Recoverability Risk for Deferred Tax Assets
First written in FY2018. 2 of 5 entries say "Restated". Latest entry: FY2021-Q3.
Festaria Holdings 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 2020: 20 of 62 companies on the "Worse" side.
11 other companies' latest entry also says "Materialised".
- FY2021-Q3MaterialisedAnnual report
「In addition, following a careful review of the recoverability of deferred tax assets in light of business trends and other factors, the company recognised ¥64 million in income taxes—current and deferred during the nine-month consolidated accounting period, due in part to the reversal of a portion of its deferred tax assets.」
Regarding the risk associated with the recoverability of deferred tax assets, an additional partial reversal occurred, and the company recognised ¥64 million in income taxes—current and deferred. - FY2021-Q2MaterialisedAnnual report
「Following a careful review of the recoverability of deferred tax assets, the company recognised ¥28 million in income taxes—current and deferred during the second-quarter consolidated accounting period, due in part to the reversal of a portion of its deferred tax assets.」
Regarding the risk associated with the recoverability of deferred tax assets, the company actually reversed a portion of them and recognised ¥28 million in income taxes—current and deferred. - FY2020-Q3RestatedAnnual report
「Based on information available as of the end of the third-quarter accounting period, the company assumed that performance would gradually recover from June and that, from the following consolidated fiscal year onward, it would broadly return to the level before the spread of the infectious disease. This assumption has been reflected in accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets.」
The company reflected its assumption regarding the recovery of performance in light of the impact of COVID-19 in accounting estimates for impairment of fixed assets and the recoverability of deferred tax assets. - FY2019RestatedAnnual report
「If the company determines that recovery of deferred tax assets is unlikely, it estimates the amount expected to be unrecoverable and recognises a valuation allowance, which may have a negative impact on profit or loss.」
The company continues to monitor the risk concerning the recoverability of deferred tax assets and the impact of valuation allowances on profit or loss. - FY2018First statedAnnual report
「If the company determines that recovery of deferred tax assets is unlikely, it estimates the amount expected to be unrecoverable and recognises a valuation allowance, which may have a negative impact on profit or loss.」
The company stated that if recovery of deferred tax assets based on future earnings capacity is unlikely, recognising a valuation allowance may have a negative impact on profit or loss.