Changes in Accounting Standards and Tax Rules
First written in FY2016. 5 of 19 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2021: 1 of 7 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2026Addition of an accounting standard not yet appliedAnnual report
「The Accounting Standard for Leases and related standards will be adopted from the beginning of the fiscal year ending March 2028.」
In addition to the lease accounting standards and related standards, the company disclosed that the accounting standards and related standards concerning subsequent events are also scheduled to be adopted from the beginning of the fiscal year ending March 2028, and that it is evaluating the impact. - FY2026-H1AdvancedAnnual report
「The group has applied Paragraph 7 of the Practical Solution on Accounting and Disclosure for Corporate Income Taxes Related to the Global Minimum Tax System (ASBJ Practical Issues Task Force No. 46, 22 March 2024), and has not recognised corporate income taxes or other taxes related to the international minimum tax amount for the applicable fiscal year, including the current interim consolidated accounting period.」
It has applied the accounting and disclosure treatment for the global minimum tax regime and has not recognized corporate taxes and other taxes relating to the top-up tax for the relevant fiscal year. - FY2025-H1AdvancedAnnual report
「The Company has applied, from the beginning of the current interim consolidated accounting period, the Accounting Standard for Accounting for Income Taxes, Resident Taxes and Business Taxes, etc. (ASBJ Statement No. 27, 28 October 2022; hereinafter, the “2022 amended accounting standard”) and related standards.」
The 2022 amended accounting standards and related standards that had been scheduled for adoption in the previous fiscal year were adopted from the beginning of the current interim consolidated accounting period. The company stated that there was no impact. - FY2024Update on accounting standards not yet adoptedAnnual report
「The Accounting Standard for Accounting and Disclosure of Income Taxes, Inhabitant Taxes and Enterprise Taxes and related standards will be adopted from the beginning of the fiscal year ending March 2025.」
Regarding changes in accounting standards and tax laws, the company disclosed that standards concerning the classification of income tax expense and other matters are scheduled to be adopted from the beginning of the fiscal year ending March 2025, and that it is evaluating the impact. - FY2023Update on the adoption and non-adoption of accounting standardsAnnual report
「The company and certain domestic consolidated subsidiaries have applied the group tax sharing system from the current consolidated fiscal year. In accordance with the Practical Solution on Accounting and Disclosure under the Group Tax Sharing System (ASBJ Practical Issues Task Force No. 42, 12 August 2021), they have conducted the accounting treatment and disclosures for corporate income taxes and local corporate taxes, as well as the related tax effect accounting.」
The group tax sharing system was adopted from the current fiscal year. In addition, the company disclosed accounting standards related to tax effects that are scheduled to be adopted from the fiscal year ending March 2025. - FY2023-Q2RestatedAnnual report
「The company adopted the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the "Fair Value Measurement Guidance") from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment specified in Paragraph 27-2 of the Fair Value Measurement Guidance, the company will apply prospectively the new accounting policies prescribed by the guidance. There was no impact on the quarterly consolidated financial statements.」
Regarding the Fair Value Measurement Guidance adopted from the first quarter, the company stated that it continued to apply the guidance and that there was no impact on the quarterly consolidated financial statements. - FY2023-Q1AdvancedAnnual report
「The company adopted the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the "Fair Value Measurement Guidance") from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment specified in Paragraph 27-2 of the Fair Value Measurement Guidance, the company will apply prospectively the new accounting policies prescribed by the guidance. There was no impact on the quarterly consolidated financial statements.」
The company adopted the Fair Value Measurement Guidance from the beginning of the first quarter of the current consolidated fiscal year. From the same period, it also transitioned from the consolidated taxation system to the group tax sharing system and applied the related accounting treatment and disclosures. - FY2022Update to the full-year impact of adopting the revenue recognition standardAnnual report
「As a result, for the current consolidated fiscal year, net sales decreased by ¥23,824 million, cost of sales by ¥11,064 million, and selling, general and administrative expenses by ¥13,043 million.」
Regarding the revenue recognition accounting standard adopted from the beginning of fiscal 2021, the company disclosed the full-year presentation impact. It stated that there was no impact on profit before income taxes for the fiscal year or retained earnings at the beginning of the period. - FY2022-Q3Update to the cumulative nine-month impact of adopting the revenue recognition standardAnnual report
「As a result, for the nine-month period of the current consolidated fiscal year, net sales decreased by ¥18,500 million, cost of sales by ¥8,857 million, and selling, general and administrative expenses by ¥9,799 million.」
Regarding the revenue recognition accounting standard adopted from the first quarter, the company disclosed the cumulative nine-month impact of adoption, consisting of decreases of ¥18,500 million in net sales, ¥8,857 million in cost of sales, and ¥9,799 million in selling, general and administrative expenses. It stated that there was no impact on quarterly profit before income taxes or retained earnings at the beginning of the period. - FY2022-Q2Update on the impact of adopting the revenue recognition standardAnnual report
