Preparation for adoption of the revenue recognition accounting standard
First written in FY2018. 5 of 8 entries say "Restated". Latest entry: FY2022.
50 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, compared with before retrospective application, net sales and cost of sales for the previous consolidated fiscal year decreased by ¥39,028.815 million, respectively, with no impact on gross profit or any subsequent profit figures.」
The application of the revenue recognition standard resulted in agent transactions being presented on a net basis, reducing previous-year net sales and cost of sales by ¥39,028.815 million, respectively, with no impact on profit. - FY2022-Q3RestatedAnnual report
「As a result, compared with before retrospective application, net sales and cost of sales for the first nine months of the previous consolidated fiscal year decreased by ¥29,934.822 million, respectively, with no impact on gross profit or any subsequent profit figures.」
The application of the revenue recognition standard reduced net sales and cost of sales for the first nine months of the previous fiscal year by ¥29,934.822 million, respectively, with no impact on profit below gross profit. - FY2022-Q2RestatedAnnual report
「As a result, compared with before retrospective application, net sales and cost of sales for the first six months of the previous consolidated fiscal year decreased by ¥18,558.969 million, respectively, with no impact on gross profit or any subsequent profit figures.」
The impact of presenting agent transactions on a net basis under the revenue recognition standard was specified: net sales and cost of sales for the first six months of the previous fiscal year decreased by ¥18,558.969 million, with no impact below gross profit. - FY2022-Q1AchievedAnnual report
「As a result, for transactions in which the role of the Group in providing goods or services to customers is that of an agent, the Company has changed from recognizing the total consideration received from customers as revenue to recognizing revenue on a net basis, after deducting amounts paid to suppliers from the amount received from customers.」
The Company applied the revenue recognition standard from the beginning of the fiscal year ending June 2022 and changed agent transactions from gross to net presentation. Compared with before retrospective application, net sales and cost of sales for the first quarter of the previous fiscal year decreased by ¥8,619.236 million, respectively, with no impact on gross profit or any subsequent profit figures. - FY2021AdvancedAnnual report
「For transactions in which the role of the Company or its consolidated subsidiaries in providing goods or services to customers is that of an agent, the Company had previously recognized the total consideration received from customers as revenue. Following the adoption of the accounting standards, the Company will change to recognizing revenue on a net basis, after deducting amounts paid to suppliers of the goods or services from the consideration received from customers. This is expected to reduce net sales.」
The impact of applying the revenue recognition standard from the beginning of the fiscal year ending June 2022 was specified, with agent transactions changing from gross to net presentation and net sales expected to decline. - FY2020RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending June 2022.」
The Company scheduled adoption of the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending June 2022 and was assessing the impact. - FY2019RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending June 2022.」
The Company scheduled adoption of the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending June 2022 and was assessing the impact. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 30 March 2018) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, 30 March 2018).」
The five-step model of identifying contracts, identifying performance obligations, determining the transaction price, allocating the transaction price and recognizing revenue when performance obligations are satisfied was scheduled to be applied from the beginning of the fiscal year ending June 2022. The impact was under assessment.