Reclassification of personnel and other expenses in the real estate business to selling, general and administrative expenses
First written in FY2023-Q1. 1 of 2 entries say "Restated". Latest entry: FY2023-Q2.
5 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「From the first quarter of the consolidated fiscal year, certain personnel costs and expenses in the real estate business previously recognized as cost of sales have been recognized as selling, general and administrative expenses.」
The change in presentation implemented from the first quarter was continued, with ¥102.704 million of the ¥322.939 million in cost of sales for the same quarter of the previous year reclassified and presented as selling, general and administrative expenses. - FY2023-Q1First statedAnnual report
「From the first quarter of the current consolidated fiscal year, certain personnel costs and expenses in the real estate business previously recognized as cost of sales have been recognized as selling, general and administrative expenses. This change was made because, in light of changes in business activities resulting from the sale of properties owned by the company and other factors, as well as the reorganization of divisions, the roles of stores and employees have changed, and recognizing these costs as selling, general and administrative expenses was determined to more appropriately reflect the substance of the operations. To reflect this change in presentation, the quarterly consolidated statement of income for the cumulative first quarter of the previous consolidated fiscal year has been reclassified.」
Due to changes in the real estate business and the reorganization of divisions, the presentation of certain personnel costs and expenses was changed from cost of sales to selling, general and administrative expenses. ¥45.696 million was reclassified for the same period of the previous year.