Changes in the recognition of commuter-fare and travel-business revenue upon adoption of the revenue recognition standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
5 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter increased by ¥679 million, cost of sales increased by ¥672 million, and operating loss, ordinary loss and loss before income taxes each narrowed by ¥6 million. The opening balance of retained earnings also increased by ¥22 million.」
Regarding the Revenue Recognition Standard adopted from the first quarter, revenue increased by ¥679 million and cost of sales by ¥672 million in the cumulative third quarter, while each loss narrowed by ¥6 million. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the cumulative second quarter increased by ¥241 million, cost of sales increased by ¥232 million, and operating loss, ordinary loss and loss before income taxes each narrowed by ¥9 million. The opening balance of retained earnings also increased by ¥22 million.」
Regarding the Revenue Recognition Standard adopted from the first quarter, revenue increased by ¥241 million and cost of sales by ¥232 million in the cumulative second quarter, while each loss narrowed by ¥9 million. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and related standards were adopted from the beginning of the first quarter of the current fiscal year. Revenue is recognized 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, commuter fares in the route-bus business, which were previously recognized over a specified period beginning in the month commuter passes were sold, are now recognized over the validity period of the passes because the performance obligation is satisfied over that period. Travel-business revenue was previously recognized on a net basis, after deducting amounts paid to suppliers and others from the total consideration received from customers. For transactions in which the Group provides goods or services directly to customers and acts as principal, revenue is now recognized on a gross basis at the total consideration received from customers. As a result, revenue for the cumulative first quarter increased by ¥105 million, cost of sales increased by ¥87 million, and operating loss, ordinary loss and loss before income taxes each narrowed by ¥17 million. The opening balance of retained earnings also increased by ¥22 million.」
The Revenue Recognition Standard was adopted from the first quarter, with commuter-pass revenue recognized over the validity period and travel-business revenue for principal transactions changed to gross presentation. As a result, revenue increased by ¥105 million, cost of sales by ¥87 million, and each loss narrowed by ¥17 million.