Application of the revenue recognition standard and net presentation of marine insurance agency revenue
First written in FY2022-Q1. 4 of 5 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2026: 1 of 7 companies on the "Worse" side.
59 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「In addition, as a result of applying the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards, operating revenue and operating costs each decreased by ¥29,846 thousand, with no impact on operating profit, ordinary profit or profit before income taxes for the year.」
It is stated that the company has continued to apply the revenue recognition accounting standard and recognize marine insurance agency income on a net basis. Operating revenue and operating costs each decreased by ¥29.846 million, but there was no impact on operating profit or other items. - FY2022RestatedAnnual report
「In addition, as a result of applying the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards, operating revenue and operating costs each decreased by ¥29,846 thousand, with no impact on operating profit, ordinary profit or profit before income taxes for the year.」
It is stated that the company has continued to apply the revenue recognition accounting standard and recognize marine insurance agency income on a net basis. Operating revenue and operating costs each decreased by ¥29.846 million, but there was no impact on operating profit or other items. - FY2022-Q3RestatedAnnual report
「As a result, compared with the previous policy, operating revenue and operating costs for the cumulative period of the current third quarter each decreased by ¥21,744 thousand, with no impact on operating profit, ordinary profit or profit before income taxes for the quarter.」
The application of the Revenue Recognition Standard and net presentation of marine insurance agency revenue continued, with operating revenue and operating costs for the cumulative period each decreasing by ¥21,744 thousand. It states that there was no impact on operating profit, ordinary profit or profit before income taxes for the quarter. - FY2022-Q2RestatedAnnual report
「As a result, compared with the previous policy, operating revenue and operating costs for the cumulative period of the current second quarter each decreased by ¥13,692 thousand, with no impact on operating profit, ordinary profit or profit before income taxes for the quarter.」
The application of the Revenue Recognition Standard and net presentation of marine insurance agency revenue continued, with operating revenue and operating costs for the cumulative period each decreasing by ¥13,692 thousand. It states that there was no impact on operating profit, ordinary profit or profit before income taxes for the quarter. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the current first-quarter accounting period. 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 transfers to the customer. Accordingly, although operating revenue from marine insurance agency services was previously recognized on a gross basis, we changed to recognizing revenue on a net basis after determining our role in providing goods or services to customers. As a result, compared with the previous policy, operating revenue and operating costs for the cumulative period of the current first quarter each decreased by ¥6,724 thousand, with no impact on operating profit, ordinary profit or profit before income taxes for the quarter.」
The Revenue Recognition Standard was applied from the beginning of the current first-quarter accounting period, and operating revenue from marine insurance agency services was changed from gross presentation to net presentation. Operating revenue and operating costs each decreased by ¥6,724 thousand, with no impact on operating profit or other profit measures.