Changes in revenue recognition for licensing and agency transactions following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「As a result, opening retained earnings for the first quarter of the consolidated fiscal period increased by ¥122.056 million, while net sales for the nine months ended the third quarter decreased by ¥72.394 million compared with the previous method.」
The company continued to apply the revenue recognition accounting standard and disclosed an increase of ¥122.056 million in opening retained earnings and an impact of ¥72.394 million on cumulative net sales. - FY2022-Q2RestatedAnnual report
「As a result, opening retained earnings for the first quarter of the consolidated fiscal period increased by ¥122.056 million, while net sales for the six months ended the second quarter decreased by ¥34.512 million compared with the previous method.」
The company continued to apply the revenue recognition accounting standard and disclosed an increase of ¥122.056 million in opening retained earnings and an impact of ¥34.512 million on net sales for the six months ended the second quarter. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter of the current consolidated fiscal year, we have applied the Accounting Standard for Revenue Recognition and related standards, and recognize revenue at the amount expected to be received in exchange for goods or services when control of the promised goods or services transfers to the customer.」
The revenue recognition accounting standard was applied from the beginning of the first quarter of the current consolidated fiscal year. License sales are recognized when the customer is able to benefit from them, while agency transactions are recognized on a net basis after deducting payments to suppliers. Opening retained earnings increased by ¥122.056 million, and sales for the quarter decreased by ¥15.723 million compared with the previous method.