Tax-effect accounting treatment accompanying the transition to the group tax sharing system
First written in FY2020. 7 of 10 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
104 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「The company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first quarter. Accordingly, the accounting and disclosure treatment for corporation tax, local corporation tax and tax effect accounting is conducted in accordance with Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (ASBJ PITF No. 42, 12 August 2021, hereinafter “ASBJ PITF No. 42”).」
The company continues the transition to the group tax sharing system implemented from the first quarter and the accounting and disclosures based on ASBJ PITF No. 42. - FY2023-Q2RestatedAnnual report
「The company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first quarter. Accordingly, the accounting and disclosure treatment for corporation tax, local corporation tax and tax effect accounting is conducted in accordance with Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (ASBJ PITF No. 42, 12 August 2021, hereinafter “ASBJ PITF No. 42”).」
The company continues the transition to the group tax sharing system implemented from the first quarter and the accounting and disclosures based on ASBJ PITF No. 42. - FY2023-Q1AchievedAnnual report
「The Company and certain domestic consolidated subsidiaries transitioned from the consolidated taxation system to the group tax sharing system from the beginning of the first quarter of the current consolidated fiscal year. Accordingly, accounting and disclosure for corporate and local taxes and tax effect accounting comply with the “Implementation Guidance on Accounting and Disclosure under the Group Tax Sharing System” (ASBJ Practical Issues Task Force Report No. 42, 12 August 2021).」
The company implemented the transition to the group tax sharing system from the first quarter of the current consolidated fiscal year, rather than treating it as a future plan as in the previous fiscal year, and transitioned to accounting and disclosure based on Practical Solution Report No. 42. - FY2022AdvancedAnnual report
「Beginning at the start of the following consolidated fiscal year, the Company planned to apply the Practical Solution on Accounting and Disclosure under the Group Tax-Sharing System (Practical Solution Report No. 42, 12 August 2021), which prescribes accounting and disclosure treatments for corporate and local corporate taxes and tax-effect accounting when applying the group tax-sharing system.」
In connection with the transition to the group tax sharing system, the company explicitly stated that it plans to apply Practical Solution Report No. 42 from the beginning of the following consolidated fiscal year. - FY2022-Q3RestatedAnnual report
「The company and certain domestic consolidated subsidiaries, in relation 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 standalone taxation system was revised in conjunction with that transition, apply the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System.」
In connection with the transition to the group tax sharing system, the company continues to calculate deferred tax assets and liabilities based on the tax laws before amendment. - FY2022-Q1RestatedAnnual report
「For us and certain domestic consolidated subsidiaries, with respect to the transition to the group aggregation system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and the items for which the standalone tax system was revised in connection with that transition, the amounts of deferred tax assets and deferred tax liabilities are determined based on the provisions of the tax laws before amendment, in accordance with paragraph 3 of the Practical Response Report No. 39, “Treatment of Application of Tax Effect Accounting in Connection with the Transition from the Consolidated Taxation System to the Group Aggregation System” (31 March 2020), without applying the provisions of paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018).」
In connection with the transition to the group tax sharing system, the company reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before amendment. - FY2021-Q3RestatedAnnual report
「For us and certain domestic consolidated subsidiaries, with respect to the transition to the group aggregation system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and the items for which the standalone tax system was revised in connection with that transition, the amounts of deferred tax assets and deferred tax liabilities are determined based on the provisions of the tax laws before amendment, in accordance with paragraph 3 of the Practical Response Report No. 39, “Treatment of Application of Tax Effect Accounting in Connection with the Transition from the Consolidated Taxation System to the Group Aggregation System” (31 March 2020), without applying the provisions of paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018).」
In connection with the transition to the group tax sharing system, the company reconfirmed its treatment of calculating deferred tax assets and liabilities based on the tax laws before amendment. - FY2021-Q2RestatedAnnual report
「For us and certain domestic consolidated subsidiaries, with respect to the transition to the group aggregation system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and the items for which the standalone tax system was revised in connection with that transition, the amounts of deferred tax assets and deferred tax liabilities are determined based on the provisions of the tax laws before amendment, in accordance with paragraph 3 of the Practical Response Report No. 39, “Treatment of Application of Tax Effect Accounting in Connection with the Transition from the Consolidated Taxation System to the Group Aggregation System” (31 March 2020), without applying the provisions of paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018).」
In connection with the transition to the group tax sharing system, the company reconfirmed in its quarterly notes that deferred tax assets and liabilities are calculated based on the tax laws before amendment. - FY2021-Q1RestatedAnnual report
「For us and certain domestic consolidated subsidiaries, with respect to the transition to the group aggregation system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and the items for which the standalone tax system was revised in connection with that transition, the amounts of deferred tax assets and deferred tax liabilities are determined based on the provisions of the tax laws before amendment, in accordance with paragraph 3 of the Practical Response Report No. 39, “Treatment of Application of Tax Effect Accounting in Connection with the Transition from the Consolidated Taxation System to the Group Aggregation System” (31 March 2020), without applying the provisions of paragraph 44 of the Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018).」
In connection with the transition to the group tax sharing system, the company reconfirmed in its quarterly notes that deferred tax assets and liabilities are calculated based on the tax laws before amendment. - FY2020First statedAnnual report
「The company and certain consolidated subsidiaries apply the treatment under 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 (Practical Solution Report No. 39, 31 March 2020) to amounts of deferred tax assets and other items relating 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), as well as items for which the standalone taxation system was revised in conjunction with that transition, based on the provisions of the tax laws before amendment.」
The company disclosed for the first time the tax-effect accounting treatment associated with the transition to the group tax sharing system, calculating deferred tax assets and other items based on the tax laws before amendment.