Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2023.
17 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition and other standards from the beginning of the first quarter and now recognizes revenue when control of the promised goods or services transfers to the customer, at the amount expected to be received in exchange for those goods or services.」
The bank continues to apply the Revenue Recognition Standard and recognise revenue from service transactions and other transactions when the related performance obligations are satisfied. - FY2022-Q3RestatedAnnual report
「As a result, ordinary income, ordinary profit and quarterly net income before income taxes for the current third quarter cumulative period of the consolidated fiscal year each decreased by ¥0 million. The beginning balance of retained earnings also decreased by ¥41 million.」
The bank continued to apply the Revenue Recognition Standard and disclosed that its impact on ordinary income, ordinary profit and quarterly net income before income taxes for the third quarter cumulative period was a decrease of ¥0 million in each case, while the impact on beginning retained earnings was a decrease of ¥41 million. - FY2022-Q2AdvancedAnnual report
「As a result, ordinary income, ordinary profit and interim net income before income taxes for the current interim period of the consolidated fiscal year each decreased by ¥5 million. The beginning balance of retained earnings also decreased by ¥41 million.」
Following application of the Revenue Recognition Standard, ordinary income, ordinary profit and interim net income before income taxes each decreased by ¥5 million for the interim period, while beginning retained earnings decreased by ¥41 million. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the current first quarter of the consolidated fiscal year. 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. Accordingly, the bank and its consolidated subsidiaries changed the timing of revenue recognition for some service transactions previously recognised at a point in time, so that revenue is recognised when the performance obligations are satisfied. As a result, ordinary income, ordinary profit and quarterly net income before income taxes for the current first quarter of the consolidated fiscal year each increased by ¥1 million. The beginning balance of retained earnings also decreased by ¥41 million.」
The Revenue Recognition Standard and other standards were applied from the beginning of 1 April 2021, changing the timing of revenue recognition for some service transactions. As a result, ordinary income, ordinary profit and quarterly net income before income taxes for the current first quarter each increased by ¥1 million, while beginning retained earnings decreased by ¥41 million.