Changes in Revenue Recognition and Presentation Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 1 of 5 entries say "Restated". Latest entry: FY2023.
24 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Implementation Guidance on the Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the “Fair Value Measurement Guidance”) was adopted from the beginning of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Guidance, the new accounting policies prescribed by the Fair Value Measurement Guidance will be applied prospectively. There is no impact from this adoption.」
The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement for the full fiscal year and reconfirmed that it had no impact on the financial statements. - FY2022Updated the full-year impact of application (operating income and other items decreased by ¥25 million)Annual report
「As a result, for the current consolidated fiscal year, net sales and operating revenue decreased by ¥3,939 million, cost of sales decreased by ¥2,546 million, and selling, general and administrative expenses decreased by ¥1,367 million. Operating income, ordinary income and profit before income taxes and other adjustments each decreased by ¥25 million. The opening balance of retained earnings also decreased by ¥76 million.」
The presentation and profit or loss impact of applying the revenue recognition accounting standard for the full fiscal year was updated. Net sales and operating revenue decreased by ¥3,939 million, while operating income and other items decreased by ¥25 million. - FY2022-Q3Updated the impact of application for the third quarter (operating income and other items decreased by ¥39 million)Annual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales and operating revenue decreased by ¥3,104 million, cost of sales decreased by ¥2,019 million, and selling, general and administrative expenses decreased by ¥1,045 million. Operating income, ordinary income and profit before income taxes and other adjustments each decreased by ¥39 million. The opening balance of retained earnings also decreased by ¥76 million.」
The presentation and profit or loss impact of applying the revenue recognition accounting standard for the cumulative third quarter was updated. Net sales and operating revenue decreased by ¥3,104 million, while operating income and other items each decreased by ¥39 million. - FY2022-Q2Updated the impact of application for the second quarterAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales and operating revenue decreased by ¥2,105 million, cost of sales decreased by ¥1,423 million, and selling, general and administrative expenses decreased by ¥685 million. Operating income, ordinary income and profit before income taxes and other adjustments each increased by ¥4 million.」
The presentation and profit or loss impact of applying the revenue recognition accounting standard for the cumulative second quarter was updated. Net sales and operating revenue decreased by ¥2,105 million, while operating income and other items each increased by ¥4 million. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were adopted from the beginning of the first quarter consolidated accounting period. Revenue is recognized at the point when control of the promised goods or services transfers to the customer, at the amount expected to be received in exchange.」
The company applied the revenue recognition accounting standard from the beginning of the first quarter of the current consolidated fiscal year. It changed the recognition of consignment sales at in-shop locations and elsewhere from gross to net, and began deducting points issued under its own loyalty program from revenue as a performance obligation. As a result of the application, net sales and operating revenue for the first quarter decreased by ¥1,030 million, while operating income, ordinary income and other items each increased by ¥46 million.