Adoption of the Accounting Standard for Revenue Recognition and Changes to the Accounting Treatment for Loyalty Points
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year. Key management indicators for the fiscal year reflect application of those standards.」
The company continues to apply the revenue recognition standard and the revised accounting treatment for points from the beginning of the current fiscal year. - FY2022-Q3RestatedAnnual report
「As a result, sales, operating profit, ordinary profit and profit before income taxes for the cumulative third quarter decreased by ¥38,981 thousand each. Retained earnings at the beginning of the period decreased by ¥74,275 thousand.」
The company continues to apply the revenue recognition standard and disclosed the impact of identifying points as performance obligations and related measures as ¥38,981 thousand on each profit metric for the cumulative third quarter and ¥74,275 thousand on retained earnings at the beginning of the period. - FY2022-Q1First statedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other related standards from the beginning of the first quarter of the current fiscal year, and recognize 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. Accordingly, whereas points granted in connection with sales were previously recognized as revenue at the time of sale and deducted from sales when customers used the points, we now identify the points granted as a performance obligation and allocate the transaction price based on the standalone selling price calculated after taking into account expected future expiries and other factors.」
We adopted the revenue recognition standard from the beginning of the first quarter and changed the treatment of points, which had previously been recognized in full at the time of sale, to identify them as a performance obligation and allocate the transaction price. As a result of the adoption, sales, operating profit, ordinary profit and profit before income taxes for the cumulative first quarter each decreased by ¥15,982 thousand, while retained earnings at the beginning of the period decreased by ¥74,275 thousand.