Change in the Presentation of North American Net Sales Following the Adoption of ASC 606
First written in FY2020-Q1. . Latest entry: FY2020-Q3.
2 other companies' latest entry also says "Other".
- FY2020-Q3Cumulative effect of application through the third quarterAnnual report
「As a result, revenue for the nine months ended 31 December decreased by ¥7,369 million compared with the previous method. There was no impact on retained earnings at the beginning of the period, operating income, ordinary income or profit before income taxes for the nine months ended 31 December.」
The presentation reduction in revenue resulting from the adoption of ASC 606 is reported as ¥7.369 billion for the nine-month period. The Company states that there was no impact on profit. - FY2020-Q2Cumulative effect of applicationAnnual report
「With the adoption of ASC 606, revenue is required to be recognized when the promised goods or services are transferred to the customer, at an amount reflecting the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company has applied the transition method under which the cumulative effect of retrospective adjustments is recognized at the date of initial application. As a result, revenue for the six months ended 30 September decreased by ¥4,929 million compared with the previous method. There was no impact on retained earnings at the beginning of the period, operating income, ordinary income or profit before income taxes for the six months ended 30 September.」
The presentation reduction in North American revenue resulting from the adoption of ASC 606 is reported as ¥4.929 billion for the six-month period. The Company states that there was no impact on profit. - FY2020-Q1First statedAnnual report
「At an overseas consolidated subsidiary applying U.S. GAAP, ASC 606, “Revenue from Contracts with Customers,” has been applied from the first quarter of the fiscal year. As a result, revenue for the first quarter decreased by ¥2,149 million compared with the previous method. There was no impact on retained earnings at the beginning of the period, operating profit, ordinary profit or quarterly profit before income taxes for the nine months ended the first quarter.」
Application of ASC 606 began in FY2020-Q1, reducing the presentation of North American revenue by ¥2,149 million compared with the previous method. There was no impact on operating profit, ordinary profit or quarterly profit before income taxes.