Komori
Life (8194) · InitiativeUpdated the full-year impact of application

Application of the Revenue Recognition Standard from the Fiscal Year Ending February 2023

First written in FY2019. 1 of 7 entries say "Restated". Latest entry: FY2023.

7entries
5years
0from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseFirst statedFY2019 – FY2022OtherFY2023-Q2 – FY20232019: 120192020: 120202021: 020212022: 320222023: 22023
Same theme, other companies
Impact of Applying Revenue Recognition Accounting Standards on Financial StatementsA theme 365 companies write about · 218 as a headwind · 11 as a tailwind
Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 200 companies compared. The sentences above are computed from all 200.Comparing 200 of the theme's 365 threads.
Full recordFilings, disclosures and news, newest first
  1. FY2023Updated the full-year impact of applicationAnnual report

    「As a result, compared with before the application of the revenue recognition standards and related standards, the consolidated statement of income for the consolidated accounting year shows decreases of ¥23,378 million in net sales, ¥14,785 million in cost of sales and ¥5,409 million in selling, general and administrative expenses, an increase of ¥3,177 million in operating revenue, and decreases of ¥6 million each in operating profit, ordinary profit and profit before income taxes.」

    The full-year impact of applying the revenue recognition standards on net sales, cost of sales, operating revenue, selling, general and administrative expenses and profit was disclosed.
  2. FY2023-Q3Updated the impact of application for the third quarter cumulative periodAnnual report

    「As a result, for the third quarter consolidated cumulative period, net sales decreased by ¥17,634 million, cost of sales decreased by ¥11,309 million, operating revenue increased by ¥2,313 million, selling, general and administrative expenses decreased by ¥4,004 million, and operating profit, ordinary profit and profit before income taxes decreased by ¥5 million each. The opening balance of retained earnings also increased by ¥80 million.」

    The impact of applying the revenue recognition standards on net sales, cost of sales, operating revenue, selling, general and administrative expenses, each profit measure and retained earnings for the third quarter cumulative period has been updated.
  3. FY2023-Q2Specified the impact of applicationAnnual report

    「As a result, for the second quarter consolidated cumulative period, net sales decreased by ¥11,841 million, cost of sales decreased by ¥7,637 million, operating revenue increased by ¥1,586 million, selling, general and administrative expenses decreased by ¥2,609 million, and operating profit, ordinary profit and profit before income taxes decreased by ¥6 million each. The opening balance of retained earnings also increased by ¥80 million.」

    The impact of applying the revenue recognition standards on presentation and profit for the second quarter cumulative period was disclosed in detail for net sales, cost of sales, operating revenue, selling, general and administrative expenses, each profit measure and retained earnings.
  4. FY2023-Q1AchievedAnnual report

    「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29) and related standards have been applied from the beginning of the first quarter consolidated accounting period.」

    The Accounting Standard for Revenue Recognition and related standards, previously scheduled to apply from the beginning of the fiscal year ending February 2023, were applied from the beginning of the first quarter consolidated accounting period. The methods for recognizing revenue from agent transactions, points and coupons were also changed.
  5. FY2022Clarified the impact of adoptionAnnual report

    「The impact on the consolidated financial statements of applying the Accounting Standard for Revenue Recognition and related standards will arise mainly from changing certain transactions, for which the Company determined that it acts as an agent and which were previously presented on a gross basis in both net sales and cost of sales, to a net basis. As a result, net sales and cost of sales in the consolidated statement of income for the following consolidated accounting year are expected to decrease compared with the previous presentation.」

    The planned application from the beginning of the fiscal year ending February 2023 remains unchanged. The expected impact has been specified: net sales and cost of sales for the following fiscal year are expected to decrease as agent transactions move from gross to net presentation.
  6. FY2020RestatedAnnual report

    「To be applied from the beginning of the fiscal year ending February 2023.」

    The Company continues to plan to apply the accounting standard for revenue recognition from the beginning of the fiscal year ending February 2023.
  7. FY2019First statedAnnual report

    「Scheduled application date: to be applied from the beginning of the fiscal year ending February 2023.」

    First states the planned application of the revenue recognition standard and guidance from the beginning of the fiscal year ending February 2023.
Moved together

None of this company's other threads moved the same way in the same document twice or more.

When this could move next
No upcoming earnings preview for Life yet.
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.