Changes in Gross and Net Revenue Presentation Following Adoption of the Revenue Recognition Standard
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
50 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For the consolidated fiscal year, revenue decreased by ¥8,730 million and other operating income increased by ¥1,277 million, resulting in a ¥7,453 million decrease in operating revenue. However, cost of sales decreased by ¥6,308 million and selling, general and administrative expenses decreased by ¥1,144 million, so there was no impact on operating income, ordinary income or profit before income taxes.」
The Revenue Recognition Standard continued to be applied for the full fiscal year, with the change from gross to net presentation continuing. The company stated that there was no impact on operating income or other profit figures. - FY2023-Q2RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related 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 transfers to the customer.」
The Revenue Recognition Standard adopted from the first quarter continued to be applied in the second quarter. There was no impact on operating income or other profit figures. - FY2023-Q1First statedAnnual 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 adopted the revenue recognition standard from the beginning of the first quarter of the fiscal year and changed its method of recognizing revenue from consignment sales to recognizing the net amount after deducting payments to suppliers from the gross consideration received from customers. Operating revenue decreased by ¥1.832 billion, but there was no impact on operating income or other profit figures.