Difficulty in Making Accounting Estimates Due to COVID-19 and Non-Recognition of Deferred Tax Assets
First written in FY2020. 7 of 12 entries say "Restated". Latest entry: FY2025.
Thermae-Yu Holdings moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).
67 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual report
「There are no accounting estimates that may have a material impact on the consolidated financial statements for the next consolidated fiscal year.」
The company no longer includes the previously reported specific disclosure regarding the difficulty of forecasting performance and estimating deferred tax assets due to COVID-19, and states that there are no material accounting estimates. - FY2025-H1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no material changes from the previous fiscal year's disclosures regarding the accounting estimates and assumptions. - FY2024-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no material changes from the previous fiscal year's disclosures regarding the accounting estimates and assumptions. - FY2023-Q3RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no material changes from the previous fiscal year's disclosures regarding the accounting estimates and assumptions. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no material changes from the previous fiscal year's disclosures regarding the accounting estimates and assumptions. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company reconfirmed that there had been no material changes from the previous fiscal year's disclosures regarding the accounting estimates and assumptions. - FY2022WorsenedAnnual report
「Under these circumstances, accounting estimates are based on the assumption that, although the impact of COVID-19 on the Group's businesses varies in nature and severity by business, the impact will generally recover by the first half of the fiscal year ending March 2023.」
The recovery assumption for the impact of the infection was pushed back from the previous assumption of recovery by around April 2022 to recovery by the first half of the fiscal year ending March 2023. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates described under “Management's Analysis of Financial Position, Operating Results and Cash Flows” in the securities report for the previous fiscal year.」
The company stated that there had been no material changes during the first quarter to the accounting estimates and assumptions described in the previous fiscal year. - FY2021RestatedAnnual report
「Under these circumstances, accounting estimates are based on the assumption that, although the impact of COVID-19 on the Group's businesses varies in nature and severity by business, the impact will generally recover by around April 2022.」
At the end of the fiscal year, the company continued to make accounting estimates using the assumption that the impact of the infection would generally recover by around April 2022. Deferred tax assets have not been recognized. - FY2021-Q3WorsenedAnnual report
「Although the impact of COVID-19 on the Group's businesses varies in nature and severity by business, accounting estimates are based on the assumption that the impact will generally recover by around April 2022. The company has changed some of the assumptions, including the expected timing of the end of the COVID-19 pandemic, from those presented in the annual securities report for the previous fiscal year, but the changes have no material impact on the quarterly consolidated financial statements.」
The assumption was changed from recovery by around April 2021 to recovery by around April 2022, delaying the expected recovery date. - FY2021-Q1Setting the assumption of recovery in April 2021Annual report
「Although the impact of COVID-19 on the Group's businesses varies in nature and severity by business, accounting estimates are based on the assumption that the impact will generally recover by around April 2021. There have been no material changes from the information presented in the annual securities report for the previous fiscal year.」
The company stated that it made accounting estimates based on the assumption that the impact of the infection would generally recover by around April 2021. - FY2020MaterialisedAnnual report
「Because the impact of COVID-19 made it difficult to forecast performance and other matters for the next consolidated fiscal year, it became difficult to make accounting estimates regarding the recoverability of deferred tax assets. Accordingly, deferred tax assets have not been recognized as of the end of the current consolidated fiscal year.」
The infection made it difficult to forecast performance for the following fiscal year and estimate the recoverability of deferred tax assets, resulting in the actual accounting treatment of not recognizing deferred tax assets.