Adoption of the revenue recognition accounting standard
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「As a result, for the cumulative third-quarter period, net sales decreased by ¥127.690 million, cost of sales decreased by ¥36.259 million, and operating income, ordinary income and quarterly net income before income taxes each decreased by ¥3.192 million. The beginning balance of retained earnings also decreased by ¥6.919 million.」
The Revenue Recognition Standard continued to be applied, with the impact on the cumulative third-quarter period disclosed as decreases of ¥127.690 million in net sales, ¥3.192 million in operating income and related items, and ¥6.919 million in beginning retained earnings. - FY2023-Q2RestatedAnnual report
「As a result, for the cumulative second-quarter period, net sales decreased by ¥86.059 million, cost of sales decreased by ¥23.989 million, and operating income, ordinary income and quarterly net income before income taxes each decreased by ¥1.776 million. The beginning balance of retained earnings also decreased by ¥6.919 million.」
The Revenue Recognition Standard continued to be applied, with the impact on the cumulative second-quarter period disclosed as decreases of ¥86.059 million in net sales, ¥1.776 million in operating income and related items, and ¥6.919 million in beginning retained earnings. - FY2023-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020, hereinafter the "Revenue Recognition Standard") and other standards from the beginning of the first quarter accounting period, recognizing revenue 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. As a result, for the cumulative first-quarter period, net sales decreased by ¥39.150 million, cost of sales decreased by ¥13.128 million, and operating income, ordinary income and quarterly net income before income taxes each decreased by ¥882 thousand. The beginning balance of retained earnings also decreased by ¥6.919 million.」
The Revenue Recognition Standard was applied from the beginning of the first quarter accounting period, changing the revenue recognition methods for agency transactions, points, returns and overseas sales. As a result, quarterly net sales decreased by ¥39.150 million, operating income and related items by ¥882 thousand, and beginning retained earnings by ¥6.919 million.