Furukawa Electric (5801) · FactAdvanced
Finalization of the Refund of Brazilian Social Contribution Payments
First written in FY2022-Q1. 1 of 3 entries say "Advanced", first in FY2022. Latest entry: FY2022.
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- FY2022AdvancedAnnual report
「Refund of prior-year social contributions 2,722」
A refund of overpaid social contributions and corresponding interest totaling ¥2,722 million at the Brazilian subsidiary was recognized as extraordinary income for the fiscal year. - FY2022-Q2Recognized a refund of social contributions of ¥1,695 millionAnnual report
「Refund of prior-year social contributions 1,695」
Following final judgments in favor of the Brazilian subsidiary in some cases concerning claims for refunds of social contributions, overpaid social contributions and corresponding interest totaling ¥1,695 million were recognized as extraordinary income. - FY2022-Q1First statedAnnual report
「Furukawa Electric LatAm S.A. (hereinafter “FEL”), a consolidated subsidiary of the Company in Brazil, had been involved in litigation seeking a refund of social contributions (PIS/COFINS) paid by companies in Brazil. Following final judgments in favor of FEL in some cases and a ruling by the Federal Supreme Court of Brazil concerning the tax base, FEL recognized as profit the overpaid social contributions and the corresponding interest.」
Following final judgments in favor of the Brazilian consolidated subsidiary in some cases concerning claims for refunds of social contributions, the overpaid social contributions and corresponding interest were recognized as extraordinary income.