Change in Revenue Recognition Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
6 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, for the consolidated fiscal year, revenue decreased by ¥68.255 million, cost of sales decreased by ¥66.739 million, and operating loss, ordinary loss and net loss before income taxes increased by ¥1.516 million each. In addition, the opening balance of retained earnings increased by ¥1.621 million.」
The Company finalized and disclosed the specific annual impact of applying the revenue recognition standards on revenue, cost of sales, operating loss and other items, and retained earnings. - FY2022-Q3AdvancedAnnual report
「As a result, for the cumulative third quarter, revenue decreased by ¥14.771 million, cost of sales decreased by ¥43.249 million, and operating loss, ordinary loss and quarterly net loss before income taxes decreased by ¥28.478 million each. In addition, the opening balance of retained earnings increased by ¥1.621 million.」
The Company added disclosure of the impact of applying the revenue recognition standards on the cumulative third quarter. - FY2022-Q2AdvancedAnnual report
「In addition, for certain licensing agreements, revenue from licensing had previously been recognized over the license period. Where the license provides a right to use intellectual property, the Company changed to recognizing revenue at a point in time when the license is granted.” “As a result, for the cumulative second quarter, revenue decreased by ¥27.913 million, cost of sales decreased by ¥38.005 million, and operating loss, ordinary loss and quarterly net loss before income taxes decreased by ¥10.091 million each.」
The Company disclosed an additional change under the revenue recognition standards, namely point-in-time recognition for certain licenses, together with the specific impact on the cumulative second quarter. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the consolidated 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 principal changes were that, among transactions for which revenue had previously been recognized when delivery of video works or other items to customers or the provision of advertising management services was completed, revenue is now recognized over a period of time according to the progress of performance obligations when the customer receives benefits as those obligations are fulfilled. In addition, for certain transactions, the Company had previously recognized the total consideration received from customers as revenue. Where the Group acts as an agent in providing goods or services to customers, revenue is now recognized on a net basis after deducting the amount paid to suppliers from the amount received from customers.」
The Company applied the revenue recognition standards and other standards from the beginning of the first quarter of the consolidated fiscal year, changing the treatment to include recognition of revenue over a period of time and net presentation for agency transactions. As a result, revenue for the quarter decreased by ¥17.836 million, while operating loss and other losses decreased by ¥12.034 million.