Adoption of the Revenue Recognition Accounting Standard and Related Standards

「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year. 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. One major change is that points awarded in connection with collecting fees from customers, which were previously recorded as commission expenses under selling, general and administrative expenses, are now deducted from commission income under operating revenue.」