Allocation of Franchise Fee Revenue Over Time Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2021. 5 of 7 entries say "Restated". Latest entry: FY2025.
7 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Franchise fees and renewal fees are recorded as contract liabilities and recognized as revenue over a specified period as the performance obligation, namely the contract period, is satisfied.」
The company continues to recognize franchise fees and renewal fees as revenue over the contract period. - FY2024RestatedAnnual report
「Franchise fees and renewal fees are recorded as contract liabilities and recognized as revenue over a specified period as the performance obligation, namely the contract period, is satisfied.」
The company continues to recognize franchise fees and renewal fees as revenue over the contract period. - FY2023RestatedAnnual report
「Franchise fees and renewal fees are recorded as contract liabilities and recognized as revenue over a specified period as the performance obligation, namely the contract period, is satisfied.」
The company continues to recognize franchise fees and renewal fees as revenue over the contract period. - FY2022RestatedAnnual report
「The Group applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the 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 transfers to the customer.」
The company continued to disclose the application of the revenue recognition standard and disclosed its impact on operating revenue and operating profit, among other items, for the fiscal year. - FY2022-Q3RestatedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were applied from the beginning of the first quarter accounting period. 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.」
The company continued to disclose the application of the revenue recognition standard from the beginning of the first quarter. For the cumulative third-quarter period, it stated that operating revenue increased by ¥1.003 billion and operating profit by ¥642 million, while net income for the quarter decreased by ¥18 million. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition, Accounting Standards Board of Japan Statement No. 29, dated 31 March 2020, hereinafter the “Revenue Recognition Standard,” and other relevant standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, the company made the following principal changes.」
The company applied the revenue recognition standard, which had been scheduled for adoption from the fiscal year ending March 2022, from the beginning of the first quarter of the current fiscal year. Franchise fees and other amounts are recognized as revenue over a specified period, and opening retained earnings decreased by ¥410 million. - FY2021First statedAnnual report
「The company will apply the standard from the beginning of the fiscal year ending March 2022. … Franchise fees and other amounts collected from franchisees, which were previously recognized as revenue in the fiscal year in which the contract was initiated, will instead be treated as a performance obligation satisfied over a specified period. As a result, the opening balance of retained earnings for the fiscal year ending March 2022 will decrease by ¥410 million.」
The company applied the revenue recognition standard from the fiscal year ending March 2022 and adopted a policy of recognizing franchise fees and other amounts as revenue over a specified period. The impact on opening retained earnings was expected to be ¥410 million.