Application of the revenue recognition accounting standard from the fiscal year ending March 2022
First written in FY2018. 4 of 6 entries say "Restated". Latest entry: FY2022.
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- FY2022RestatedAnnual report
「The revenue recognition accounting standard and related guidance were applied from the beginning of the current consolidated fiscal year, and revenue is recognized at the point when control of the promised goods or services transfers to the customer, at the amount expected to be received in exchange for those goods or services.」
The company continues to apply the Revenue Recognition Standard for the full fiscal year, including the net presentation of agent transactions, identification of performance obligations related to benefits, and recognition of credit-card finance intermediation fees as revenue. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the first 9 months of the current consolidated fiscal year decreased by ¥76.953 million, cost of sales decreased by ¥40.986 million, selling, general and administrative expenses decreased by ¥89.057 million, operating income increased by ¥53.090 million, and ordinary income and pretax quarterly net income each decreased by ¥25.311 million. The opening balance of retained earnings also decreased by ¥295.359 million.」
The company continues to apply the Revenue Recognition Standard adopted from the first quarter and discloses its impact for the first 9 months, including the net presentation of agent transactions and deferral of revenue from the dressing and hair-and-makeup benefit on the day of the coming-of-age ceremony. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the first 6 months of the current consolidated fiscal year decreased by ¥44.103 million, cost of sales decreased by ¥25.078 million, selling, general and administrative expenses decreased by ¥65.225 million, operating income increased by ¥46.200 million, and ordinary income and pretax quarterly net income each increased by ¥7.049 million. The opening balance of retained earnings also decreased by ¥295.359 million.」
The company continues to apply the Revenue Recognition Standard adopted from the first quarter and discloses its impacts on revenue, operating income, retained earnings and other items for the 6 months ended in the second quarter. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied 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 promised goods or services when control of those goods or services is transferred to the customer. As a result, revenue from transactions conducted as an agent, which was previously recognized on a gross basis, is now recognized on a net basis following an assessment of the Company's role in providing goods or services to customers, whether as principal or agent. In addition, the company previously recognized a provision for sales promotion expenses for the “dressing and hair-and-makeup benefit on the day of the coming-of-age ceremony” in preparation for future use of the benefit. This has been changed to identifying the benefit as a separate performance obligation and deferring revenue recognition until the benefit is used. As a result, revenue for the first quarter of the current consolidated fiscal year decreased by ¥17.372 million, cost of sales decreased by ¥9.758 million, selling, general and administrative expenses decreased by ¥19.792 million, operating income increased by ¥12.178 million, and ordinary income and pretax quarterly net income each decreased by ¥5.320 million. The opening balance of retained earnings also decreased by ¥295.359 million.」
The company applied the Revenue Recognition Standard, scheduled for application from the fiscal year ending March 2022, from the beginning of the first quarter. It recognized revenue from agent transactions on a net basis, identified the dressing and hair-and-makeup benefit on the day of the coming-of-age ceremony as a performance obligation, and deferred revenue recognition for the benefit. The amounts of the impacts on revenue and retained earnings are also disclosed. - FY2020RestatedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022. The impact is under assessment as of the preparation of these consolidated financial statements.」
The Accounting Standard for Revenue Recognition is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact continues to be assessed. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018) is scheduled to be applied from the beginning of the fiscal year ending March 2022. Revenue will be recognized by applying the following 5 steps.」
The company plans to apply the new revenue recognition accounting standard from the beginning of the fiscal year ending March 2022 and presents a 5-step recognition process, including identifying contracts, identifying performance obligations and determining the transaction price. The amount of the impact is under assessment.