Adoption of the revenue recognition standard
First written in FY2022-Q3. 2 of 3 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「The group's AI Solutions Business primarily generates flow-based, non-recurring revenue from quasi-mandate services, including joint research and development, support for identifying issues and formulating company-wide strategies during the initial implementation phase, PoC execution, and the development and system implementation of AI algorithms, as well as recurring, stock-based revenue from service usage fees, consortium membership fees and other sources. Revenue is recognized according to the performance obligations under each contract.」
The company continues to recognize flow-based and stock-based revenue according to the performance obligations under each contract, based on the revenue recognition accounting standard. - FY2022RestatedAnnual report
「The Company primarily generates flow-based (non-recurring) revenue through quasi-mandate service engagements, including joint research and development, support in identifying issues during the initial implementation phase and formulating company-wide strategies, proof-of-concept projects, AI algorithm development and system implementation, as well as stock-based (recurring) revenue from service usage fees and consortium membership fees. Revenue is recognized according to the performance obligations under each contract, in accordance with the accounting standard for revenue recognition.」
The Company explains its revenue recognition methods according to the performance obligations under each flow-based and stock-based contract, based on the Revenue Recognition Accounting Standard. - FY2022-Q3First statedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were applied from the beginning of the first quarter accounting period. 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 is transferred to the customer.」
The Revenue Recognition Accounting Standard and other standards have been applied from the beginning of the first quarter accounting period, changing the timing and measurement method for revenue recognition.