Change in accounting estimate assumptions in light of the prolonged impact of COVID-19
First written in FY2021-Q2. 2 of 5 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2026: 4 of 8 companies on the "Worse" side.
6 other companies' latest entry also says "Softened".
- FY2022SoftenedAnnual report
「Our group continues to prepare its accounting estimates for fiscal 2022 based on the assumption that COVID-19 will have no significant impact.」
The accounting assumption regarding the impact of the pandemic continues to be based on the outlook that there will be no material impact in fiscal 2022. - FY2022-Q3RestatedAnnual report
「There were no material changes during the nine months ended 31 December to the accounting estimates concerning the impact of the spread of COVID-19.」
The company has reconfirmed that there were no material changes from the previous quarter to the accounting estimates concerning the impact of COVID-19. - FY2021ReframedAnnual report
「Our group has prepared its accounting estimates based on the assumption that COVID-19 will have no significant impact in fiscal 2021.」
The accounting estimate assumption has been changed from one under which the impact of COVID-19 would continue through the end of fiscal 2020 to one under which there would be no material impact in fiscal 2021. - FY2021-Q3RestatedAnnual report
「There have been no material changes to this assumption since the end of the second quarter of the consolidated accounting period.」
The accounting estimate assumption that the impact of COVID-19 would continue to recover slowly through the end of fiscal 2020 has remained unchanged since the end of the second quarter. - FY2021-Q2First statedAnnual report
「Following the spread of COVID-19, the Group had prepared its accounting estimates based on the assumption that, although it would be affected by the stagnation of economic activity caused by lockdowns and restrictions on going out in various cities during the first quarter of the consolidated accounting period (April–June 2020), the economy would gradually recover from the second quarter of the consolidated accounting period (July–September 2020), with the impact disappearing from the third quarter of the consolidated accounting period onward. However, at the end of the second quarter of the consolidated accounting period, after reconsidering the future impact of the pandemic based on available information and other factors, the Group changed its assumption to one under which the global economy would continue to recover gradually from the third quarter of the consolidated accounting period (October–December 2020) onward, but at a slow pace, with this trend continuing through the end of fiscal 2020.」
The assumptions used for accounting estimates were changed from the expectation that the impact of COVID-19 would disappear from the third quarter onward to one under which a slow recovery would continue through the end of fiscal 2020. The revised assumptions were used to assess the recoverability of deferred tax assets and impairment of goodwill and fixed assets, but the company states that there was no impact on the quarterly consolidated financial statements.