Reflecting the Impact of COVID-19 in Accounting Estimates
First written in FY2020. 2 of 4 entries say "Restated". Latest entry: FY2021-Q3.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
- FY2021-Q3RestatedAnnual report
「Regarding the impact of COVID-19, some of the industries served by the Group’s customers have remained firm or entered a recovery trend, while others remain sluggish. As the outlook remains uncertain, the Company has continued to prepare its accounting estimates without making any significant changes to the assumptions described in “Additional Information (Impact of COVID-19)” in the quarterly report for the six-month period ended the second quarter of the consolidated fiscal year.」
While some industries have shown signs of recovery, sluggish sectors and uncertainty over the outlook remain. Accordingly, the Company has maintained the assumptions stated in the second-quarter report when preparing its accounting estimates. - FY2021-Q2SoftenedAnnual report
「The quarterly report for the first quarter of the consolidated fiscal year stated under “Additional Information (Impact of COVID-19)” that, although the expected time for the spread of the infection to subside had been extended, the domestic and overseas economies were assumed to enter a recovery trend during the second quarter and to have largely recovered by the middle of the third quarter. However, in light of the impact of COVID-19 continuing beyond initial expectations, the Company has prepared its accounting estimates, including the valuation of inventories and the recognition of allowances for doubtful accounts, bonuses and deferred tax assets, based on the assumption that the impact would continue for a certain period of at least the current consolidated fiscal year.」
The assumption was changed from “the economy would enter a recovery trend during the second quarter and have largely recovered by the middle of the third quarter” to an assumption that the impact of the infection would continue for a certain period of at least the current consolidated fiscal year. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, although the expected time for the spread of COVID-19 to subside had been extended, there were no significant changes to the assumptions made at the end of the previous consolidated fiscal year that the domestic and overseas economies would enter a recovery trend during the second quarter and would have largely recovered by the middle of the third quarter.」
Although the Company assumed that the timing of the end of the spread of the infection had been delayed, it maintained the accounting assumptions made at the end of the previous fiscal year that the economy would enter a recovery trend during the second quarter and would have largely recovered by the middle of the third quarter. - FY2020First statedAnnual report
「The Group assumed that the spread of the infection would subside by the end of the first quarter, that domestic and overseas economies would begin to recover in the second quarter, and that they would largely recover by the middle of the third quarter. Based on these assumptions, it made accounting estimates for the fiscal year ending March 2020, including the valuation of inventories and the recognition of allowances for doubtful accounts, bonuses and deferred tax assets.」
Assumptions regarding the containment of the infection and the timing of economic recovery were reflected in accounting estimates for inventories, allowances for doubtful accounts and bonuses, and deferred tax assets.