Estimates of impairment and deferred tax assets based on the assumption that COVID-19 will subside
First written in FY2021-Q1. 4 of 8 entries say "Restated". Latest entry: FY2023-Q1.
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2023-Q1RestatedAnnual report
「There have been no material changes to the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described under “Significant Accounting Estimates: (1) Valuation of Tangible and Intangible Fixed Assets in the Home Cleaning Business” in the annual securities report for the previous fiscal year.」
We are reconfirming that there have been no material changes to the assumptions underlying accounting estimates for the valuation of fixed assets and other items, including those concerning the spread of COVID-19 and the timing of its containment. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described under “Additional Information: Accounting Estimates Related to the Spread of COVID-19” in the annual securities report for the previous fiscal year.」
We are reconfirming that there have been no material changes to the assumptions underlying the accounting estimates, including those concerning the future spread of the infection and the timing of its containment. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described under “Additional Information: Accounting Estimates Related to the Spread of COVID-19” in the annual securities report for the previous fiscal year.」
We are reconfirming that there have been no material changes to the assumptions underlying the accounting estimates, including those concerning the future spread of the infection and the timing of its containment. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions, including those concerning the future spread of COVID-19 and the timing of its containment, described under “Additional Information: Accounting Estimates Related to the Spread of COVID-19” in the annual securities report for the previous fiscal year.」
We are reconfirming that there have been no material changes from the previous fiscal year to the assumptions underlying the accounting estimates, including those concerning the spread of COVID-19 and the timing of its containment. - FY2021MaterialisedAnnual report
「As we recorded ¥176.591 million in impairment losses as extraordinary losses, partially reversed deferred tax assets and recorded ¥165.852 million in income taxes adjustment, the net loss was ¥756.563 million, a decrease in loss of ¥806.375 million from the previous fiscal year, which had net income of ¥49.811 million.」
In connection with the accounting estimates based on the assumption that the infection would be brought under control and revenue would recover, the full-year results actually included ¥176.591 million in impairment losses and a partial reversal of deferred tax assets. - FY2021-Q3MaterialisedAnnual report
「In light of these circumstances, we had assumed that, on the premise that COVID-19 would move toward containment, revenue would gradually recover through the end of the fiscal year ending February 2021. However, because the renewed spread of infections during the third quarter resulted in the impact continuing beyond the end of the fiscal year ending February 2021, we changed our assumption to one under which revenue would gradually recover through the end of the fiscal year ending February 2022, and made accounting estimates concerning the application of impairment accounting for fixed assets and the recoverability of deferred tax assets.」
Following the renewed spread of infections, the assumed timing of the recovery in revenue changed from the end of the fiscal year ending February 2021 to the end of the fiscal year ending February 2022. In addition, a partial reversal of deferred tax assets and the recording of ¥189.758 million in income taxes adjustment were actually recognized. - FY2021-Q2AdvancedAnnual report
「The state of emergency was lifted in all prefectures on 25 May, and we have been gradually resuming promotional activities since June to support a recovery in operating results. In light of these circumstances, we have made accounting estimates, including the application of impairment accounting for fixed assets and the recoverability of deferred tax assets, on the assumption that COVID-19 will move toward containment and that revenue will gradually recover through the end of the fiscal year ending February 2021.」
While reflecting the new circumstance that promotional activities were gradually resumed from June after the state of emergency was lifted, we have continued making accounting estimates for impairment and deferred tax assets based on the assumption of a recovery in revenue. - FY2021-Q1First statedAnnual report
「In light of these circumstances, we have made accounting estimates, including the application of impairment accounting for fixed assets and the recoverability of deferred tax assets, on the assumption that COVID-19 will move toward containment and that revenue will gradually recover through the end of the fiscal year ending February 2021. There is a possibility that future operating results will differ from these estimates and assumptions.」
Assuming that COVID-19 will be brought under control and that revenue will recover, we estimated impairment of fixed assets and the recoverability of deferred tax assets, and disclosed for the first time, as a separate item, the possibility that future operating results may differ from the assumptions as an accounting uncertainty.