Adoption of the revenue recognition accounting standard and changes in revenue presentation
First written in FY2023-Q1. 1 of 2 entries say "Advanced", first in FY2023-Q3. Latest entry: FY2023-Q3.
6 other companies' latest entry also says "Advanced".
- FY2023-Q3AdvancedAnnual report
「As a result, for the cumulative third quarter of the fiscal year, revenue decreased by ¥171,177 million, other operating revenue increased by ¥38,748 million, operating revenue decreased by ¥132,429 million, cost of sales decreased by ¥95,876 million, operating profit increased by ¥745 million, and ordinary profit and profit before income taxes decreased by ¥139 million each. The opening balance of retained earnings also increased by ¥5,602 million.」
The cumulative impact of applying the revenue recognition accounting standard on revenue, operating revenue, operating profit and retained earnings, among other items, was disclosed with specific figures. - FY2023-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards have been applied from the beginning of the first quarter consolidated accounting period. 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.」
We changed the accounting policy for transactions conducted as an agent from gross to net presentation and began recognizing as revenue the points providing material rights as performance obligations. The application reduced operating revenue by ¥44,402 million and operating profit by ¥319 million, while increasing retained earnings at the beginning of the period by ¥5,541 million.