Changes in Revenue Recognition Methods בעקבות Application of the Revenue Recognition Accounting Standard
First written in FY2023-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「As a result, revenue for the fiscal year decreased by ¥686.259 million, cost of sales decreased by ¥519.942 million, and selling, general and administrative expenses decreased by ¥166.141 million. The impact on operating income, ordinary income, profit before income taxes, the opening balance of retained earnings and per-share information was immaterial.」
The company is reconfirming based on its full-year results that applying the Revenue Recognition Standard reduced the amounts presented for revenue and expenses, while having only a minor impact on operating income and other items. - FY2023-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter decreased by ¥463.178 million, cost of sales decreased by ¥334.831 million, and selling, general and administrative expenses decreased by ¥128.712 million. Operating income, ordinary income and profit before income taxes increased by ¥365 thousand, respectively.」
The company is reconfirming the impact of the Revenue Recognition Standard, applied from the first quarter, on the presentation of revenue and expenses and on profit for the nine months ended in the third quarter. - FY2023-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter decreased by ¥490.730 million, cost of sales decreased by ¥408.119 million, and selling, general and administrative expenses decreased by ¥83.315 million. Operating income, ordinary income and profit before income taxes increased by ¥705 thousand, respectively.」
The company is reconfirming the impact of the Revenue Recognition Standard, applied from the first quarter, on the amounts presented for the six months ended in the second quarter. - FY2023-Q1First statedAnnual report
「The company applied the Revenue Recognition Standard and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, revenue for the cumulative first quarter decreased by ¥212.978 million, cost of sales decreased by ¥176.691 million, and selling, general and administrative expenses decreased by ¥37.009 million. Operating income, ordinary income and profit before income taxes increased by ¥721 thousand, respectively.」
The company changed the revenue recognition methods for its own and third-party loyalty points and shipping charges for online sales and travel products, and applied the new standard from the current quarter. While the amounts presented for revenue and other items were affected, operating income and ordinary income each increased by ¥721 thousand.