Deferred Tax Impact of the U.S. Federal Corporate Tax Rate Reduction
First written in FY2018-Q3. 2 of 4 entries say "Restated". Latest entry: FY2019-Q3.
3 other companies' latest entry also says "Restated".
- FY2019-Q3RestatedAnnual report
「Profit for the quarter attributable to owners of the parent declined 26.6% year on year to ¥56.5 billion, due to the decrease in profit before tax and the one-time reduction in corporate income tax expense in the previous year resulting from the remeasurement of deferred tax assets and deferred tax liabilities following US tax reform.」
The company continues to cite the one-time reduction in corporate income tax expense in the previous year resulting from US tax reform as a comparison factor. - FY2019-Q2RestatedAnnual report
「Profit for the quarter attributable to owners of the parent declined 16.3% year on year to ¥34.5 billion, as the decrease in profit before tax outweighed the reduction in corporate income tax expense resulting from the US tax reform and the federal corporate tax rate reduction.」
The company continues to describe the reduction in corporate income tax expense resulting from the US federal corporate tax rate reduction, but profit for the quarter attributable to owners of the parent declined 16.3% year on year due to the decrease in profit before tax. - FY2018AdvancedAnnual report
「Deferred tax expense for the consolidated fiscal year includes the impact of the enactment of this tax reform legislation, including a ¥16,223 million decrease in corporate income tax expense resulting from the remeasurement of deferred tax assets and deferred tax liabilities following the reduction in the federal corporate tax rate.」
The company definitively disclosed a full-year ¥16,223 million decrease in corporate income tax expense resulting from the remeasurement of deferred tax assets and deferred tax liabilities following the US federal corporate tax rate reduction. - FY2018-Q3First statedAnnual report
「In the United States, on 22 December 2017 (local date), tax reform legislation was enacted, centered on reducing the federal corporate tax rate from 35% to 21% effective 1 January 2018. During the three-month consolidated accounting period ended 31 December 2017, the company recognized the impact of this legislation, including a ¥14,688 million decrease in income taxes and other adjustments resulting from the remeasurement of deferred tax assets and deferred tax liabilities following the reduction in the federal corporate tax rate.」
Following enactment of US tax reform legislation, the federal corporate tax rate was reduced from 35% to 21%, and the company recognized a ¥14,688 million decrease in income taxes and other adjustments during the three-month consolidated accounting period ended 31 December 2017, resulting from the remeasurement of deferred tax assets and deferred tax liabilities.