Change to time-apportioned recognition of certain Green sales
First written in FY2022-Q1. . Latest entry: FY2022.
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- FY2022Full-year update on the impact of adoptionAnnual report
「As a result, revenue for the consolidated fiscal year decreased by ¥366,000, while operating income, ordinary income and income before income taxes for the fiscal year decreased by ¥366,000. In addition, the opening balance of retained earnings for the consolidated fiscal year decreased by ¥224.743 million.」
The company updated the full-year impact of applying the revenue recognition accounting standard, reporting decreases of ¥366,000 in revenue and income and ¥224.743 million in opening retained earnings. - FY2022-Q3Updated Impact of AdoptionAnnual report
「As a result, revenue for the cumulative third quarter of the current consolidated fiscal year decreased by ¥21.766 million, while operating income, ordinary income and income before income taxes for the quarter decreased by ¥21.766 million. In addition, the opening balance of retained earnings decreased by ¥224.743 million.」
The company updated the impact of applying the revenue recognition accounting standard to a portion of Green, reporting that revenue and income for the cumulative third quarter decreased by ¥21.766 million. - FY2022-Q2Further detail on the impact of adoptionAnnual report
「As a result, revenue for the cumulative second quarter of the current consolidated fiscal year decreased by ¥53.142 million, while operating income, ordinary income and income before income taxes for the quarter decreased by ¥53.142 million. In addition, the opening balance of retained earnings decreased by ¥224.743 million.」
The company quantified the impact of applying the revenue recognition accounting standard to a portion of Green, reporting that revenue, operating income and other items for the cumulative second quarter of the current consolidated fiscal year decreased by ¥53.142 million and that the opening balance of retained earnings decreased by ¥224.743 million. - FY2022-Q1First statedAnnual report
「As a result, for a portion of “Green” in the People Tech business, the company has changed from recognizing revenue at a point in time when the contract was signed to recognizing revenue over a specified period, having determined that the performance obligation is satisfied as the contract period elapses.」
In connection with the adoption of the revenue recognition accounting standard and related standards, the company changed its accounting policy for a portion of Green from point-in-time recognition upon contract execution to revenue recognition over the contract period.