Change in Tax Expense Calculation Method Based on Estimated Effective Tax Rate
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
79 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year including the third quarter of the current consolidated fiscal year, and multiplying profit before income taxes for the quarter by that estimated effective tax rate.」
The company has continued to calculate quarterly income taxes using the estimated effective tax rate. - FY2022-Q1First statedAnnual report
「Previously, income taxes were calculated using the standard method. To further improve the efficiency of the Group's quarterly closing process, from the first quarter of the current consolidated fiscal year we have changed to a method under which the effective tax rate, after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year, is reasonably estimated and applied to profit or loss before income taxes for the quarter.」
To improve the efficiency of quarterly reporting, the company changed its method of calculating tax expense from the beginning of the first quarter of the current consolidated fiscal year to one using the estimated effective tax rate.