in presentation to contract liabilities resulting from the full-year application of the revenue recognition standard, together with the cumulative effects on sales, cost of sales, operating loss and ordinary income. - FY2023-Q3AdvancedAnnual report
「As a result, compared with the previous accounting treatment, sales for the nine-month period ended the third quarter of the current consolidated fiscal year decreased by ¥630,258 thousand, cost of sales decreased by ¥627,684 thousand, operating loss increased by ¥2,574 thousand, ordinary income decreased by ¥2,574 thousand, and loss before income taxes for the quarter increased by ¥2,574 thousand. The opening balance of retained earnings also decreased by ¥4,201 thousand.」
The Company updated its disclosure of the cumulative effects of applying the revenue recognition standard on sales, cost of sales, operating loss, ordinary income, loss before income taxes for the quarter and retained earnings. The change in presentation to contract liabilities is also continuing. - FY2023-Q2AdvancedAnnual report
「As a result, compared with the previous accounting treatment, sales for the six-month period ended the second quarter of the current consolidated fiscal year decreased by ¥412,699 thousand, cost of sales decreased by ¥409,490 thousand, operating loss increased by ¥3,209 thousand, and ordinary income and profit before income taxes for the quarter decreased by ¥3,209 thousand each. The opening balance of retained earnings also decreased by ¥4,201 thousand.」
The Company disclosed the specific effects of applying the revenue recognition standard on sales, cost of sales, operating loss and retained earnings, and also advanced the change in presentation to contract liabilities. - FY2023-Q1First statedAnnual report
「From the beginning of the first quarter of the fiscal year, we applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards, recognizing revenue at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer.」
The Company applied the revenue recognition standard from the beginning of the first quarter of the current accounting period. It changed its revenue recognition and presentation methods by recognising franchise membership fees and other amounts over the contract period, presenting agent transactions on a net basis, and deferring the recognition of points as a performance obligation. The application reduced quarterly sales by ¥204,750 thousand and reduced the opening balance of retained earnings by ¥4,201 thousand.