Risk of Changes to Customs and International Tax Systems
First written in FY2017. 3 of 17 entries say "Worsened", first in FY2020-Q1. Latest entry: FY2026.
Nitta Gelatin moved to the "Worse" side of this theme in 2018, 8 years before the typical company in this theme (2026).
The whole theme swung hardest in 2018: 3 of 12 companies on the "Worse" side.
6 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 250 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The Indian subsidiary's contingent liabilities decreased from INR 253 million in the previous fiscal year to INR 250 million. The objections and the status of the tax authorities' appeal remain ongoing. - FY2025WorsenedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 253 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures. The amount also includes INR 181 million (approximately ¥318 million) relating to a matter on which the Indian Customs, Excise and Service Tax Appellate Tribunal (CESTAT) had issued a ruling, but which the tax authorities appealed in October 2024.」
The Indian subsidiary's contingent liabilities increased from INR 54 million at the end of the previous fiscal year to INR 253 million, and the tax authorities' appeal concerning INR 181 million was also disclosed. - FY2025-H1WorsenedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 234 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures. The amount also includes INR 181 million (approximately ¥311 million) relating to a matter on which the Indian Customs, Excise and Service Tax Appellate Tribunal (CESTAT) had issued a ruling, but which the tax authorities appealed in October 2024.」
The Indian subsidiary's contingent liabilities increased from INR 54 million at the end of the previous consolidated fiscal year to INR 234 million, and the tax authorities' appeal concerning INR 181 million was also disclosed. - FY2024-Q3Update to the contingent liability amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 257 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures.」
The Indian subsidiary's contingent liabilities were updated to INR 257 million (approximately ¥439 million), and the company continues to file objections based on the opinions of external experts. - FY2024-Q2Update to the contingent liability amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 257 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures.」
The Indian subsidiary's contingent liabilities were updated to INR 257 million (approximately ¥462 million). The company continues to file objections based on the opinions of external experts. - FY2024-Q1Update to the contingent liability amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 257 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The contingent liabilities of the Indian subsidiary based on differences of opinion with the tax authorities were updated to INR 257 million (approximately ¥454 million), and the company continues to file objections and take other measures. - FY2023-Q3Update to the yen-converted amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 245 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The contingent liabilities were INR 245 million, unchanged from the previous quarter, while the yen-converted amount was updated to approximately ¥393 million. The company continues to file objections and take other measures. - FY2023-Q2Update to the contingent liability amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 245 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures. At present, it is difficult to reasonably estimate the likelihood or amount of any resulting loss.」
The contingent liabilities were updated from INR 243 million in the previous quarter to INR 245 million. However, they remain below the INR 319 million recorded at the end of the previous consolidated fiscal year, and the company continues to file objections. - FY2023-Q1MitigatedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 243 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures.」
The Indian subsidiary's contingent liabilities decreased from INR 319 million (approximately ¥517 million) at the end of the previous consolidated fiscal year to INR 243 million (approximately ¥422 million). The company continues to file objections. - FY2022-Q3Update to the yen-converted amount of contingent liabilitiesAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 386 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The contingent liabilities were INR 386 million, unchanged from the end of the previous fiscal year, while the yen-converted amount was updated to approximately ¥599 million. The company continues to file objections and take other measures. - FY2022-Q1Update to the yen-converted amount of contingent liabilitiesAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 386 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The contingent liabilities were INR 386 million, unchanged from the end of the previous fiscal year, while the yen-converted amount was updated to approximately ¥575 million. The company continues to file objections. - FY2021Update to the contingent liability amountAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 386 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The Indian subsidiary's contingent liabilities based on differences of opinion with the tax authorities were updated to INR 386 million (approximately ¥583 million), and the company continues to file objections. - FY2021-Q1RestatedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 387 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures. At present, it is difficult to reasonably estimate the likelihood or amount of any resulting loss.」
The contingent liabilities of the Indian subsidiary based on differences of opinion with the tax authorities amount to INR 387 million, and the company continues to file objections based on the opinions of external experts. - FY2020-Q1WorsenedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 383 million, including claims for payment based on differences of opinion with the tax authorities, have arisen. After reviewing each claim based on the opinions of external legal experts, we determined that our position was reasonable and have filed objections and taken other measures. At present, it is difficult to reasonably estimate the likelihood or amount of any resulting loss.」
The Indian subsidiary's contingent liabilities increased from INR 380 million at the end of the previous consolidated fiscal year to INR 383 million. The yen-converted amount was approximately ¥598 million due to foreign exchange movements, and the company continues to file objections. - FY2019-Q3Update to the yen-converted amount of contingent liabilitiesAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 329 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
The contingent liabilities based on differences of opinion with the tax authorities remained at INR 329 million, while the yen-converted amount was updated to approximately ¥520 million. The company continues to file objections. - FY2018MaterialisedAnnual report
「At ニッタゼラチンインディアLtd., our consolidated subsidiary in India, contingent liabilities totaling INR 329 million, including claims for payment based on differences of opinion with the tax authorities, have arisen.」
With respect to the risk of additional taxation resulting from differences of opinion with the tax authorities, contingent liabilities including claims for payment have actually arisen at the Indian subsidiary, which has filed objections and taken other measures. - FY2017First statedAnnual report
「In Japan, a 17% customs duty is imposed when gelatin other than photographic gelatin is imported from overseas. However, the selling prices of imported products may decline in the future as customs duties are reduced or eliminated. We are also paying close attention to international tax risks, including the transfer pricing rules applicable in each country, but additional taxation may ultimately arise if our views differ from those of the tax authorities.」
The impact on price competition from reductions or the elimination of customs duties on imported gelatin, and additional taxation resulting from differences of opinion with the tax authorities concerning transfer pricing rules and other matters, were identified as new risks.