Application of the Revenue Recognition Accounting Standard and Contract Liability Treatment of Agent Transactions and Points
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
24 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「As a result, for the cumulative third quarter, net sales decreased by ¥405.437 million, cost of sales by ¥281.026 million, and gross profit, gross operating profit, and selling, general and administrative expenses by ¥124.411 million each. The impact on operating profit, ordinary profit and profit before income taxes for the quarter was immaterial. The opening balance of retained earnings also decreased by ¥23.123 million.」
The company continues to apply the revenue recognition standard and related guidance and has specifically disclosed the decreases in net sales and other items during the cumulative third quarter, as well as the immaterial impact on operating profit and other items. - FY2023-Q2RestatedAnnual report
「As a result, for the cumulative second quarter, net sales decreased by ¥268.622 million, cost of sales by ¥188.798 million, and gross profit, gross operating profit, and selling, general and administrative expenses by ¥79.823 million each. The impact on operating profit, ordinary profit and profit before income taxes for the quarter was immaterial. The opening balance of retained earnings also decreased by ¥23.123 million.」
The company continues to apply the revenue recognition standard and related guidance from the beginning of the first quarter of the fiscal year and has disclosed the specific impact for the cumulative second quarter. - FY2023-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, 26 March 2021) from the beginning of the first quarter of the current fiscal year. Accordingly, 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.」
From the beginning of the first quarter of the current fiscal year, the company applied the revenue recognition standard and related guidance, adopting a policy of presenting agency transactions on a net basis and recognising points that provide material rights as contract liabilities and performance obligations. As a result of the adoption, net sales decreased by ¥132.747 million and retained earnings at the beginning of the fiscal year decreased by ¥23.123 million.