Application of the Revenue Recognition Standard

「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the current first quarter of the consolidated fiscal year. Revenue is now recognised at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. Accordingly, transactions in which the group was determined to be acting as an agent are presented on a net basis. For instalment sales transactions, the company also changed its method to recognise revenue in a lump sum on the date the instalment sale begins.」