Adoption of the Revenue Recognition Standard and Net Presentation of Agent Transactions
First written in FY2022-Q3. 2 of 3 entries say "Restated". Latest entry: FY2024.
50 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The group applies the Accounting Standard for Revenue Recognition and the Implementation Guidance on Accounting Standard for Revenue Recognition, recognizing revenue 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.」
The group continues to apply the Revenue Recognition Standard and, on a consolidated basis, to recognize internet advertising transactions on a net basis after deducting media costs. - FY2022RestatedAnnual report
「Accordingly, whereas revenue was previously recognized at the gross amount of consideration received from customers, for transactions in which the company acts as an agent in providing goods or services to customers, the company has changed to recognizing revenue on a net basis, deducting amounts paid to business partners and others from the amount received from customers.」
The company continues to disclose the application of the Revenue Recognition Standard and the net presentation of transactions in which it acts as an agent in its full-year report. It explains that revenue and cost of sales decreased by ¥2,155.063 million, while operating profit and other items were unaffected. - FY2022-Q3First statedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other relevant standards from the beginning of the 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 is transferred to the customer. Accordingly, whereas revenue was previously recognized at the gross amount of consideration received from customers, for transactions in which the company acts as an agent in providing goods or services to customers, the company has changed to recognizing revenue on a net basis, deducting amounts paid to business partners and others from the amount received from customers.」
The company applied the new standard from the beginning of the first quarter accounting period and changed from gross to net presentation for transactions in which it acts as an agent. As a result, revenue and cost of sales for the nine months ended the third quarter decreased by ¥1,372.893 million, but operating profit and other items were unaffected, according to the disclosure.