Accounting Estimates Reflecting the Impact of COVID-19
First written in FY2020-Q2. 2 of 5 entries say "Softened", first in FY2020-Q3. Latest entry: FY2021.
Phil Company moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
3 other companies' latest entry also says "Softened".
- FY2021SoftenedAnnual report
「The Company has made estimates based on the assumption that COVID-19 will continue to alternate between periods of spread and temporary respite and that it will take time to bring the outbreak under control, but judged that there was no material impact at this point.」
The Company assumed continued spread of the infection and a prolonged period before containment, while stating that there was currently no material impact on its accounting estimates. - FY2021-Q2RestatedAnnual report
「There have been no material changes since the previous consolidated fiscal year in the assumptions for accounting estimates related to the impact of COVID-19 described in the “Additional Information” section of the previous fiscal year’s annual securities report.」
The Company reaffirmed that there had been no material changes since the previous consolidated fiscal year in the assumptions for accounting estimates made in light of the impact of COVID-19. - FY2021-Q1RestatedAnnual report
「There have been no material changes since the previous consolidated fiscal year in the assumptions for accounting estimates related to the impact of COVID-19 described in the “Additional Information” section of the previous fiscal year’s annual securities report.」
The Company stated that there had been no material changes since the previous consolidated fiscal year in the assumptions for accounting estimates made in light of the impact of COVID-19. - FY2020-Q3SoftenedAnnual report
「The Company made estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that contract-ordering activity would gradually recover by the end of the fiscal year ending November 2021 despite the impact of the infectious disease.」
The assumption was changed from recovery by the end of the current consolidated fiscal year, as stated in the previous quarter, to recovery in contract-ordering activity by the end of the fiscal year ending November 2021. The timing of the end of the infectious disease remains uncertain, and the Company also described the potential impact if the assumption is no longer considered likely. - FY2020-Q2First statedAnnual report
「Although the effects of requests to refrain from going out are expected to continue for the time being even after the nationwide lifting of the state of emergency, the Company has made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that conditions will improve and recover by the end of the consolidated fiscal year.」
The Company estimated impairment of fixed assets and the recoverability of deferred tax assets based on the assumption that the effects of the infectious disease would recover by the end of the consolidated fiscal year.