Adoption of the Revenue Recognition Accounting Standard and Net Presentation of Agency Transactions
First written in FY2022-Q2. . Latest entry: FY2022.
12 other companies' latest entry also says "Other".
- FY2022Update to the Impact of Applying the Accounting StandardAnnual report
「As a result, operating revenue, cost of sales and selling, general and administrative expenses in the consolidated income statement for the current consolidated fiscal year decreased by ¥10,322 million, ¥10,131 million and ¥190 million, respectively. There was no impact on operating loss, ordinary loss, loss before income taxes and other adjustments in the consolidated income statement, or the opening balance of retained earnings in the consolidated statement of changes in shareholders’ equity and other items.」
The Company reported a full-year presentation impact from applying the Revenue Recognition Standard, including a ¥10,322 million decrease in operating revenue, but stated that there was no impact on profit or loss or the opening balance of retained earnings. - FY2022-Q3Update to the Impact of Applying the Accounting StandardAnnual report
「As a result, operating revenue, cost of sales and selling, general and administrative expenses for the cumulative third quarter of the current consolidated fiscal year decreased by ¥7,699 million, ¥7,560 million and ¥138 million, respectively. There was no impact on operating loss, ordinary loss, loss before income taxes and other adjustments, or the opening balance of retained earnings.」
The Company reported decreases for the nine months under the Revenue Recognition Standard of ¥76,999 million in operating revenue, ¥75,600 million in cost of sales and ¥138 million in selling, general and administrative expenses. It stated that there was no impact on profit or loss. - FY2022-Q2First statedAnnual report
「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 were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is recognised 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, while revenue from resale transactions and outsourced stores was previously recognised at the gross amount of consideration received from customers, for transactions in which the Group acts as an agent in providing goods or services to customers, revenue is now recognised on a net basis, after deducting the amount paid to suppliers from the amount received from customers. As a result, operating revenue, cost of sales and selling, general and administrative expenses for the cumulative second quarter of the current consolidated fiscal year decreased by ¥3,831 million, ¥3,745 million and ¥85 million, respectively. There was no impact on operating loss, ordinary loss, loss before income taxes and other adjustments, or the opening balance of retained earnings.」
Applied the Revenue Recognition Standard and other standards from the beginning of the first quarter of FY2022, and presented transactions qualifying as agent transactions on a net basis. Operating revenue for the six months ended the second quarter decreased by ¥3,831 million, but the Company explained that there was no impact on profit or loss.