Adoption of the revenue recognition standard and net presentation of agent transactions
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022.
50 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result of this change, compared with the previous method, sales for the current consolidated fiscal year decreased by ¥302,444 million in the “Electricity-Related Businesses” segment (intersegment sales or transfers) and by ¥2,413 million in the “Other Businesses” segment (sales to external customers and intersegment sales or transfers).」
The Revenue Recognition Standard continued to be applied throughout the fiscal year, and the impact of the change to net presentation for transactions in which the Group acts as an agent on the presentation of sales was disclosed. - FY2022-Q3RestatedAnnual report
「As a result of this change, compared with the previous method, sales for the first nine months of the current consolidated fiscal year decreased by ¥188,739 million in the “Electricity-Related Businesses” segment (intersegment sales or transfers) and by ¥2,059 million in the “Other Businesses” segment (sales to external customers and intersegment sales or transfers).」
It disclosed that continued application of the Revenue Recognition Standard and the change to net presentation for transactions in which the Group acts as an agent reduced sales by ¥188,739 million in the Electricity-Related Businesses segment and by ¥2,059 million in Other Businesses. - FY2022-Q1First statedAnnual report
「The Group has applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current consolidated 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. As a result, for certain transactions, although the total consideration received from customers was previously recognized as revenue, for transactions in which the Group acts as an agent in providing goods or services to customers, revenue is now recognized on a net basis, after deducting the amount paid to suppliers from the amount received from customers. As a result of this change, compared with the previous method, sales in the “Electricity-Related Businesses” segment (intersegment sales or transfers) for the first three months of the current consolidated fiscal year decreased by ¥32,951 million.」
The Revenue Recognition Standard and other standards were applied from 1 April 2021, changing transactions in which the Group acts as an agent from gross to net presentation. Intersegment sales in the Electricity-Related Businesses segment decreased by ¥32,951 million compared with the previous method, although the impact on the financial statements was described as immaterial.