Provision for return adjustments related to tire chain returns
First written in FY2018-Q3. 1 of 7 entries say "Dropped", first in FY2019. Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「Following the adoption of the revenue recognition standard, products or merchandise expected to be returned are accounted for under the provisions on variable consideration by recognizing no revenue at the time of sale. The right to recover returned products is presented under "Other" in current assets, and the refund liability is presented under "Other" in current liabilities.」
For returns of tire chains and other products, the company continues to present a right to recover returned products and a refund liability under the revenue recognition standard, rather than using the conventional provision-for-returns method. - FY2022-Q1ReframedAnnual report
「Following the adoption of the revenue recognition standard, products or merchandise expected to be returned are accounted for under the provisions on variable consideration by recognizing no revenue at the time of sale. The right to recover returned products is presented under "Other" in current assets, and the refund liability is presented under "Other" in current liabilities.」
The company changed from the conventional provision-for-returns method for tire chains to accounting for expected returns by recognizing no revenue at the time of sale and presenting a right to recover returned products and a refund liability. - FY2021-Q3Updated the provision for returns of tire chainsAnnual report
「The amount recognized at the end of the third quarter of the fiscal year was ¥39 million. As returns of the tire chains will be completed by the end of the fiscal year, the provision is scheduled to be fully reversed at fiscal year-end.」
The provision for returns of tire chains was ¥39.729 million. Returns will be completed by fiscal year-end, and the provision is scheduled to be fully reversed. - FY2020-Q3Re-recognized the provision for returnsAnnual report
「Certain domestic consolidated subsidiaries recognize a provision for returns based on the estimated future returns of seasonal tire chains, calculated using historical return rates applied to sales for the nine-month period of the fiscal year. The amount recognized at the end of the third quarter of the fiscal year was ¥50.597 million. As returns of the tire chains will be completed by the end of the fiscal year, the provision is scheduled to be fully reversed at fiscal year-end.」
The provision for returns, which had been scheduled to be fully reversed at the previous fiscal year-end, was recognized at ¥50.597 million at the end of the third quarter. Returns will be completed by fiscal year-end, and the provision is scheduled to be fully reversed. - FY2019DroppedAnnual report
「As returns of the tire chains will be completed by the end of the fiscal year, the provision is scheduled to be fully reversed at fiscal year-end.」
The provision for returns of tire chains disclosed through the previous quarter was not recognized or disclosed in the FY2019 Annual Securities Report. In line with the previous disclosure that the provision would be fully reversed at fiscal year-end, disclosure of this temporary item has ended. - FY2019-Q3Updated the provision for returns of tire chainsAnnual report
「The amount recognized at the end of the third quarter of the fiscal year was ¥40.783 million. As returns of the tire chains will be completed by the end of the fiscal year, the provision is scheduled to be fully reversed at fiscal year-end.」
The provision for returns of tire chains was ¥40.783 million. Returns will be completed by fiscal year-end, and the provision is scheduled to be fully reversed. - FY2018-Q3First statedAnnual report
「Certain domestic consolidated subsidiaries recognize a provision for returns based on the estimated future returns of seasonal tire chains, calculated using historical return rates applied to sales for the nine-month period of the fiscal year. The amount recognized at the end of the third quarter of the fiscal year was ¥62.547 million. As returns of the tire chains will be completed by the end of the fiscal year, the provision is scheduled to be fully reversed at fiscal year-end.」
A provision for returns of ¥62.547 million has been recognized for the estimated future returns of seasonal tire chains. Returns will be completed by fiscal year-end, and the provision is scheduled to be fully reversed.