Changes in the Recognition of Agent Transactions and Points Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
24 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, compared with the previous accounting treatment, operating revenue for the cumulative third quarter of the current consolidated fiscal year decreased by ¥15,715 million, cost of sales decreased by ¥12,890 million, selling, general and administrative expenses decreased by ¥2,819 million, and operating income, ordinary income and quarterly net income before income taxes decreased by ¥5 million each.」
The net presentation of agency transactions and the treatment of points as performance obligations continued to be applied, with the cumulative-period impact disclosed as a ¥15,715 million decrease in operating revenue, among other effects. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first-quarter consolidated accounting period. Revenue is recognized 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.」
Agency transactions were presented on a net basis, while revenue recognition for the company's points, which provide material rights, was deferred by treating them as performance obligations. These and other changes revised the revenue recognition method, reducing operating revenue for the quarter by ¥4,762 million.