Future Adoption of the Revenue Recognition Standard
First written in FY2018. 1 of 6 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
- FY2022Update on the full-year impact of applying the revenue recognition accounting standardAnnual report
「As a result, for the fiscal year, revenue decreased by ¥2,096 million, cost of sales decreased by ¥1,519 million and selling, general and administrative expenses decreased by ¥17 million. Operating profit, ordinary profit and profit before income taxes each decreased by ¥559 million. The opening balance of retained earnings also decreased by ¥990 million.」
With the full-year adoption of the revenue recognition standard, revenue decreased by ¥2,096 million, operating profit and other items decreased by ¥559 million, and the opening balance of retained earnings decreased by ¥990 million. - FY2022-Q3Third-quarter update on the impact of adopting the revenue recognition standardAnnual report
「As a result, for the cumulative third quarter of the current fiscal year, revenue decreased by ¥1,700 million, cost of sales decreased by ¥1,720 million and selling, general and administrative expenses decreased by ¥11 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥32 million. The opening balance of retained earnings also decreased by ¥990 million.」
For the cumulative third quarter following adoption of the revenue recognition standard, the impact was updated to a ¥1,700 million decrease in revenue, a ¥32 million increase in operating profit and other items, and a ¥990 million decrease in the opening balance of retained earnings. - FY2022-Q2Update on the cumulative impact after adoptionAnnual report
「As a result, for the cumulative second quarter of the current fiscal year, revenue decreased by ¥681 million, cost of sales decreased by ¥777 million and selling, general and administrative expenses decreased by ¥0 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥96 million. The opening balance of retained earnings also decreased by ¥990 million.」
Following adoption of the revenue recognition standard, the impact on operating profit and other items for the cumulative second quarter was updated to an increase of ¥96 million, and the impact on the opening balance of retained earnings to a decrease of ¥990 million. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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.」
The revenue recognition standard was adopted from 1 September 2021, changing the methods of recognizing revenue from fees, transactions as an agent, U-NEXT points and the energy business. The impact of adoption on operating profit and other items for the first quarter was an increase of ¥51 million, while the impact on the opening balance of retained earnings was a decrease of ¥990 million. - FY2021Update on the timing of adoption and impact assessment of the revenue recognition standardAnnual report
「Application is scheduled from the beginning of the fiscal year ending August 2022. The amount of the impact is being assessed in preparing the consolidated financial statements.」
For the revenue recognition standard, the planned adoption date is the beginning of the fiscal year ending August 2022, and the amount of the impact remains under evaluation. - FY2018First statedAnnual report
「Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, dated 30 March 2018).」
The company states that the Accounting Standard for Revenue Recognition and its implementation guidance are scheduled to be applied from the beginning of the fiscal year ending August 2022, and that the amount of the impact is under evaluation.