Planned adoption of the Accounting Standard for Revenue Recognition in the fiscal year ending March 2022
First written in FY2018. 3 of 6 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3RestatedAnnual report
「The company applies the Revenue Recognition Accounting Standard and other requirements in accordance with the transitional treatment prescribed in the proviso to paragraph 84 of the Revenue Recognition Accounting Standard. As a result, revenue decreased by ¥6,037 million, cost of sales by ¥5,819 million, and selling, general and administrative expenses by ¥217 million during the nine months ended the third quarter of the current consolidated fiscal year.」
The company continues to apply the Revenue Recognition Accounting Standard, and states that during the nine months ended the third quarter, revenue decreased by ¥6,037 million, cost of sales by ¥5,819 million, and selling, general and administrative expenses by ¥217 million as a result. - FY2022-Q2RestatedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other requirements from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised 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. Accordingly, for consignment sales transactions for which revenue was previously recognised at the gross amount of consideration as principal transactions, revenue is now recognised on a net basis as wholesale commissions based on the determination that these are agency transactions. In addition, certain consideration paid to customers that was previously recorded under selling, general and administrative expenses is now deducted from revenue.」
The company continues to apply the Revenue Recognition Accounting Standard, including the net presentation of consignment sales transactions and the deduction of consideration paid to customers from revenue. During the six months ended the second quarter of the current consolidated fiscal year, revenue decreased by ¥3,570 million, cost of sales by ¥3,436 million, and selling, general and administrative expenses by ¥133 million. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other requirements from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised 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. Accordingly, for consignment sales transactions for which revenue was previously recognised at the gross amount of consideration as principal transactions, revenue is now recognised on a net basis as wholesale commissions based on the determination that these are agency transactions. In addition, certain consideration paid to customers that was previously recorded under selling, general and administrative expenses is now deducted from revenue.」
The company began applying the Revenue Recognition Accounting Standard and other requirements from the beginning of the fiscal year ending March 2022. It specified the presentation changes resulting from the application, including the net presentation of consignment sales transactions and the deduction of consideration paid to customers from revenue. As a result, revenue decreased by ¥1,870 million, cost of sales by ¥1,801 million, and selling, general and administrative expenses by ¥68 million in the current quarter. - FY2021AdvancedAnnual report
「They are scheduled to be applied from the beginning of the fiscal year ending March 2022. The impact has not yet been determined as of the preparation of these consolidated financial statements.」
The company has reconfirmed its plan to apply the revenue recognition accounting standards and other requirements from the fiscal year ending March 2022, and has specified the presentation changes resulting from their application, including presenting transactions conducted as an agent on a net basis and deducting consideration paid to customers from revenue. It states that there will be no cumulative impact on retained earnings at the beginning of the following fiscal year from applying the revenue recognition standards. - 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 company has reconfirmed that the accounting standards and other requirements concerning revenue recognition are scheduled to be applied in the fiscal year ending March 2022 and that their impact is being assessed. - FY2018First statedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022. The amount of the impact is currently being assessed in preparing these consolidated financial statements.」
This is the first disclosure that the new accounting standards and other requirements concerning revenue recognition are scheduled to be applied from the beginning of the fiscal year ending March 2022, and that the impact on the financial statements is being assessed.