Deferred Tax Asset Recoverability Risk
First written in FY2020. 10 of 12 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2024: 9 of 21 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The recoverability of deferred tax assets is assessed by reasonably estimating taxable income, taking into account tax planning and the schedule for the reversal of future taxable temporary differences and other items. The Group recognizes that the amount of deferred tax assets recorded by the Company is material and uses the Group's next management plan in estimating taxable income.」
The evaluation of recoverability continues to use taxable income estimates based on the next management plan, tax planning and the schedule for the reversal of future taxable temporary differences. - FY2024RestatedAnnual report
「The recoverability of deferred tax assets is assessed by reasonably estimating taxable income over the five-year period for which estimates can be made, taking into account tax planning and the schedule for the reversal of future taxable temporary differences.」
The policy of assessing the recoverability of ¥695 million in deferred tax assets based on taxable income over five years, the next management plan, past performance and market conditions was reconfirmed. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The disclosure states that there have been no material changes in the major business and other risks, including the recoverability of deferred tax assets. - FY2023-Q3RestatedAnnual report
「Regarding the impact of COVID-19 on the Group, demand, particularly for food-related products, which was significantly affected, is expected to recover gradually as the outbreak subsides. Accounting estimates have been prepared on the assumption that demand will gradually return to pre-pandemic levels over the five-year period for which estimates can be made. There have been no material changes to the assumptions underlying the accounting estimates made at the end of the previous consolidated fiscal year.」
The recoverability of deferred tax assets continues to be based on the assumption that demand for food-related products will gradually return to pre-pandemic levels over the five-year period for which estimates can be made, with no material changes from the previous fiscal year-end. - FY2023-Q2RestatedAnnual report
「Regarding the impact of COVID-19 on the Group, demand, particularly for food-related products, which was significantly affected, is expected to recover gradually as the outbreak subsides. Accounting estimates have been prepared on the assumption that demand will gradually return to pre-pandemic levels over the five-year period for which estimates can be made. There have been no material changes to the assumptions underlying the accounting estimates made at the end of the previous consolidated fiscal year.」
The recoverability of deferred tax assets continues to be based on the assumption that demand for food-related products will gradually return to pre-pandemic levels over five years, with no material changes from the previous fiscal year-end. - FY2023-Q1RestatedAnnual report
「Regarding the impact of COVID-19 on the Group, demand, particularly for food-related products, which was significantly affected, is expected to recover gradually as the outbreak subsides. Accounting estimates have been prepared on the assumption that demand will gradually return to pre-pandemic levels over the five-year period for which estimates can be made. There have been no material changes to the assumptions underlying the accounting estimates made at the end of the previous consolidated fiscal year.」
The recoverability of deferred tax assets continues to be based on the assumption that demand for food-related products will gradually return to pre-pandemic levels over five years, with no material changes from the previous fiscal year-end. - FY2022-Q3RestatedAnnual report
「Regarding the impact of COVID-19 on the Group, demand, particularly for food-related products, which was significantly affected, is expected to recover gradually as the outbreak subsides through measures such as vaccination. Accounting estimates have been prepared on the assumption that demand will gradually return to pre-pandemic levels over the five-year period for which estimates can be made.」
The recoverability of deferred tax assets continues to be based on the assumption that demand for food-related products will gradually return to pre-pandemic levels over the five-year period for which estimates can be made. There have been no material changes to the assumptions at the end of the previous fiscal year. - FY2022-Q1SoftenedAnnual report
「Regarding the impact of COVID-19 on the Group, demand, particularly for food-related products, which was significantly affected, is expected to recover gradually as the outbreak subsides through measures such as vaccination. Accounting estimates have been prepared on the assumption that demand will gradually return to pre-pandemic levels over the five-year period for which estimates can be made.」
The recoverability of deferred tax assets is based on the assumption that demand for food-related products will gradually recover to pre-pandemic levels over the five-year period for which estimates can be made. Compared with the previous fiscal year-end assumption that demand would recover from the following consolidated fiscal year, the assumed timing of the recovery has been extended and made more gradual. - FY2021RestatedAnnual report
「The recoverability of deferred tax assets is assessed by reasonably estimating taxable income over the five-year period for which estimates can be made, taking into account tax planning and the schedule for the reversal of future taxable temporary differences.」
The recoverability of ¥552 million in deferred tax assets is assessed based on estimates of taxable income over five years, the medium-term management plan, market conditions and the status of COVID-19. - FY2021-Q2RestatedAnnual report
「Accounting estimates have been prepared on the assumption that demand will return from the following consolidated fiscal year to a level comparable to that of the previous consolidated fiscal year before the spread of COVID-19. There have been no material changes to the assumptions underlying the accounting estimates made at the end of the previous consolidated fiscal year.」
The evaluation of deferred tax asset recoverability continues to be based on an assumed decline in demand due to COVID-19 and a recovery to pre-pandemic levels from the following consolidated fiscal year. - FY2021-Q1RestatedAnnual report
「In evaluating the recoverability of deferred tax assets, the Group has prepared accounting estimates based on the assumption that, although demand is expected to decline in the current consolidated fiscal year compared with the previous consolidated fiscal year due to the spread of COVID-19, it will gradually recover as the outbreak subsides toward the end of the fiscal year, returning from the following consolidated fiscal year to a level comparable to that of the previous consolidated fiscal year before the spread of COVID-19. There have been no material changes to the assumptions underlying the accounting estimates made at the end of the previous consolidated fiscal year.」
The evaluation of deferred tax asset recoverability has been reconfirmed based on an assumed decline in demand due to COVID-19 followed by a recovery. There have been no material changes to the assumptions underlying the estimates at the end of the previous fiscal year. - FY2020First statedAnnual report
「If it is determined that some or all of the deferred tax assets cannot be recovered because future taxable income falls below the estimated amount, the deferred tax assets will be written down and tax expenses will be recognized, which could affect the Group's financial position and operating results.」
The recoverability of deferred tax assets relating to tax loss carryforwards and other items was explicitly identified as a new financial and accounting risk. The disclosure states that the assets may be written down if the effects of COVID-19 persist.