Change to recognizing revenue for hotel products upon delivery
First written in FY2024-Q3. 1 of 2 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
94 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「In its hotel business, which includes the sale of hotel products and related items, the Group had applied the alternative treatment prescribed in Paragraph 98 of the Implementation Guidance on Accounting Standard for Revenue Recognition and recognized revenue upon shipment when the period from shipment until control of the products or related items transferred to the customer was a normal period. However, during the second half of the previous consolidated fiscal year, the Group changed its method to recognize revenue when the products or related items are delivered to the customer.」
The accounting policy of recognizing revenue upon delivery, changed during the second half of the previous consolidated fiscal year, was reconfirmed for hotel products and related items. - FY2024-Q3First statedAnnual report
「In its hotel business, which includes the sale of hotel products and related items, the Group had applied the alternative treatment prescribed in Paragraph 98 of the Implementation Guidance on Accounting Standard for Revenue Recognition and recognized revenue upon shipment when the period from shipment until control of the products or related items transferred to the customer was a normal period. However, following the update of the system used for sales of hotel products and related items during the third quarter of the current consolidated accounting period, among other factors, the Group changed its method to recognize revenue when the products or related items are delivered to the customer.」
For sales of hotel products and related items, the accounting method was changed from recognizing revenue upon shipment to recognizing it upon delivery to the customer following a system update. The impact was immaterial, and the change was not applied retrospectively.