Adoption of the Revenue Recognition Accounting Standard and Changes in the Presentation of Points, Returns, and Sell-Through Procurement Transactions
First written in FY2023-Q1. 4 of 5 entries say "Restated". Latest entry: FY2024.
16 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「For point programmes operated by certain consolidated subsidiaries, points granted to customers are identified as performance obligations, the transaction price is allocated, and a contract liability is recognised. Revenue is recognised when customers use their points.」
The company continued its treatment of point programmes and other items following adoption of the revenue recognition standard. - FY2023RestatedAnnual report
「As a result, for the current consolidated fiscal year, revenue increased by ¥8,109 million, cost of sales increased by ¥609 million, and selling, general and administrative expenses increased by ¥7,657 million. Operating profit, ordinary profit, and profit before income taxes for the year each decreased by ¥157 million.」
The company continued applying the revenue recognition standard and related requirements and disclosed their impact on presentation and profit for the fiscal year. Changes in the treatment of points, sell-through sales, and sales with a right of return reduced operating profit and other measures by ¥157 million. - FY2023-Q3RestatedAnnual report
「As a result, for the nine months ended the third quarter of the current consolidated fiscal year, revenue increased by ¥6,011 million, cost of sales increased by ¥377 million, and selling, general and administrative expenses increased by ¥5,868 million. Operating profit, ordinary profit, and profit before income taxes for the quarter each decreased by ¥234 million.」
The company continued applying the revenue recognition standard and disclosed its impact for the nine months ended the third quarter, with revenue increasing by ¥6,011 million and operating profit and other measures decreasing by ¥234 million. - FY2023-Q2RestatedAnnual report
「As a result, for the six months ended the second quarter of the current consolidated fiscal year, revenue increased by ¥3,854 million, cost of sales increased by ¥272 million, and selling, general and administrative expenses increased by ¥3,727 million. Operating profit, ordinary profit, and profit before income taxes for the quarter each decreased by ¥145 million. The opening balance of retained earnings also decreased by ¥288 million.」
The company continued applying the revenue recognition standard and disclosed its impact for the six months ended the second quarter, with revenue increasing by ¥3,854 million and operating profit and other measures decreasing by ¥145 million. - FY2023-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the current fiscal year. 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 changed to deducting proprietary points from revenue by treating them as performance obligations, recognising sales of goods on a sell-through basis at department stores and other outlets on a gross basis, and recognising a right-of-return asset and refund liability for sales with a right of return. As a result of the adoption, revenue for the quarter increased by ¥1,917 million, selling, general and administrative expenses increased by ¥2,066 million, and operating profit and other measures decreased by ¥37 million.