Uncertainty in Estimates of Deferred Tax Assets and Fixed Asset Impairment Related to COVID-19
First written in FY2021-Q1. 7 of 13 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
65 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual reportThe annual report contains no specific assumptions regarding estimates of deferred tax assets and impairment based on the impact of COVID-19.
- FY2023SoftenedAnnual report
「The Company assumes that COVID-19 will have no impact on its business from the following consolidated fiscal year onward. However, there are many uncertainties regarding when the pandemic will subside and other matters, and changes in the circumstances surrounding the Group could affect its financial position and operating results from the following consolidated fiscal year onward.」
The disclosure has changed from the previous accounting assumption that the impact of COVID-19 would continue into the following fiscal year and beyond to an assumption that there will be no impact. However, the possibility remains that changes in circumstances could affect the estimates. - FY2023-Q3RestatedAnnual report
「During the third quarter of the current consolidated fiscal year, the Company made no material changes to the assumptions regarding the impact of COVID-19 used to prepare the consolidated financial statements for the previous consolidated fiscal year.」
It has reconfirmed that the accounting assumptions regarding the impact of COVID-19 remain unchanged from the previous fiscal year. - FY2023-Q2RestatedAnnual report
「During the second quarter of the current consolidated fiscal year, the Company made no material changes to the assumptions regarding the impact of COVID-19 used to prepare the consolidated financial statements for the previous consolidated fiscal year.」
It has reconfirmed that there have been no material changes from the previous fiscal year in the accounting assumptions regarding the impact of COVID-19. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, the Company made no material changes to the assumptions regarding the impact of COVID-19 used to prepare the consolidated financial statements for the previous consolidated fiscal year.」
It has reconfirmed that there have been no material changes from the previous fiscal year in the accounting assumptions regarding the impact of COVID-19. - FY2022SoftenedAnnual report
「The Company is making accounting estimates, including the impairment of fixed assets and the recoverability of deferred tax assets, on the assumption that the impact on economic activity caused by COVID-19 will gradually subside and personal consumption will recover.」
The assumption has changed from expecting the previous fiscal year's decline in sales to continue through the first half of the following fiscal year, and from expecting a full recovery to be difficult in the second half of the current fiscal year, to assuming that the impact will gradually subside and personal consumption will recover. - FY2022-Q3RestatedAnnual report
「When preparing the consolidated financial statements for the previous consolidated fiscal year, the Company estimated the impairment of fixed assets, the recoverability of deferred tax assets and other accounting estimates on the assumption that the impact of lower sales due to the spread of COVID-19 would continue through the first half of the current consolidated fiscal year. However, as the state of emergency was extended through the end of September and the easing of measures in each prefecture was to be implemented in stages even after the declaration was lifted, the Company is making accounting estimates, including the impairment of fixed assets and the recoverability of deferred tax assets, on the assumption that a full recovery in sales will be difficult even in the second half of the current consolidated fiscal year.」
The Company continues to make estimates based on the changed assumption that a full recovery in sales will be difficult in the second half of the current fiscal year, rather than the previous assumption that the impact would continue through the first half of the previous fiscal year. - FY2022-Q2WorsenedAnnual report
「When preparing the consolidated financial statements for the previous consolidated fiscal year, the Company estimated the impairment of fixed assets, the recoverability of deferred tax assets and other accounting estimates on the assumption that the impact of lower sales due to the spread of COVID-19 would continue through the first half of the current consolidated fiscal year. However, as the state of emergency was extended through the end of September and the easing of measures in each prefecture was to be implemented in stages even after the declaration was lifted, the Company is making accounting estimates, including the impairment of fixed assets and the recoverability of deferred tax assets, on the assumption that a full recovery in sales will be difficult even in the second half of the current consolidated fiscal year.」
The previous assumption that the impact would continue through the first half of the current fiscal year has changed to an assumption that a full recovery in sales will be difficult in the second half of the current fiscal year, increasing uncertainty in the accounting estimates. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, we made no material changes to the assumptions regarding the impact of COVID-19 used in preparing the consolidated financial statements for the previous consolidated fiscal year.」
States that there have been no material changes from the previous fiscal year to the accounting assumptions concerning the impact of COVID-19. - FY2021WorsenedAnnual report
「In preparing the consolidated financial statements, we made accounting estimates concerning impairment losses on fixed assets and the recoverability of deferred tax assets based on the assumption that the impact of lower revenue resulting from the spread of COVID-19 would continue through the first half of the following consolidated fiscal year.」
The assumption changed from a recovery in results by the previous quarter to an expectation that the impact of lower revenue would continue through the first half of the following consolidated fiscal year, and the uncertainty of the estimates was explicitly stated. - FY2021-Q3RestatedAnnual report
「Following the lifting of the state of emergency on 25 May, we prepared accounting estimates concerning the recoverability of deferred tax assets and impairment losses on fixed assets related to stores based on the assumption that results would gradually recover from June onward.」
The estimates of deferred tax asset recoverability and impairment losses on store fixed assets based on the assumption of a recovery in results from June onward continued. - FY2021-Q2RestatedAnnual report
「Following the lifting of the state of emergency on 25 May, we prepared accounting estimates concerning the recoverability of deferred tax assets and impairment losses on fixed assets related to stores based on the assumption that results would gradually recover from June onward.」
The estimates of deferred tax asset recoverability and impairment losses on store fixed assets based on the assumption of a recovery in results from June onward, as stated in the previous quarter, continued. - FY2021-Q1First statedAnnual report
「Following the lifting of the state of emergency on 25 May, we prepared accounting estimates concerning the recoverability of deferred tax assets and impairment losses on fixed assets related to stores based on the assumption that results would gradually recover from June onward. However, actual future results may differ from these estimates and assumptions.」
Based on the assumption of a recovery in results after COVID-19, it estimated the recoverability of deferred tax assets and impairment losses on store fixed assets, and described the possibility that future actual results may differ from the assumptions as a new risk.