Change in the Method for Calculating Quarterly Tax Expense

「The company's income tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to income before income taxes for the fiscal year including the current first quarter accounting period, and multiplying income before quarterly income taxes by the estimated effective tax rate.」

「We calculate income tax expense by reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the fiscal year including the interim accounting period, and multiplying interim profit before income taxes by that estimated effective tax rate.」

「Previously, we calculated income tax expense using the same method as for the annual financial statements. Beginning with the interim accounting period, we have changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to profit before income taxes for the fiscal year including the interim accounting period, and calculates income tax expense by multiplying interim profit before income taxes by that estimated effective tax rate. This change has no effect on the interim financial statements.」

「Previously, we calculated income tax expense using the same method as for the annual financial statements. To further streamline the financial reporting process, beginning with the first quarter of the current fiscal year, we have changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to profit before income taxes for the fiscal year, and calculates income tax expense by multiplying profit before income taxes for the quarter by that estimated effective tax rate. This change has no effect on the quarterly financial statements.」