Changes in revenue recognition and presentation following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 2 of 4 entries say "Advanced", first in FY2022. Latest entry: FY2025.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「The Company has applied the Accounting Standard for Accounting for Income Taxes, Resident Taxes, and Enterprise Taxes (ASBJ Statement No. 27, 28 October 2022) and related standards from the beginning of the current consolidated fiscal year.」
The company stated that it applied the 2022 amended accounting standards and other standards from the beginning of FY2025, with no impact on the consolidated financial statements. - FY2022AdvancedAnnual report
「As a result, compared with the amounts before applying the Revenue Recognition Standard and other standards, net sales for the current consolidated fiscal year decreased by ¥199 million, while operating profit, ordinary profit and profit before income taxes decreased by ¥199 million each.」
The company disclosed that the full-year application of the Revenue Recognition Standard reduced net sales, operating profit, ordinary profit and other measures by ¥199 million, and reduced retained earnings at the beginning of the fiscal year by ¥1,072 million. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second quarter of the current fiscal year decreased by ¥74 million, while operating profit, ordinary profit and profit before income taxes decreased by ¥74 million each. Retained earnings at the beginning of the fiscal year also decreased by ¥1,072 million.」
The company disclosed that application of the Revenue Recognition Standard from the first quarter reduced net sales and each profit measure by ¥74 million for the cumulative second quarter, and reduced retained earnings at the beginning of the fiscal year by ¥1,072 million. There was no change to the accounting policy itself. - FY2022-Q1First statedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current 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.」
From the first quarter, the company applied the Revenue Recognition Standard and changed its treatment so that expected returns of hair-growth products, regular inspection services for women’s wigs, and points are treated as separate performance obligations, among other items. As a result of the application, net sales, operating profit and ordinary profit for the quarter decreased by ¥36 million, while retained earnings at the beginning of the fiscal year decreased by ¥1,072 million.