Application of Revenue-Recognition Accounting Standards
First written in FY2023-Q1. 1 of 2 entries say "Restated". Latest entry: FY2023-Q2.
27 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「As a result, for the cumulative second-quarter period, net sales increased by ¥4,371 million, cost of sales decreased by ¥910 million, selling, general and administrative expenses increased by ¥5,354 million, operating profit decreased by ¥72 million, and ordinary profit and profit before income taxes each increased by ¥15 million.」
The company discloses the impact of the revenue recognition accounting standards and related standards, applied from the first quarter, on net sales, expenses and profit for the cumulative second-quarter period, and continues to apply them. - FY2023-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards were applied from the beginning of the first-quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer.」
The method of revenue recognition for delivery services, agency transactions and the loyalty points scheme was changed, with the company moving to recognizing delivery fees as revenue, presenting agency transactions on a net basis and presenting contract liabilities related to points. As a result of the adoption, first-quarter net sales increased by ¥2,582 million, cost of sales decreased by ¥460 million, selling, general and administrative expenses increased by ¥3,079 million and operating profit decreased by ¥36 million.