Accounting Estimates, Including Impairment of Fixed Assets, Based on Assumptions Regarding COVID-19
First written in FY2021-Q1. 1 of 3 entries say "Restated". Latest entry: FY2021-Q3.
Fukutome Meat Packers moved to the "Worse" side of this theme in 2021, 2 years before the typical company in this theme (2023).
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2021-Q3ReframedAnnual report
「We had assumed that the spread of the infection would subside by the end of the current consolidated fiscal year and that demand would gradually return to normal thereafter, but we have determined that the infection will not have subsided by the end of the current consolidated fiscal year. Accordingly, we have made accounting estimates, including estimates for impairment losses on fixed assets, based on the assumption that the impact of the spread of COVID-19 will continue for at least a certain period.」
The company changed its accounting estimates from the previous assumption that the infection would subside and demand would normalize by the end of the fiscal year to the assumption that the impact would continue for at least a certain period. - FY2021-Q2RestatedAnnual report
「Based on the assumption that the spread of the infection will subside by the end of the current consolidated fiscal year and that demand will gradually return to normal thereafter, we have made accounting estimates, including estimates for impairment of fixed assets. There have been no material changes from the assumptions at the end of the previous consolidated fiscal year.」
The company continues to make accounting estimates, including estimates for impairment of fixed assets, based on the assumption that demand will normalize after the infection subsides, and states that there have been no material changes from the end of the previous fiscal year. - FY2021-Q1First statedAnnual report
「In our principal businesses, processed foods and meat, we anticipate a risk of fluctuations in demand during the current consolidated fiscal year due to the impact of the spread of COVID-19 and other factors. Based on the assumption that the spread of the infection will subside by the end of the current consolidated fiscal year and that demand will gradually return to normal thereafter, we have made accounting estimates, including estimates for impairment of fixed assets. There have been no material changes from the assumptions at the end of the previous consolidated fiscal year.」
Based on demand fluctuations resulting from COVID-19, the company assumed that the infection would subside and demand would normalize toward the end of the fiscal year, and made accounting estimates, including estimates for impairment of fixed assets.