Accounting Estimates Reflecting the Impact of COVID-19
First written in FY2021-Q3. 1 of 5 entries say "Restated". Latest entry: FY2023-Q3.
Toyo Asano Foundation moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
3 other companies' latest entry also says "Softened".
- FY2023-Q3SoftenedAnnual report
「The Group makes accounting estimates based on information available up to the preparation of the consolidated financial statements, assuming that economic conditions will move toward recovery toward the fiscal year-end, but that their impact on business performance will continue for a certain period. However, the impact of the spread of COVID-19 remains highly uncertain, and further spread may affect these accounting estimates.」
The wording regarding the timing of economic recovery was generalized from the previous "from the third quarter onward toward the fiscal year-end" to "toward the fiscal year-end," removing the specific starting point of the third quarter onward. The assumption and uncertainty that the impact of COVID-19 will continue for a certain period were maintained. - FY2023-Q2WorsenedAnnual report
「The Group makes accounting estimates based on information available up to the preparation of the consolidated financial statements, assuming that economic conditions will move toward recovery from the third quarter onward toward the fiscal year-end, but that their impact on business performance will continue for a certain period. However, the impact of the spread of COVID-19 remains highly uncertain, and further spread may affect these accounting estimates.」
The expected timing of economic recovery was pushed back from the previous "from the second quarter onward" to "from the third quarter onward," while the assumption that the impact on business performance will continue for a certain period was maintained. - FY2022-Q1ReframedAnnual report
「The Group makes accounting estimates based on information available up to the preparation of the consolidated financial statements, assuming that economic conditions will move toward recovery from the second quarter onward toward the fiscal year-end, but that their impact on business performance will continue for a certain period. However, the impact of the spread of COVID-19 remains highly uncertain, and further spread may affect these accounting estimates.」
While maintaining the assumption that the impact of COVID-19 will continue for a certain period, the company has added to its accounting estimates the timeline that economic conditions will recover from the second quarter onward toward the fiscal year-end. - FY2021RestatedAnnual report
「The Group makes accounting estimates, including the recoverability of deferred tax assets, based on information available when preparing the consolidated financial statements. Although COVID-19 has not had a material impact on the Group's results of operations or financial position at present, it may have a material impact depending on developments going forward, and the Group will continue to monitor the situation closely.」
The company continues to disclose the uncertainty that COVID-19 may affect accounting estimates, while stating that it has not had a material impact on results of operations or financial position at present. - FY2021-Q3First statedAnnual report
「The Group makes accounting estimates, including impairment accounting for fixed assets, based on information available up to the preparation of the consolidated financial statements, assuming that economic conditions will move toward recovery but that their impact on business performance will continue for a certain period. However, the impact of the spread of COVID-19 remains highly uncertain, and further spread may affect these accounting estimates.」
The Group makes estimates, including impairment accounting for fixed assets, based on the assumption that the impact of COVID-19 will continue for a certain period. It newly states that the impact of further spread is highly uncertain and may affect accounting estimates.