Decline in reported revenue from adoption of the revenue recognition standard
First written in FY2021. 4 of 9 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2025.
Axial Retailing moved to the "Worse" side of this theme in 2021.
144 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The figures presented are before adjustments under the Accounting Standard for Revenue Recognition and related guidance.」
Even after applying the revenue recognition standard, the company has continued to use unadjusted figures for sales indicators in its disclosures. - FY2025-H1RestatedAnnual report
「The figures presented are before adjustments under the Accounting Standard for Revenue Recognition and related guidance.」
Even after applying the revenue recognition standard, the company has continued to use unadjusted figures for sales indicators in its disclosures. - FY2024RestatedAnnual report
「The figures presented are before adjustments under the Accounting Standard for Revenue Recognition and related guidance.」
Even after applying the revenue recognition standard, the company has continued to use unadjusted figures for sales indicators in its disclosures. - FY2023-Q1RestatedAnnual report
「The figures presented are before adjustments under the Accounting Standard for Revenue Recognition and related guidance.」
Even after applying the revenue recognition standard, the company has continued to use unadjusted figures for sales indicators in its disclosures. - FY2022MaterialisedAnnual report
「As a result of applying these accounting standards and related guidance, compared with the amounts that would have been reported under the previous accounting methods, revenue decreased by ¥10,553 million, cost of sales by ¥9,500 million, and selling, general and administrative expenses by ¥1,059 million during the fiscal year, while operating profit, ordinary profit and profit before income taxes increased by ¥5 million each.」
The impact of applying the revenue recognition standard was reflected in the full-year results. Revenue decreased by ¥10,553 million versus the previous method, while operating profit, ordinary profit and profit before income taxes increased by ¥5 million. - FY2022-Q3MaterialisedAnnual report
「As a result of applying these accounting standards and related guidance, compared with the amounts that would have been reported under the previous accounting methods, revenue decreased by ¥8,209 million, cost of sales by ¥7,306 million, and selling, general and administrative expenses by ¥909 million during the nine-month period ended [date], while operating profit, ordinary profit and profit before income taxes increased by ¥5 million each.」
The impact of applying the revenue recognition standard was reflected in the nine-month results. Revenue decreased by ¥8,209 million versus the previous method, while operating profit, ordinary profit and profit before income taxes increased by ¥5 million. - FY2022-Q2MaterialisedAnnual report
「As a result of applying these standards, compared with the previous accounting method, net sales for the cumulative second quarter period decreased by ¥5,490 million, cost of sales by ¥4,866 million, and selling, general and administrative expenses by ¥623 million. Operating income, ordinary income, and profit before income taxes increased by ¥0 million each.」
The impact of applying the revenue recognition standard was reflected in the cumulative second quarter results. Revenue decreased by ¥5,490 million compared with the previous accounting treatment, while the impact on operating profit, ordinary profit and profit before income taxes was ¥0 million. - FY2022-Q1MaterialisedAnnual report
「We have applied this accounting standard and related standards from the beginning of the first quarter of the current consolidated fiscal year. As revenue is accounted for differently from the same period of the previous year as a result, year-on-year comparisons of revenue and related indices are not provided in the following explanation of operating results.」
The accounting standards for revenue recognition and related standards were actually applied from 1 April 2021, changing the basis for revenue comparisons. Revenue for the first quarter decreased by ¥2,627 million compared with the previous accounting treatment, while the impact on each profit measure was immaterial. - FY2021First statedAnnual report
「As a result of applying these standards, net sales are expected to decrease by approximately ¥5.0 billion for the cumulative second quarter period and approximately ¥10.0 billion for the full year compared with the previous accounting method. The impact on each profit figure is expected to be immaterial.」
The Company indicated as a new accounting and disclosure impact that adoption of the revenue recognition standard from the fiscal year ending March 2022 was expected to reduce revenue by approximately ¥5 billion for the cumulative second quarter and approximately ¥10 billion for the full year.