Changes in Revenue Recognition Methods Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
2 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, operating revenue for the cumulative third quarter of the current consolidated fiscal year decreased by ¥26 million, while gross operating profit, operating income, ordinary income and quarterly net income before income taxes decreased by ¥21 million each. Quarterly net income attributable to owners of the parent decreased by ¥14 million, and the opening balance of retained earnings for the current fiscal year decreased by ¥9 million.」
There was no change in the policy for applying the Revenue Recognition Standard. For the cumulative third quarter, the impact was reported as ¥26 million on operating revenue, ¥21 million on operating income and related items, and ¥14 million on quarterly net income attributable to owners of the parent. - FY2022-Q2RestatedAnnual report
「As a result, operating revenue for the cumulative second quarter of the current consolidated fiscal year decreased by ¥18 million, while gross operating profit, operating income, ordinary income and quarterly net income before income taxes decreased by ¥15 million each. Quarterly net income attributable to owners of the parent decreased by ¥10 million, and the opening balance of retained earnings for the current fiscal year decreased by ¥9 million.」
There was no change in the policy for applying the Revenue Recognition Standard. For the cumulative second quarter, the impact was reported as ¥18 million on operating revenue, ¥10 million on quarterly net income attributable to owners of the parent and ¥9 million on opening retained earnings. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied 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. Accordingly, membership fees under the membership program, which were previously recognized as revenue when received, are now recognized when the goods or services are provided. In addition, revenue from service operations, which was previously recognized upon completion of the services, is now recognized over a specified period by estimating the progress toward satisfaction of the relevant performance obligation.」
The Revenue Recognition Standard and other standards were applied from the beginning of the first quarter of fiscal 2021, changing the timing of revenue recognition for membership fees and service operations. As a result, operating revenue for the quarter decreased by ¥23 million, quarterly net income attributable to owners of the parent decreased by ¥13 million, and the opening balance of retained earnings decreased by ¥9 million.