Future Application of the Accounting Standard for Revenue Recognition
First written in FY2018. 2 of 7 entries say "Restated". Latest entry: FY2022.
- FY2022The full-year impact of the revenue recognition standard was disclosedAnnual report
「As a result, ¥69.800 million recorded as an asset for returns was included in other current assets and ¥137.018 million recorded as a refund liability was included in other current liabilities on the consolidated balance sheet for the current consolidated fiscal year. Revenue in the consolidated statement of income and comprehensive income decreased by ¥621.279 million, but there was no impact on operating income, ordinary income or income before taxes and consolidated net loss.」
The company explained that application of the accounting standard for revenue recognition reduced full-year revenue by ¥621.279 million, but had no impact on operating income, ordinary income or income before taxes. - FY2022-Q3Expanded disclosure of the impact of applying the accounting standard for revenue recognitionAnnual report
「As a result, revenue for the nine months ended the current third quarter decreased by ¥387.486 million, but there was no impact on operating income, ordinary income or quarterly net income before income taxes.」
The company disclosed a ¥387.486 million decrease in revenue due to application of the accounting standard for revenue recognition and explained that there was no impact on profit. It also disclosed decreases of ¥314.985 million for kimono, ¥28.475 million for home furnishings and ¥44.026 million for health and lifestyle. - FY2022-Q2Disclosure of the impact of applying the accounting standard for revenue recognitionAnnual report
「As a result, revenue for the six months ended the current second quarter decreased by ¥306.031 million, but there was no impact on operating income, ordinary income or quarterly net income before income taxes.」
The company explained that following application of the accounting standard for revenue recognition, revenue decreased by ¥306.031 million, but there was no impact on operating income, ordinary income or quarterly net income before income taxes. It also disclosed the decrease in revenue by segment for the kimono, home furnishings, health and lifestyle businesses. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. 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.」
The company applied the accounting standard for revenue recognition from the beginning of the current quarter, rather than from the beginning of the fiscal year ending March 2022 as previously planned. Revenue decreased by ¥156.737 million, but there was no impact on operating loss, ordinary loss or other such items. - FY2020RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 31 March 2020) are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company has reconfirmed its plan to apply the accounting standard for revenue recognition and related guidance from the beginning of the fiscal year ending March 2022, with the impact still under assessment. - FY2019RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018) were scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company plans to apply the accounting standards and related guidance for revenue recognition from the beginning of the fiscal year ending March 2022, and continues to evaluate the impact. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company planned to apply the new accounting standards on revenue recognition from the beginning of the fiscal year ending March 2030 and stated that it was assessing the impact.