Change to the estimated effective tax rate method for calculating quarterly income taxes

「Income taxes are calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year, including the current interim consolidated fiscal period, and multiplying pretax interim income by that estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year that includes the second quarter of the current consolidated fiscal year, and multiplying quarterly profit before income taxes by that estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year that includes the second quarter of the current consolidated fiscal year, and multiplying quarterly profit before income taxes by that estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate, after applying tax-effect accounting, to income before income taxes for the consolidated fiscal year including the first quarter of the current consolidated fiscal year, and multiplying quarterly income before income taxes by that estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate, after applying tax-effect accounting, to income before income taxes for the consolidated fiscal year including the third quarter of the current consolidated fiscal year, and multiplying quarterly income before income taxes by that estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate, after applying tax-effect accounting, on pretax income for the consolidated fiscal year that includes the second quarter, and multiplying pretax quarterly income by the estimated effective tax rate.」

「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year that includes the first quarter of the current fiscal year, and multiplying pretax quarterly income by that estimated effective tax rate.」

「Previously, income taxes were calculated using the same method as for the annual financial statements. From the first quarter of the current consolidated fiscal year, the Company changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates income taxes by multiplying pretax quarterly income by that estimated effective tax rate.」

「Previously, income taxes were calculated using the same method as for the annual financial statements. From the first quarter of the current consolidated fiscal year, the Company changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates income taxes by multiplying pretax quarterly income by that estimated effective tax rate.」

「Previously, income taxes were calculated using the same method as for the annual financial statements. From the first quarter of the current consolidated fiscal year, the Company changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates income taxes by multiplying pretax quarterly income by that estimated effective tax rate. This change was made, following the full consolidation of 美州興産株式会社 in the previous consolidated fiscal year, to accelerate and further improve the efficiency of the Group’s quarterly consolidated financial closing process from the current consolidated fiscal year.」