Change in Revenue Presentation following Adoption of the Revenue Recognition Standard
First written in FY2023-Q1. . Latest entry: FY2023.
1 other company's latest entry also says "Other".
- FY2023Updated with full-year impactAnnual report
「As a result, revenue for the fiscal year decreased by ¥360 million, cost of sales decreased by ¥257 million, selling, general and administrative expenses decreased by ¥67 million, operating income decreased by ¥36 million, and ordinary income and profit before income taxes decreased by ¥10 million each. There was no impact on retained earnings at the beginning of the period.」
The Company updated the full-year impact of applying the revenue recognition accounting standard, stating that revenue decreased by ¥360 million, operating income decreased by ¥36 million, and ordinary income and other items decreased by ¥10 million. - FY2023-Q3Update on the Impact of AdoptionAnnual report
「As a result, revenue for the nine-month period ended in the third quarter decreased by ¥264 million, cost of sales decreased by ¥197 million, and selling, general and administrative expenses decreased by ¥57 million. Operating income, ordinary income and profit before income taxes decreased by ¥9 million each. There was no impact on retained earnings at the beginning of the period.」
The Company updated the impact of applying the revenue recognition accounting standard for the nine-month period, stating that revenue decreased by ¥264 million and operating income, ordinary income and other items decreased by ¥9 million each. - FY2023-Q2Update on the Impact of AdoptionAnnual report
「As a result, revenue for the six-month period ended in the second quarter decreased by ¥191 million, cost of sales decreased by ¥128 million, and selling, general and administrative expenses decreased by ¥53 million. Operating income, ordinary income and profit before income taxes decreased by ¥10 million each. There was no impact on retained earnings at the beginning of the period.」
The Company updated the impact of applying the revenue recognition accounting standard for the six-month period, stating that revenue decreased by ¥191 million and operating income, ordinary income and other items decreased by ¥10 million each. - FY2023-Q1First statedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 transfers to the customer.」
The Company applied the revenue recognition accounting standard and related standards from the beginning of the first quarter, changing its accounting treatment to deduct consideration paid to customers, previously recorded as sales promotion expenses, from revenue, and to recognize franchise joining fees over the contract period. As a result, revenue for the quarter decreased by ¥114 million, while operating income and other items decreased by ¥2 million.