Application of the Revenue Recognition Accounting Standard for the Fiscal Year Ending June 2022
First written in FY2019. 4 of 7 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2025: 2 of 9 companies on the "Worse" side.
8 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「The Revenue Recognition Standard (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for the goods or services when control of the promised goods or services is transferred to the customer. As a result, for certain merchandise transactions in the imported vehicle sales-related business, transactions in which the Company's role in providing goods or services to customers qualifies as that of an agent are now recognized on a net basis, after deducting amounts paid to suppliers and others from amounts received from customers, whereas revenue was previously recognized at the gross amount of consideration received from customers.」
The Revenue Recognition Standard scheduled for application from the beginning of the fiscal year ending June 2022 was applied for the full year. Net presentation of agent transactions and other changes reduced net sales and cost of sales for the fiscal year by ¥1,649.772 million. - FY2022-Q3RestatedAnnual report
「As a result, net sales and cost of sales for the current third-quarter consolidated cumulative period decreased by ¥1,297.731 million.」
For the Revenue Recognition Standard applied from the first quarter, the net presentation of agent transactions and the deduction of sales incentives from cost of sales continued, reducing net sales and cost of sales by ¥1,297.731 million for the third-quarter cumulative period. - FY2022-Q2RestatedAnnual report
「The Revenue Recognition Standard (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the first-quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for the goods or services when control of the promised goods or services is transferred to the customer. As a result, for certain merchandise transactions in the imported vehicle sales-related business, transactions in which the Company's role in providing goods or services to customers qualifies as that of an agent are now recognized on a net basis, after deducting amounts paid to suppliers and others from amounts received from customers, whereas revenue was previously recognized at the gross amount of consideration received from customers. In addition, sales incentives received from suppliers of the Group's principal merchandise, vehicles, based on sales performance, were previously recognized as revenue. Since they are not consideration for performance obligations to customers, they are now deducted from cost of sales from the first-quarter consolidated accounting period. As a result, net sales and cost of sales for the current second-quarter consolidated cumulative period decreased by ¥841.991 million.」
For the Revenue Recognition Standard applied from FY2022-Q1, the net presentation of agent transactions and the deduction of sales incentives from cost of sales continued. For the second-quarter cumulative period, net sales and cost of sales decreased by ¥841.991 million. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the current first-quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for the goods or services when control of the promised goods or services is transferred to the customer. As a result, net sales and cost of sales for the current first-quarter consolidated cumulative period decreased by ¥399.576 million.」
The Revenue Recognition Standard, scheduled for application from the beginning of the fiscal year ending June 2022, was applied from the beginning of the current first-quarter consolidated accounting period. Transactions involving agents were presented on a net basis, and sales incentives were deducted from cost of sales, reducing net sales and cost of sales by ¥399.576 million. - FY2021RestatedAnnual report
「(2) Scheduled date of application: The standards will be applied from the beginning of the fiscal year ending June 2022.」
The plan to apply the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year ending June 2022 remains unchanged. - FY2020RestatedAnnual report
「(2) Scheduled date of application: The standards will be applied from the beginning of the fiscal year ending June 2022.」
The plan to apply the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year ending June 2022 remains unchanged. - FY2019First statedAnnual report
「The Accounting Standard for Revenue Recognition and other standards will be applied from the beginning of the fiscal year ending June 2022.」
The company plans to apply the Accounting Standard and Implementation Guidance for Revenue Recognition from the beginning of the fiscal year ending June 2022, and stated that the impact on the consolidated financial statements is under evaluation.