Recoverability of Deferred Tax Assets Based on Assumptions About Iron Scrap Prices and the Impact of COVID-19
First written in FY2021. 9 of 12 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2026: 5 of 23 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「There were no material changes to the descriptions of the accounting estimates and the assumptions used in those estimates in the section "Management's Analysis of Financial Position, Operating Results and Cash Flows" of the securities report for the previous fiscal year.」
The company stated that there had been no material changes in the accounting estimates and assumptions concerning the recoverability of deferred tax assets, based on steel scrap prices, selling prices, the impact of infectious diseases and other factors. - FY2025RestatedAnnual report
「The group operates in a market-sensitive industry that is susceptible to economic fluctuations, and prices of its main raw materials, including steel scrap, ferroalloys and energy, may fluctuate significantly in response to international demand for steel products, economic conditions and geopolitical risks.」
The company continues to base its assumptions regarding the recoverability of deferred tax assets on forecasts of market fluctuations in steel scrap, other material and energy prices and product selling prices limited to the one-year period of the following fiscal year. - FY2024RestatedAnnual report
「The group operates in a market-sensitive industry that is susceptible to economic fluctuations, and prices of its main raw materials, including steel scrap, ferroalloys and energy, may fluctuate significantly in response to international demand for steel products, economic conditions and geopolitical risks.」
The company continues to forecast raw material and energy prices, product selling prices and other factors for only the one-year period of the following fiscal year when assessing the recoverability of deferred tax assets. - FY2024-Q2RestatedAnnual report
「There were no material changes to the descriptions of the accounting estimates and the assumptions used in those estimates in the section "Management's Analysis of Financial Position, Operating Results and Cash Flows" of the securities report for the previous fiscal year.」
The company stated that there had been no material changes in the accounting estimates and assumptions concerning the recoverability of deferred tax assets, based on steel scrap prices, selling prices, the impact of infectious diseases and other factors. - FY2024-Q1RestatedAnnual report
「There were no material changes to the descriptions of the accounting estimates and the assumptions used in those estimates in the section "Management's Analysis of Financial Position, Operating Results and Cash Flows" of the securities report for the previous fiscal year.」
The company stated that there had been no material changes in the accounting estimates and assumptions concerning the recoverability of deferred tax assets, based on steel scrap prices, selling prices, the impact of infectious diseases and other factors. - FY2023MitigatedAnnual report
「This was attributable to a decrease in the valuation allowance for tax loss carryforwards, as tax loss carryforwards were applied against taxable income during the current fiscal year and the recoverability of deferred tax assets was reassessed.」
The valuation allowance decreased as the company returned to profitability and applied tax loss carryforwards against taxable income, increasing net deferred tax assets from ¥2.475 million to ¥19.999 million. - FY2023-Q3RestatedAnnual report
「There were no material changes to the descriptions of the accounting estimates and the assumptions used in those estimates in the section "Management's Analysis of Financial Position, Operating Results and Cash Flows" of the securities report for the previous fiscal year.」
The company stated that there had been no material changes in the accounting estimates and assumptions based on steel scrap prices, selling prices, the impact of infectious diseases and other factors. - FY2023-Q1RestatedAnnual report
「There were no material changes to the descriptions of the accounting estimates and the assumptions used in those estimates in the section "Management's Analysis of Financial Position, Operating Results and Cash Flows" of the securities report for the previous fiscal year.」
The company stated that there had been no material changes in the accounting estimates and assumptions concerning the recoverability of deferred tax assets, based on steel scrap prices, selling prices, the impact of infectious diseases and other factors. - FY2022WorsenedAnnual report
「Amounts recorded in the consolidated financial statements for the current fiscal year: Deferred tax assets ¥248.961 million ¥2.475 million」
The company limited its forecast of market fluctuations in steel scrap and other material prices and selling prices to the one-year period of the following fiscal year and determined that deferred tax assets with a recovery schedule exceeding one year were unrecoverable. As a result, net deferred tax assets decreased significantly from ¥248.961 million to ¥2.475 million. - FY2022-Q3RestatedAnnual report
「Based on information currently available to the group, there have been no material changes from the disclosures in the previous fiscal year’s annual securities report under “Material Accounting Estimates” in the assumptions concerning the future spread and containment timing of COVID-19 and other matters.」
The company reconfirmed that there had been no material changes from the previous fiscal year in the assumptions underlying accounting estimates related to the recoverability of deferred tax assets and other matters, including the spread and containment timing of the infectious disease. - FY2022-Q1RestatedAnnual report
「Based on information currently available to the group, there have been no material changes from the disclosures in the previous fiscal year’s annual securities report under “Material Accounting Estimates” in the assumptions concerning the future spread and containment timing of COVID-19 and other matters.」
The company reconfirmed that there had been no material changes from the previous fiscal year in the assumptions underlying accounting estimates, including the spread and containment timing of the infectious disease. - FY2021First statedAnnual report
「The company calculates taxable income based on future earnings capacity under assumptions that steel scrap prices, which have remained at high levels, will gradually decline toward the second half of the fiscal year ending March 2022 and that demand for steel products will improve as the COVID-19 pandemic is brought under control, and assesses the recoverability of deferred tax assets.」
The company newly disclosed, as a key risk and accounting estimate, that the recoverability of deferred tax assets is based on the key assumptions of declining steel scrap prices and recovering demand for steel products as the infectious disease is brought under control.