Risk of deferred tax asset reversal due to a resurgence of COVID-19
First written in FY2021-Q1. 5 of 7 entries say "Restated". Latest entry: FY2023-Q1.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
103 other companies' latest entry also says "Restated".
- FY2023-Q1RestatedAnnual report
「The company assumes that the impact will continue for a certain period extending at least through the fiscal year ending March 2023. However, if the spread or severity of COVID-19 worsens and social and economic activity is restricted, additional impairment losses on property, plant and equipment and reversals of deferred tax assets may arise.」
The company has reaffirmed the accounting assumption that the impact of the infectious disease will continue for a certain period during the fiscal year ending March 2023, as well as the risk of reversal of deferred tax assets if conditions worsen. - FY2022-Q3RestatedAnnual report
「Our group has been affected by COVID-19, primarily in the food-service sector, but we expect the impact to be limited. As a result, no material deviation has arisen from the assumptions, including the extent and duration of the impact of COVID-19, described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The company has reaffirmed its assumption that the impact of the infectious disease will be limited and its explanation that there is no material deviation from the previous fiscal year's accounting estimates. - FY2022-Q2Limited expected impact and additional risks presented togetherAnnual report
「Our group has been affected by COVID-19, primarily in the food-service sector, but we expect the impact to be limited. We also assume that the impact will continue for a certain period at least during the fiscal year ending March 2022. However, if the spread or impact of COVID-19 becomes more severe and social and economic activity is restricted, additional impairment losses on fixed assets and the reversal of deferred tax assets could occur.」
While expecting the impact of the infectious disease to be limited, the company assumes that it will continue for a certain period during the fiscal year ending March 2022 and presents the risks of impairment losses and reversal of deferred tax assets if conditions worsen. - FY2022-Q1RestatedAnnual report
「The company assumes that the impact will continue for a certain period extending at least through the fiscal year ending March 2022. However, if the spread or severity of COVID-19 worsens and social and economic activity is restricted, additional impairment losses on property, plant and equipment and reversals of deferred tax assets may arise.」
The company has reaffirmed its accounting assumption that the impact of the infectious disease will continue for a certain period during the fiscal year ending March 2022, as well as the risk of additional impairment losses on fixed assets and reversal of deferred tax assets if social and economic activity is restricted. - FY2021-Q3RestatedAnnual report
「As a result, no material deviation has arisen from the assumptions, including the extent and duration of the impact of COVID-19, described under “Additional Information” and “Accounting Estimates” in the annual securities report for the previous consolidated fiscal year. We also assume that the impact will continue for a certain period at least during the fiscal year ending March 2021. However, if the spread or impact of COVID-19 becomes more severe and social and economic activity is restricted, additional impairment losses on fixed assets and the reversal of deferred tax assets could occur.」
While stating that there is no material deviation from the previous fiscal year's assumptions regarding the estimated impact of the infectious disease, the company has reaffirmed the assumption that the impact will continue and the risk of reversal of deferred tax assets if conditions worsen. - FY2021-Q2RestatedAnnual report
「However, as the performance of our group has also been showing a recovery trend since October, we expect full-year revenue to recover to a year-on-year decline of no more than 10% in our consolidated earnings forecast, assuming that economic activity will gradually improve from the third quarter onward.」
Although the timing of the end of the infectious disease impact remains unforeseeable, earnings are being estimated on the assumption of a recovery trend from October and improved economic activity from the third quarter onward. - FY2021-Q1First statedAnnual report
「If the spread or impact of COVID-19 becomes more severe, a state of emergency could be declared again and social and economic activity could be restricted, potentially resulting in additional impairment losses on fixed assets and the reversal of deferred tax assets.」
For the first time, the company has explicitly stated that the reversal of deferred tax assets could occur if the infectious disease worsens and social and economic activity is restricted.