Adoption of Accounting Standards for Revenue Recognition
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022.
50 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「We adopted the Accounting Standard for Revenue Recognition and related standards from the beginning of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer.」
The Company continues to apply the Revenue Recognition Standard in its annual financial statements. The impact on the financial statements was considered immaterial. - FY2022-Q3RestatedAnnual report
「In addition, consideration payable to customers was previously treated as selling, general and administrative expenses, but the Company has changed to deducting it from the transaction price.」
The Company has reiterated the application of the Revenue Recognition Standard from the first quarter, including changes in the treatment of consideration payable to customers and the presentation of contract assets. The impact on profit or loss and retained earnings was considered immaterial. - FY2022-Q1First statedAnnual report
「We applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter. Revenue is recognized when control of the promised goods or services transfers to the customer, at the amount expected to be received in exchange for those goods or services. As a result, for certain transactions, we changed from recognizing revenue on a gross basis to recognizing revenue on a net basis for transactions determined to be agency transactions after assessing our role in providing goods to customers as principal or agent.」
The Revenue Recognition Standard was applied from the beginning of the first quarter, changing certain agency transactions to net revenue recognition; the impact on profit or loss and opening retained earnings was immaterial.