Recoverability risk for deferred tax assets
First written in FY2016. 2 of 6 entries say "Restated". Latest entry: FY2026.
S.Ishimitsu& moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).
The whole theme swung hardest in 2020: 20 of 62 companies on the "Worse" side.
72 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Based on our experience to date, we recognize the likelihood of this risk leading to a serious situation as low and the impact as low. We will continue to manage it carefully and work to prevent unforeseen events.」
The company discloses its policy of continuing to manage the recoverability risk of deferred tax assets, assessed as low likelihood and low impact. - FY2021SoftenedAnnual report
「Based on our experience to date, we recognize the likelihood of this risk leading to a serious situation as low and the impact as low.」
The possibility that deferred tax assets could decline due to prolonged or intensified COVID-19 had been disclosed previously, but this year the likelihood of occurrence was assessed as low and the impact as low. - FY2021-Q3WorsenedAnnual report
「The spread of COVID-19 and the resulting stagnation in economic activity are expected to continue affecting our Group's performance at least through the fiscal year ending March 2022. These assumptions involve significant uncertainty, and if the impact of the spread of COVID-19 continues for an extended period or becomes more severe, our Group's performance may fluctuate accordingly and deferred tax assets may decline.」
The company added the assumption that the impact of COVID-19 would continue at least through the fiscal year ending March 2022 and explicitly disclosed the uncertainty that prolonged or intensified effects could reduce deferred tax assets. - FY2021-Q1WorsenedAnnual report
「These assumptions involve significant uncertainty. If the impact of the spread of COVID-19 continues for an extended period or becomes more severe, our Group's performance may fluctuate accordingly and deferred tax assets may decline.」
The company additionally indicates that prolonged or intensified COVID-19 could cause performance to fluctuate and deferred tax assets to decline. - FY2019RestatedAnnual report
「If significant changes occur in estimates of future taxable income or other factors, tax expenses may be recognized through the reversal of deferred tax assets, which may affect our Group's financial position and operating results.」
The recoverability risk of deferred tax assets continues to be disclosed as before. - FY2016First statedAnnual report
「If significant changes occur in estimates of future taxable income or other factors, tax expenses may be recognized through the reversal of deferred tax assets, which may affect our Group's performance.」
The risk of reversing deferred tax assets due to changes in estimated future taxable income is recognized.