Write-down of deferred tax assets in light of the situation in Ukraine

「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」

「At the end of the current consolidated fiscal year, the recoverability of deferred tax assets was considered based on accounting estimates concerning the impact of the situation in Ukraine, and the assets were recognized to the extent that future taxable income was considered likely to arise.」

「In estimating the accounting impact of the situation in Ukraine, we reviewed from the second-quarter accounting period the assumptions described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year, taking the latest developments into account. After carefully considering the recoverability of deferred tax assets, we reversed the deferred tax assets.」