Revenue recognition change
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Filing comparison
Tokyo Lifestyle Co., Ltd. changed its revenue recognition disclosure
Under ASC 606, revenue is recognized when control of promised goods is transferred or service is rendered to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services, and it is probable that the Company will collect the consideration.
Evidence
- New language
- Under ASC 606, revenue is recognized when control of promised goods is transferred or service is rendered to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services, and it is probable that the Company will collect the consideration., The Company currently generates its revenue through retail and wholesale of Japanese beauty and health products, luxury and electronic products, collectible cards and trendy toys, as well as sundry and other products and services, through a multi-channel distribution network.
- Prior filed
- 2025-07-10
- Prior form
- 20-F
- Similarity
- 0.011
- Source
- revenue recognition note comparison
- Threshold
- 0.6
- Why
- The revenue recognition policy disclosure changed materially from the previous comparable filing.
Language present now, absent from the prior filing:
- Under ASC 606, revenue is recognized when control of promised goods is transferred or service is rendered to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services, and it is probable that the Company will collect the consideration.
- The Company currently generates its revenue through retail and wholesale of Japanese beauty and health products, luxury and electronic products, collectible cards and trendy toys, as well as sundry and other products and services, through a multi-channel distribution network.