Changes in the recognition of license income and other revenue following the adoption of IFRS 15
First written in FY2019-Q1. 2 of 3 entries say "Restated". Latest entry: FY2019-Q3.
1 other company's latest entry also says "Restated".
- FY2019-Q3RestatedAnnual report
「In the condensed interim consolidated income statement for the nine months ended the third quarter, compared with applying the previous accounting standard, revenue, cost of sales, operating profit and interim profit before tax increased by ¥8,297 million, ¥8,269 million, ¥28 million and ¥28 million, respectively.」
The application of IFRS 15 continued, with the amounts affecting revenue, expenses and operating profit for the nine months ended the third quarter disclosed against the previous standard. - FY2019-Q2RestatedAnnual report
「In the condensed interim consolidated income statement for the six months ended the second quarter, compared with applying the previous accounting standard, revenue and cost of sales increased by ¥5,145 million and ¥5,183 million, respectively, while operating profit and interim profit before tax decreased by ¥38 million each.」
The application of IFRS 15 continued, with the amounts affecting revenue, cost of sales and operating profit for the six months ended the second quarter disclosed specifically against the previous standard. - FY2019-Q1First statedAnnual report
「Beginning with the first quarter of the current fiscal year, the Group has applied IFRS 15, Revenue from Contracts with Customers, and Clarifications to IFRS 15. Based on the five-step approach described above, the timing of revenue recognition for license income, including upfront payments received under license agreements, was reviewed in light of the satisfaction of performance obligations. As a result, upfront payments under license agreements that had previously been deferred and recognized as revenue over a specified period are now recognized as revenue at the point when development rights, marketing rights and other rights are granted.」
IFRS 15 was adopted from the current quarter, changing the recognition of upfront payments, milestones and other amounts under license agreements to reflect when performance obligations are satisfied. At adoption, retained earnings increased by ¥4,127 million, and current-quarter revenue was reported as ¥2,519 million higher than under the previous accounting standard.