Application of the Accounting Standard for Revenue Recognition and Changes to Contract Revenue Recognition
First written in FY2022-Q1. 1 of 5 entries say "Restated". Latest entry: FY2023.
9 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For sales of products and merchandise that the Company and its consolidated subsidiaries have determined they act as agents, revenue is recognized on a net basis, calculated by deducting the amount paid to the other party from the amount received in exchange for goods provided by that other party.」
The revenue recognition policies for product sales, licenses, commissioned software development and similar items after application of the Revenue Recognition Standard continue to apply. - FY2022Disclosure of full-year impactAnnual report
「As a result, compared with before application of the Revenue Recognition Standard and other standards, the consolidated income statement for the current consolidated fiscal year shows a ¥7 million decrease in net sales, a ¥4 million decrease in cost of sales, and ¥2 million decreases in operating income, ordinary income and profit before income taxes.」
The Company disclosed that full-year application of the Revenue Recognition Standard reduced net sales by ¥7 million and operating income and related items by ¥2 million. - FY2022-Q3Updated the impact of application for the cumulative third quarterAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales decreased by ¥4 million, cost of sales decreased by ¥2 million, and operating income, ordinary income and profit before income taxes decreased by ¥2 million each. In addition, the opening balance of retained earnings increased by ¥3 million.」
The Company disclosed that application of the Revenue Recognition Standard reduced net sales by ¥4 million and operating income and related items by ¥2 million for the cumulative third quarter, while increasing the opening balance of retained earnings by ¥3 million. - FY2022-Q2Further detail on the impact of adoptionAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥5 million, cost of sales decreased by ¥4 million, and operating income, ordinary income and profit before income taxes decreased by ¥1 million each.」
The Company disclosed that application of the Revenue Recognition Standard reduced net sales by ¥5 million and operating income and related items by ¥1 million for the cumulative second quarter. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year. Accordingly, revenue is recognized 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. For fees for granting rights to use intellectual property under term-based license agreements, revenue was previously recognized over the contract period. The Company has changed this method so that, based on the nature of the services provided, revenue for certain portions is recognized in full when the customer becomes able to use the intellectual property. For commissioned software development and similar services, revenue was previously recognized when the software was delivered to and accepted by the customer. The Company has changed this method so that revenue is recognized over a specified period as the performance obligations are satisfied.」
The Company applied the Revenue Recognition Standard and other standards from the beginning of the first quarter of the current consolidated fiscal year and changed the timing and methods of revenue recognition for licenses, commissioned software development and similar items.