Change in Revenue Recognition Method upon Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 4 entries say "Restated". Latest entry: FY2022.
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- FY2022Full-year impact finalizedAnnual report
「Application of the revenue recognition accounting standards and other standards reduced net sales by ¥1,407 million and operating profit and ordinary profit by ¥42 million each.」
The Company disclosed full-year decreases of ¥1,407 million in net sales and ¥42 million each in operating profit and ordinary profit as the impact of applying the revenue recognition accounting standards. - FY2022-Q3Cumulative Impact UpdatedAnnual report
「Application of the Accounting Standard for Revenue Recognition and other standards reduced net sales by ¥966 million and operating profit and ordinary profit by ¥60 million each.」
Although there was no change in the accounting treatment itself under the revenue recognition accounting standards and other standards applied from the first quarter, the Company disclosed decreases of ¥966 million in net sales and ¥60 million each in operating profit and ordinary profit for the cumulative third-quarter period. - FY2022-Q2RestatedAnnual report
「As a result, for certain transactions in the merchandise sales business, the Company changed from recognizing revenue on a gross basis to recognizing it on a net basis after assessing its role in providing goods or services to customers. For certain transactions for which revenue was previously recognized at shipment, the Company also changed from recognizing revenue at shipment to recognizing it upon delivery.」
The Company continues to recognize certain transactions in the merchandise sales business on a net basis and to recognize certain transactions upon delivery rather than shipment, based on the revenue recognition accounting standards applied from the first quarter. For the cumulative second-quarter period, it also disclosed decreases of ¥553 million in net sales and ¥28 million each in operating profit and ordinary profit as the impact of these changes. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition and other standards from the beginning of the first quarter of the current fiscal year, recognizing revenue 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. As a result, for certain transactions in the merchandise sales business, the Company changed from recognizing revenue on a gross basis to recognizing it on a net basis after assessing its role in providing goods or services to customers. For certain transactions for which revenue was previously recognized at shipment, the Company also changed from recognizing revenue at shipment to recognizing it upon delivery.」
The Company applied the revenue recognition accounting standards and other standards from the beginning of the first quarter of FY2022, changing certain transactions in the merchandise sales business from gross to net revenue recognition and changing the timing of recognition for certain transactions from shipment to delivery. As a result of the application, net sales for the quarter decreased by ¥26 million, operating profit and ordinary profit each decreased by ¥6 million, and the opening balance of retained earnings decreased by ¥26 million.