Change in the timing of revenue recognition for new-vehicle sales following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 4 of 5 entries say "Restated". Latest entry: FY2023.
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- FY2023RestatedAnnual report
「For new-vehicle sales, the company purchases vehicles for resale. The transaction price is calculated based on the price under the contract with the customer, and revenue is recognized when the vehicle is delivered.」
The company continues to recognize revenue from new-vehicle sales when the vehicle is delivered to the customer following adoption of the Revenue Recognition Accounting Standard. - FY2022RestatedAnnual report
「Accordingly, for new-vehicle sales by consolidated subsidiaries, the timing of revenue recognition changed from vehicle registration, as under the previous practice, to delivery to the customer.」
The company continued applying the Revenue Recognition Accounting Standard, changing the timing of revenue recognition for new-vehicle sales from vehicle registration to delivery to the customer. Revenue increased by ¥839 million and operating profit and other measures by ¥81 million during the year. - FY2022-Q3RestatedAnnual report
「Accordingly, for new-vehicle sales by consolidated subsidiaries, the timing of revenue recognition changed from vehicle registration, as under the previous practice, to delivery to the customer.」
The company continued applying the Revenue Recognition Accounting Standard and related standards, changing the timing of revenue recognition for new-vehicle sales from vehicle registration to delivery to the customer. For the current third-quarter cumulative period, the impact was reported as an increase of ¥4,347 million in revenue and ¥426 million in operating profit and other measures. - FY2022-Q2RestatedAnnual report
「Accordingly, for new-vehicle sales by consolidated subsidiaries, the timing of revenue recognition changed from vehicle registration, as under the previous practice, to delivery to the customer.」
The company continued applying the Revenue Recognition Accounting Standard and related standards, changing the timing of revenue recognition for new-vehicle sales from vehicle registration to delivery to the customer. For the current second-quarter cumulative period, the impact was an increase of ¥3,922 million in revenue and ¥386 million in operating profit and other measures. - FY2022-Q1First statedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, dated 31 March 2020; the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the current first-quarter consolidated accounting period. Revenue is recognized when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. Accordingly, for new-vehicle sales by consolidated subsidiaries, the timing of revenue recognition changed from vehicle registration to delivery to the customer.」
The company adopted the Revenue Recognition Accounting Standard and related standards from the beginning of the current quarter, changing the timing of revenue recognition for new-vehicle sales from vehicle registration to delivery to the customer. As a result, revenue increased by ¥5,393 million, operating profit and other measures increased by ¥537 million, and retained earnings at the beginning of the period decreased by ¥447 million.