Assumed recovery in business performance from the effects of COVID-19 by March 2021
First written in FY2021-Q1. 5 of 10 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2023: 3 of 36 companies on the "Worse" side.
39 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described in the significant accounting estimates section of the annual securities report for the previous consolidated fiscal year.」
It was stated that there had been no material changes from the previous fiscal year in the assumptions underlying accounting estimates concerning the effects of the infection. - FY2023-Q3RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described in the significant accounting estimates section of the annual securities report for the previous consolidated fiscal year.」
It was stated that there had been no material changes from the previous consolidated fiscal year in the assumptions underlying accounting estimates concerning the effects of COVID-19. - FY2023-Q2RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described in the significant accounting estimates section of the annual securities report for the previous consolidated fiscal year.」
It was stated that there had been no material changes from the previous consolidated fiscal year in the assumptions underlying accounting estimates concerning the effects of COVID-19. - FY2023-Q1RestatedAnnual report
「There has been no material change in the assumptions concerning the impact of COVID-19 described in the significant accounting estimates section of the annual securities report for the previous consolidated fiscal year.」
It was stated that there had been no material changes from the previous consolidated fiscal year in the assumptions underlying accounting estimates concerning the effects of COVID-19. - FY2022SoftenedAnnual report
「Undiscounted future cash flows are estimated by forecasting future performance based on the assumption that conditions will return to pre-pandemic levels in the following consolidated fiscal year and that those levels will be maintained, while taking into account the effects of investment plans, including store renovations.」
The accounting estimate was based on the assumption that performance would return to pre-pandemic levels in the following consolidated fiscal year and remain at those levels. - FY2022-Q3SoftenedAnnual report
「In Japan, it had been assumed that conditions would return to pre-pandemic levels in January 2022. However, after taking into account the effects of recent COVID-19 variants and other factors, estimates such as the recoverability of deferred tax assets are being made based on the assumption that conditions will return to pre-pandemic levels by the end of the consolidated fiscal year and that those levels will be maintained.」
The assumed timing of Japan's recovery to pre-pandemic performance levels was postponed from January 2022 to the end of the consolidated fiscal year. The assumption of recovery in the United States in April 2022 was maintained. - FY2022-Q1RestatedAnnual report
「In Japan, estimates such as the recoverability of deferred tax assets are being made based on the assumption that conditions would return to pre-pandemic levels in January 2022 and that those levels would be maintained. In the United States as well, estimates such as the recoverability of deferred tax assets are being made based on the assumption that conditions would return to pre-pandemic levels in April 2022 and that those levels would be maintained. There have been no changes from the assumptions used in the estimates at the end of the previous consolidated fiscal year.」
The assumptions that conditions would return to pre-pandemic levels in January 2022 in Japan and April 2022 in the United States were maintained, with no changes from the end of the previous fiscal year. - FY2021-Q3SoftenedAnnual report
「In Japan, estimates such as the recoverability of deferred tax assets had been made based on the assumption that conditions would return to pre-pandemic levels in March 2021. However, after taking into account trends in the number of new infections during the first nine months of the fiscal year, the assumption was changed in January 2022 to one that conditions would return to pre-pandemic levels, and estimates such as the recoverability of deferred tax assets are being made on that basis. In the United States as well, estimates such as the recoverability of deferred tax assets had been made based on the assumption that conditions would return to pre-pandemic levels in March 2021. However, after taking into account trends in the number of new infections during the first nine months of the fiscal year and the fact that reported new infections were higher than in Japan, the assumption was changed in April 2022 to one that conditions would return to pre-pandemic levels, and estimates such as the recoverability of deferred tax assets and impairment losses are being made on that basis.」
The assumed timing of the return to pre-pandemic conditions was postponed from March 2021 to January 2022 in Japan and from March 2021 to April 2022 in the United States. As of December 2020, sales were approximately 70% of the same month of the previous year in Japan and 40%–50% at reopened stores in the United States. - FY2021-Q2AdvancedAnnual report
「We made estimates, including the recoverability of deferred tax assets, based on the assumption that performance would recover gradually after operations resumed and return to pre-COVID-19 levels by March 2021. As of September 2020, sales had recovered to approximately 80% of the sales in the same month of the previous year. In the United States, most stores operated by our US subsidiaries were temporarily closed from mid-March 2020 due to the spread of COVID-19, and 14 stores were temporarily closed as of the end of the second quarter of the fiscal year. Our policy is to resume operations in stages if requests from state and county governments are eased. We made estimates, including the recoverability of deferred tax assets, based on the assumption that performance would recover gradually after operations resumed and return to pre-COVID-19 levels by March 2021. As of September 2020, sales at reopened stores had recovered to approximately 50% to 60% of the sales in the same month of the previous year.」
The assumption that conditions would return to pre-pandemic levels in March 2021 remained unchanged. It stated that, as of September, domestic sales had recovered to approximately 80% of the same month of the previous year, while sales at reopened stores in the United States had recovered to 50%–60%. - FY2021-Q1First statedAnnual report
「We made estimates, including the recoverability of deferred tax assets, based on the assumption that performance would recover gradually after operations resumed and return to pre-COVID-19 levels by March 2021.」
Used the assumption of a return to pre-pandemic conditions by March 2021 in accounting estimates, including the recoverability of deferred tax assets. This was an estimation assumption presented by the company, not an explicit management target.