Application of the revenue recognition standard and net presentation of agent transactions
First written in FY2022-Q1. 4 of 7 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 1 of 8 companies on the "Worse" side.
65 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Revenue from consignment transactions in the wholesale flower business is identified as a performance obligation when consigned products from producers are delivered to buyers and a settlement statement is issued, and revenue is recognized when the settlement statement is issued.」
The Company continues to describe its revenue recognition method for consignment transactions following the application of the revenue recognition accounting standards. - FY2024RestatedAnnual report
「The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the 34th fiscal year. Accordingly, the key management indicators and other information for the 34th fiscal year and subsequent periods reflect the application of those accounting standards and related standards.」
The Company has reconfirmed that it continues to use indicators following the application of the revenue recognition accounting standards. - FY2023RestatedAnnual report
「The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the 34th fiscal year. Accordingly, the key management indicators and other information for the 34th fiscal year and subsequent periods reflect the application of those accounting standards and related standards.」
The Company applied the revenue recognition accounting standards from the beginning of the 34th fiscal year and continues to use indicators reflecting the changes in presentation for agent transactions and other items. - FY2022AdvancedAnnual report
「As a result, net sales and cost of sales for the current consolidated fiscal year decreased by ¥23,733 million compared with the amounts before applying the revenue recognition accounting standards and related standards, while operating profit, ordinary profit and profit before income taxes were unaffected.」
The Company explained that, as a result of applying the revenue recognition accounting standards for the full fiscal year and presenting revenue from agent transactions on a net basis, net sales and cost of sales decreased by ¥23,733 million, with no impact on profit. - FY2022-Q3RestatedAnnual report
「The Company has also applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year. For transactions in the wholesale flower business, including consignment transactions, that are judged to be agent transactions, the amount of revenue recognized has been changed from the transaction total to a net amount. Assuming that these accounting standards and related standards had been applied in the third quarter of the previous fiscal year, the year-on-year increase in net sales was 17.0%.」
The Company continues to apply the revenue recognition accounting standards and present revenue from agent transactions on a net basis, and has added an explanation that net sales increased 17.0% year on year on a comparable basis. - FY2022-Q2AdvancedAnnual report
「The Company has also applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year. For transactions in the wholesale flower business, including consignment transactions, that are judged to be agent transactions, the amount of revenue recognized has been changed from the transaction total to a net amount. Assuming that these accounting standards and related standards had been applied in the second quarter of the previous fiscal year, the year-on-year increase in net sales was 17.8%.」
The Company continues to apply the revenue recognition accounting standards and present revenue from agent transactions on a net basis. It has also added an explanation that net sales increased 17.8% year on year on a comparable basis. - FY2022-Q1First statedAnnual report
「The Company applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020) 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 goods or services when control of those goods or services is transferred to the customer. Following its assessment of principal-versus-agent transactions, the Company changed the revenue recognition method for part of the transactions in its wholesale flower business that were determined to be agent transactions, recognizing revenue on a net basis.」
The Company applied the revenue recognition accounting standards and related standards from the beginning of the first quarter of the current consolidated fiscal year and changed the presentation of revenue for some agent transactions in the wholesale flower business from gross to net. Compared with the previous accounting treatment, net sales and cost of sales decreased by ¥5,152 million, with no impact on operating profit, ordinary profit or profit before income taxes for the quarter.