Change in Tax Expense Calculation Method to the Estimated Effective Tax Rate Method
First written in FY2021-Q1. 2 of 3 entries say "Restated". Latest entry: FY2024-Q3.
79 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「For tax expenses, we estimate on a reasonable basis the effective tax rate after applying tax-effect accounting to income before income taxes for the consolidated fiscal year that includes the consolidated accounting period for the third quarter under review, and calculate quarterly income taxes by multiplying income before income taxes for the quarter by that estimated effective tax rate.」
The company continues to calculate tax expenses using the estimated effective tax rate. - FY2022-Q1RestatedAnnual report
「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year that includes the current first quarter and multiplying pretax quarterly income by that estimated effective tax rate.」
The company continues to calculate tax expenses using the estimated effective tax rate. - FY2021-Q1First statedAnnual report
「Previously, tax expenses for the company and its consolidated subsidiaries were calculated using the standard method. However, to further improve the efficiency of quarterly financial reporting by the company and its consolidated subsidiaries, from the first quarter of the current consolidated fiscal year, the method has been changed to calculate tax expense by reasonably estimating the effective tax rate, after applying tax-effect accounting, to income before income taxes for the consolidated fiscal year, and multiplying quarterly income before income taxes by that estimated effective tax rate.」
To improve the efficiency of quarterly closing procedures, the company changed the method of calculating tax expenses from the standard method to a method using the estimated effective tax rate. The impact was immaterial, and no retrospective application was made.