Tax-effect accounting following the transition to the group tax consolidation system

「The company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first quarter. Accordingly, the accounting and disclosure treatment for corporation tax, local corporation tax and tax effect accounting is conducted in accordance with Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (ASBJ PITF No. 42, 12 August 2021, hereinafter “ASBJ PITF No. 42”).」

「The Company and certain domestic consolidated subsidiaries transitioned from the consolidated tax payment system to the group tax-sharing system from the first quarter.」

「The Company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax-sharing system from the beginning of the first quarter of the current fiscal year.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions, pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have not applied the provisions of paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System, and have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions.」

「For the transition to the Group Taxation System established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and for items subject to revisions to the single-entity taxation system in connection with that transition, the company and certain consolidated subsidiaries have measured deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the revisions, in accordance with paragraph 3 of the Practical Response Report No. 39, Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Taxation System (31 March 2020).」