「As a result, for the six-month period of the current consolidated fiscal year, net sales decreased by ¥13,007 million, cost of sales by ¥6,759 million, and selling, general and administrative expenses by ¥6,315 million.」
Regarding the revenue recognition accounting standard adopted from the first quarter, the company updated the cumulative first-half impact on net sales, cost of sales, and selling, general and administrative expenses. It stated that there was no impact on quarterly profit before income taxes or retained earnings at the beginning of the period. - FY2022-Q1AdvancedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised at the amount expected to be received in exchange for the promised goods or services when control of those goods or services is transferred to the customer.」
The revenue recognition accounting standards that had been scheduled for adoption through the previous fiscal year were adopted from 1 April 2021. As a result, quarterly net sales decreased by ¥6,478 million, cost of sales by ¥3,510 million, and selling, general and administrative expenses by ¥3,009 million, while there was no impact on quarterly profit before income taxes or retained earnings at the beginning of the period. - FY2021Specification of standards scheduled for adoptionAnnual report
「The Accounting Standard for Revenue Recognition and related standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022.」
The company disclosed that the revenue recognition standard and fair value measurement standard were scheduled to be adopted from the beginning of the fiscal year ending March 2022, together with the impact of adoption. - FY2021-Q3RestatedAnnual report
「The company and certain domestic consolidated subsidiaries have applied the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), without applying the provisions of Paragraph 44, pursuant to Paragraph 3 of the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System (ASBJ Practical Issues Task Force No. 39, 31 March 2020), with respect to the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and items for which the single-company taxation system was revised in connection with that transition. Accordingly, the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of tax law before the amendments.」
The company continues to disclose the application of tax effect accounting accompanying the transition to the group tax sharing system, with no change from the previous quarter. - FY2021-Q2RestatedAnnual report
「The company and certain domestic consolidated subsidiaries have applied the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), without applying the provisions of Paragraph 44, pursuant to Paragraph 3 of the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System (ASBJ Practical Issues Task Force No. 39, 31 March 2020), with respect to the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and items for which the single-company taxation system was revised in connection with that transition. Accordingly, the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of tax law before the amendments.」
The company continues to disclose the application of tax effect accounting accompanying the transition to the group tax sharing system, with no change from the previous quarter. - FY2021-Q1Details of accounting treatment accompanying the transition to the group tax sharing systemAnnual report
「The company and certain domestic consolidated subsidiaries have applied the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), without applying the provisions of Paragraph 44, pursuant to Paragraph 3 of the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System (ASBJ Practical Issues Task Force No. 39, 31 March 2020), with respect to the transition to the group tax sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020) and items for which the single-company taxation system was revised in connection with that transition. Accordingly, the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of tax law before the amendments.」
Regarding changes in accounting standards and tax laws, the company disclosed the specific application of tax effect accounting accompanying the transition to the group tax sharing system. - FY2020Specification of standards scheduled for adoptionAnnual report
「The Accounting Standard for Revenue Recognition and related standards are scheduled to be adopted from the beginning of the fiscal year ending March 2022. The Accounting Standard for Disclosure of Accounting Estimates and the Accounting Standard for Disclosure of Accounting Policies, Accounting Changes and Corrections of Errors will be adopted from the fiscal year-end for the fiscal year ending March 2021.」
Regarding risks associated with changes in accounting standards and tax laws, the company disclosed specific adoption dates for standards concerning revenue recognition, fair value measurement and disclosure of accounting estimates, among others. - FY2018RestatedAnnual report
「Future changes in accounting standards may affect the operating results, financial position and business activities of the group. The same may apply if tax laws and other relevant legislation in Japan or other countries are amended.」
The company continues to disclose the risk of changes in accounting standards, tax laws and other regulations. - FY2017RestatedAnnual report
「Future changes in accounting standards may affect the operating results, financial position and business activities of the group. The same may apply if tax laws or other relevant legislation are amended.」
The company reiterates the risk that changes in accounting standards, tax laws and other regulations may affect its operating results, financial position and business activities. - FY2016First statedAnnual report
「Future changes in accounting standards may affect the operating results, financial position and business activities of the group.」
The company cites the impact of harmonisation with international standards and tax reforms.