Net presentation and point accounting following adoption of the revenue-recognition standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
24 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For transactions including consignment sales that we determined involved acting as an agent, we recognize revenue on a net basis by deducting the amount paid to the consignor from the total consideration received from customers.」
The consolidated financial statements continue to recognize revenue from consignment sales on a net basis and treat points and benefits as performance obligations. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second quarter decreased by ¥2,101.766 million, but operating income, ordinary income and quarterly net income were unaffected.」
Following adoption of the Accounting Standard for Revenue Recognition, the company continued to present consignment sales on a net basis and account for points as performance obligations. Net sales for the cumulative quarter decreased by ¥2,101.766 million, but there was no impact on profit. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards have been applied from the beginning of the first-quarter accounting period. For revenue from consignment sales, we previously recognized revenue at the gross amount of consideration received from customers. Following an assessment of our role in providing goods or services to customers, whether as principal or agent, we have changed to recognizing revenue on a net basis after deducting amounts paid to suppliers from the gross amount.」
The Accounting Standard for Revenue Recognition was applied from the beginning of the quarter, and consignment sales were changed from gross to net presentation. The company also changed its method of accounting for its own points to treat them as performance obligations, reducing quarterly net sales by ¥856.017 million, with no impact on profit or loss.