Adoption of the Revenue Recognition Accounting Standard and Net Presentation of Agent Transactions
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
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- FY2022AdvancedAnnual report
「As a result, compared with the figures before applying the revenue recognition accounting standard and other standards, the consolidated statement of income for the current fiscal year shows operating revenue down ¥20,706 million, operating expenses down ¥20,681 million, and operating profit, ordinary profit and profit before income taxes each down ¥25 million.」
The company disclosed the full-year effects of net recognition of agent transactions and other changes arising from the full-year application of the revenue recognition accounting standard, including a ¥20,706 million impact on operating revenue and a ¥25 million impact on operating profit and other profit measures. - FY2022-Q3RestatedAnnual report
「As a result, for the cumulative third quarter of the current fiscal year, operating revenue was ¥15,085 million, operating expenses were ¥15,071 million, and operating profit, ordinary profit and profit before income taxes each decreased by ¥14 million. Retained earnings at the beginning of the fiscal year also decreased by ¥80 million.」
The company continues to apply the revenue recognition accounting standard and discloses the effects on presentation and profit for the cumulative period arising from net recognition of agent transactions, among other effects. - FY2022-Q2RestatedAnnual report
「As a result, for the cumulative second quarter of the current fiscal year, operating revenue was ¥8,546 million, operating expenses were ¥8,541 million, and operating profit, ordinary profit and profit before income taxes each decreased by ¥5 million. Retained earnings at the beginning of the fiscal year also decreased by ¥80 million.」
The company continues to apply the revenue recognition accounting standard and discloses the effects on presentation and retained earnings arising from net recognition of agent transactions in the logistics and shipping businesses, among other effects. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition and other standards were applied from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the point 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. As a result, the timing of revenue recognition was changed for certain transactions in the logistics business. In addition, for transactions in which the company acts as an agent in the logistics and shipping businesses, the method of recognizing revenue was changed to net presentation.」
The revenue recognition accounting standard was applied from the beginning of the first quarter, changing the recognition timing for certain logistics transactions and the gross versus net presentation of agent transactions in the logistics and shipping businesses. Revenue decreased by ¥4,006 million, operating profit and other profit measures decreased by ¥9 million, and retained earnings at the beginning of the fiscal year decreased by ¥80 million.