Adoption of Accounting Standards for Revenue Recognition, etc.
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2026: 1 of 8 companies on the "Worse" side.
65 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result of this application, net sales for the nine months ended the third quarter of the current consolidated fiscal year decreased by ¥107 million and cost of sales decreased by ¥103 million, while the impact on operating income, ordinary income and profit before income taxes for the quarter was immaterial. In addition, retained earnings at the beginning of the fiscal year decreased by ¥17 million because the cumulative impact was reflected in net assets at the beginning of the first quarter of the current consolidated fiscal year.」
The Company continued to apply the revenue recognition accounting standard and other relevant standards, disclosing decreases of ¥107 million in net sales, ¥103 million in cost of sales and ¥17 million in retained earnings at the beginning of the fiscal year as the impact on the nine-month period. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the six months ended the second quarter of the current consolidated fiscal year decreased by ¥66 million and cost of sales decreased by ¥67 million, while the impact on operating income, ordinary income and profit before income taxes for the quarter was immaterial. In addition, retained earnings at the beginning of the fiscal year decreased by ¥17 million because the cumulative impact was reflected in net assets at the beginning of the first quarter of the current consolidated fiscal year.」
The Company continued to apply the revenue recognition accounting standard and disclosed decreases of ¥66 million in net sales, ¥67 million in cost of sales and ¥17 million in retained earnings at the beginning of the fiscal year for the six-month period ended the second quarter. - FY2022-Q1First statedAnnual report
「Effective from the beginning of the first quarter of the current consolidated fiscal year, the Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards, and recognizes revenue 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. As a result of this application, the timing of revenue recognition for certain sales discounts has changed from when the amount of the sales discount was finalized to when it arose. In addition, whereas revenue was previously recognized at the gross amount of consideration received from customers, for certain sales transactions in which the Company's role in providing goods or services to customers qualifies as that of an agent, revenue is recognized on a net basis, after deducting the amount paid to suppliers from the amount received from customers.」
The revenue recognition accounting standard and other relevant standards were applied from the beginning of the first quarter of fiscal 2021, changing the timing of revenue recognition and the presentation of transactions qualifying as agency transactions. As a result, net sales decreased by ¥42 million, cost of sales decreased by ¥44 million, and retained earnings at the beginning of the fiscal year decreased by ¥17 million, while the impact on operating income and other figures was described as immaterial.