Application of the Revenue Recognition Standard and Changes in Recognition Methods
First written in FY2022-Q3. 4 of 5 entries say "Restated". Latest entry: FY2023.
7 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For franchise fees and renewal fees under franchise agreements, the company has a performance obligation to provide franchise services to customers. Because this performance obligation is satisfied over the contract period, revenue is recognized over the contract period based on a reasonable basis.」
Following the application of the revenue recognition standard, the company continues to recognize franchise fees and renewal fees over the contract period. - FY2023-Q3RestatedAnnual report
「For franchise fees and renewal fees under franchise agreements, the company has a performance obligation to provide franchise services to customers. Because this performance obligation is satisfied over the contract period, revenue is recognized over the contract period based on a reasonable basis.」
Following the application of the revenue recognition standard, the company continues to recognize franchise fees and renewal fees over the contract period. - FY2023-Q1RestatedAnnual report
「For franchise fees and renewal fees under franchise agreements, the company has a performance obligation to provide franchise services to customers. Because this performance obligation is satisfied over the contract period, revenue is recognized over the contract period based on a reasonable basis.」
Following the application of the revenue recognition standard, the company continues to recognize franchise fees and renewal fees over the contract period. - FY2022RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other applicable standards have been applied from the beginning of the 21st fiscal year. Accordingly, the key management indicators and other figures for the fiscal year under review are based on the application of these accounting standards.」
The company discloses the indicators after applying the revenue recognition standard from the beginning of the 21st fiscal year as the key indicators for the fiscal year under review. - FY2022-Q3First statedAnnual report
「Franchise fees and renewal fees under franchise agreements were previously recognized as revenue when received, but the method has been changed to recognize revenue over the contract period based on a reasonable basis.」
The revenue recognition standard was applied from the beginning of the first quarter accounting period, and the method was changed to recognize franchise fees and renewal fees over the contract period. In addition, transactions in which the company acts as an agent are now recognized on a net basis after deducting expenses, rather than at the gross consideration amount. As a result of this application, revenue for the cumulative first-quarter period decreased by ¥12,947 thousand, while operating income, ordinary income and profit before income taxes for the quarter each decreased by ¥995 thousand.