Adoption of the revenue recognition standard and recognition of sales after the return-guarantee period
First written in FY2022-Q1. 4 of 5 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
53 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For TV shopping sales, a return-guarantee obligation arises for 30 days after delivery, so the amount corresponding to returns is recognized as revenue after the guarantee period has expired,」
The application of the Revenue Recognition Standard and the policy of recognizing the amount corresponding to returns for TV shopping after the return-guarantee period has expired have been reconfirmed. - FY2022RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards have been adopted from the beginning of the current 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 is transferred to the customer.」
The policy of applying the Revenue Recognition Standard from the beginning of the fiscal year and recognizing the amount corresponding to returns for TV shopping after the 30-day return-guarantee period following delivery has expired has been reconfirmed. - FY2022-Q3RestatedAnnual report
「The company applied the Accounting Standard for Revenue Recognition and other related standards from the beginning of the first quarter. Revenue is recognised 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 application of the Revenue Recognition Standard from the beginning of the first quarter and recognition of the amount corresponding to returns after the return-guarantee period has expired have been reconfirmed. The impact is considered immaterial. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards have been applied from the beginning of the first quarter. 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.」
The application of the Revenue Recognition Standard from the beginning of the first quarter and recognition of the amount corresponding to returns after the TV shopping return-guarantee period has expired have been reconfirmed. The impact is considered immaterial. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards have been applied from the beginning of the first quarter. 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. Accordingly, although TV shopping sales had previously been recognized at a point in time, because a return-guarantee obligation arises for 30 days after delivery, the amount corresponding to returns is now recognized as revenue after the guarantee period has expired. The right to recover products is presented within “Other” under current assets, and the refund liability within “Other” under current liabilities.」
The new standard was applied from the beginning of the first quarter, and TV shopping sales recognition was changed to reflect the 30-day return guarantee after delivery. The impact on profit or loss and retained earnings at the beginning of the period is considered immaterial.