Adoption of the Revenue Recognition Accounting Standard and Recognition of a Refund Liability
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2025: 2 of 9 companies on the "Worse" side.
48 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The breakdown of the Group's contract assets and contract liabilities is as follows: refund liability (opening balance) 276; refund liability (closing balance) 97.」
The company continues to apply the revenue recognition accounting standard and account for refund liabilities related to early-termination refund clauses in personnel placement revenue. - FY2022RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition and related standards from the beginning of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised services when control of those services transfers to the customer.」
The Company applied the Revenue Recognition Standard for the full fiscal year and recorded a ¥276 thousand refund liability for the early-departure refund clause in recruitment placement. The impact was described as immaterial. - FY2022-Q3RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised services when control of those services transfers to the customer. Accordingly, for the early-departure refund clause related to recruitment placement revenue in the human resources business, the Company had previously recognized an expense when a material refund was expected for consideration received for services expected to be refunded. It has changed to a method under which revenue is not recognized at the time of sale and a refund liability is recorded, in accordance with the provisions on variable consideration.」
The Company continues to apply the Revenue Recognition Standard and treat early-departure refund clauses in recruitment placement revenue by recognizing refund liabilities. The impact was described as immaterial. - FY2022-Q1First statedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; the “Revenue Recognition Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised services when control of those services transfers to the customer. Accordingly, for the early-departure refund clause related to recruitment placement revenue in the human resources business, the Company had previously recognized an expense when a material refund was expected. It has changed to a method under which revenue is not recognized at the time of sale and a refund liability is recorded, in accordance with the provisions on variable consideration.」
The Company adopted the Revenue Recognition Standard from the first quarter and changed its treatment of the early-departure refund clause in recruitment placement revenue to recognition of a refund liability. The impact was described as immaterial.