Preparation for Adoption of the Revenue Recognition and Fair Value Measurement Accounting Standards
First written in FY2021. 3 of 5 entries say "Restated". Latest entry: FY2022.
126 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「For M&A intermediary and advisory services, the performance obligation is to provide services until the customer’s share transfer or business transfer is executed, and revenue is recognized primarily when the share transfer or business transfer is completed.」
Based on the Revenue Recognition Standard applied from the first quarter of the fiscal year ending September 2022, the company has continued to recognize M&A intermediary and advisory revenue primarily when a share transfer or business transfer is completed. - FY2022-Q3RestatedAnnual report
「Accordingly, regarding the timing of revenue recognition for M&A intermediary and advisory services, consolidated subsidiaries previously recognized part of their fees as revenue during the course of a transaction, but have changed to a method that recognizes revenue primarily when the share transfer or business transfer is completed.」
Based on the Revenue Recognition Standard applied from the first quarter of the fiscal year ending September 2022, the company has continued to recognize M&A intermediary and advisory revenue primarily when a share transfer or business transfer is completed. It disclosed a decrease of ¥1.986 million in revenue and ¥1.418 million in operating profit and other items as the impact for the cumulative third-quarter period. - FY2022-Q2RestatedAnnual report
「Accordingly, regarding the timing of revenue recognition for M&A intermediary and advisory services, consolidated subsidiaries previously recognized part of their fees as revenue during the course of a transaction, but have changed to a method that recognizes revenue primarily when the share transfer or business transfer is completed.」
For the Revenue Recognition Standard applied from the first quarter of the fiscal year ending September 2022, the company has continued to recognize M&A intermediary and advisory revenue primarily when a share transfer or business transfer is completed. For the cumulative second quarter, it disclosed a decrease of ¥14.346 million in revenue and ¥12.232 million in operating profit and other items as the impact. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognized at the point 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, regarding the timing of revenue recognition for M&A intermediary and advisory services, consolidated subsidiaries previously recognized part of their fees as revenue during the course of a transaction, but have changed to a method that recognizes revenue primarily when the share transfer or business transfer is completed.」
The Revenue Recognition Standard, for which preparations had been disclosed in the previous fiscal year, was applied from the beginning of the first quarter of the fiscal year ending September 2022. The timing of revenue recognition for the consolidated subsidiaries’ M&A intermediary and advisory revenue was changed primarily to the time a transaction is completed. As a result, revenue decreased by ¥4.950 million, operating profit and other items decreased by ¥4.677 million, and retained earnings at the beginning of the fiscal year decreased by ¥26.529 million. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and other related standards will be applied from the beginning of the fiscal year ending September 2022. The Accounting Standard for Fair Value Measurement and other related standards will also be applied from the beginning of the fiscal year ending September 2022. The Implementation Guidance on Accounting Standard for Fair Value Measurement, revised in 2021, will be applied from the beginning of the fiscal year ending September 2023.」
The company plans to apply the revenue recognition and fair value measurement standards and related standards from the fiscal year ending September 2022, and the 2021 revised implementation guidance on fair value measurement from the fiscal year ending September 2023. The amount of the impact of adoption is still being assessed.