Review of Deferred Tax Asset Recoverability and Reversal of Valuation Allowance
First written in FY2017. 5 of 18 entries say "Mitigated", first in FY2024-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2020: 3 of 12 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The valuation allowance decreased by ¥171,446 thousand. This was mainly because the valuation allowance related to tax loss carryforwards decreased by ¥188,605 thousand following the merger with Michael Co., Ltd., formerly a consolidated subsidiary.」
The valuation allowance decreased following the merger with Michael Co., Ltd., and net deferred tax assets increased from ¥2,599 thousand to ¥114,775 thousand. Income tax adjustments were a profit factor of ¥126,958 thousand. - FY2026-H1MitigatedAnnual report
「Income tax adjustments 33,510 negative 146,587」
Income tax adjustments shifted from an expense of ¥33,510 thousand in the previous year's corresponding period to a profit factor of ¥146,587 thousand in the current six-month consolidated accounting period. This was one of the factors behind the increase in interim net income attributable to owners of the parent. - FY2024MitigatedAnnual report
「Income tax adjustments amounted to ¥72,350 thousand.」
Income tax adjustments decreased from ¥72,350 thousand in the previous fiscal year to ¥8,711 thousand, reducing the expense burden related to deferred tax assets from the previous year. - FY2024-Q3MitigatedAnnual report
「Income tax adjustments 84,397 37,168」
Income tax adjustments decreased from ¥84,397 thousand in the previous year's corresponding period to ¥37,168 thousand, reducing the expense burden associated with the deferred tax asset review year on year. - FY2024-Q1MitigatedAnnual report
「Income tax adjustments 47,732 22,513」
Income tax adjustments decreased from ¥47,732 thousand in the previous year's corresponding period to ¥22,513 thousand. Expenses continued to be recognized, but the burden was lower year on year. - FY2023Expense recognition for income tax adjustments expanded for the full fiscal yearAnnual report
「Income tax adjustments amounted to ¥72,350 thousand.」
The previous year's corresponding period recorded an income tax adjustment of negative ¥11,237 thousand, a profit factor, whereas the current fiscal year recorded an expense of ¥72,350 thousand. - FY2023-Q3Expense recognition for income tax adjustments continued and increasedAnnual report
「Income tax adjustments 84,397」
Income tax adjustments increased from ¥34,022 thousand in the previous year's corresponding period to ¥84,397 thousand, with expense recognition continuing and expanding rather than the deferred tax asset recoverability review serving as a profit factor. - FY2023-Q2Expense recognition for income tax adjustments increasedAnnual report
「Income tax adjustments 20,912 73,108」
Income tax adjustments increased from ¥20,912 thousand in the previous year's corresponding period to ¥73,108 thousand, with expense recognition continuing and expanding rather than the deferred tax asset review serving as a profit factor. - FY2022-Q3Expense recognition for income tax adjustments continuedAnnual report
「Income tax adjustments 34,022」
Compared with the income tax adjustment of negative ¥95,978 thousand, a profit factor, in the previous year's corresponding period, the cumulative third quarter recorded an expense of ¥34,022 thousand. - FY2022-Q2RestatedAnnual report
「Income tax adjustments 20,912」
Unlike the previous year's corresponding period, when a review of the recoverability of deferred tax assets was a profit factor, the cumulative second quarter recorded an income tax adjustment of ¥20,912 thousand as an expense. - FY2022-Q1Income tax adjustments shifted from a profit factor to an expenseAnnual report
「Income tax adjustments 35,877」
The previous year's first quarter included an income tax adjustment of negative ¥83,327 thousand following a review of the recoverability of deferred tax assets, whereas the current first quarter recorded an expense of ¥35,877 thousand. - FY2021Deferred tax assets increased, making income tax adjustments a profit factorAnnual report
「Following a review of the recoverability of the company's deferred tax assets, the company recorded an income tax adjustment of negative ¥88,108 thousand (negative indicates a benefit), resulting in net income attributable to owners of the parent of ¥464,633 thousand, compared with ¥104,058 thousand in the previous consolidated fiscal year.」
The company recorded an income tax adjustment of negative ¥88,108 thousand following a review of the recoverability of deferred tax assets, and net deferred tax assets increased from ¥46,217 thousand to ¥168,995 thousand. - FY2021-Q3The profit impact of the deferred tax asset review increasedAnnual report
「Following a review of the recoverability of the company's deferred tax assets, the company recorded an income tax adjustment of negative ¥95,978 thousand (negative indicates a benefit), resulting in quarterly net income attributable to owners of the parent of ¥552,190 thousand, up 122.2% year on year.」
The profit impact of the deferred tax asset recoverability review increased from negative ¥94,127 thousand in the cumulative period of the previous quarter to negative ¥95,978 thousand. - FY2021-Q2The profit impact of the deferred tax asset review increasedAnnual report
「The company recorded ¥170,404 thousand in income taxes, inhabitant taxes and enterprise taxes, while recording an income tax adjustment of negative ¥94,127 thousand (negative indicates a benefit) following a review of the recoverability of its deferred tax assets. As a result, quarterly net income attributable to owners of the parent was ¥366,456 thousand, up 162.6% year on year.」
The company recorded an income tax adjustment of negative ¥94,127 thousand following a review of the recoverability of deferred tax assets, contributing to the increase in quarterly net income attributable to owners of the parent. - FY2021-Q1Profit increased following a review of the recoverability of deferred tax assetsAnnual report
「Following a review of the recoverability of the company's deferred tax assets, the company recorded an income tax adjustment of negative ¥83,327 thousand (negative indicates a benefit), resulting in quarterly net income attributable to owners of the parent of ¥124,268 thousand, up 62.5% year on year.」
The recording of an income tax adjustment of negative ¥83,327 thousand following a review of the recoverability of deferred tax assets resulted in a 62.5% increase in quarterly net income attributable to owners of the parent, despite the decreases in operating income and ordinary income. - FY2020Increase in the valuation allowanceAnnual report
「The valuation allowance increased by ¥87,093 thousand. This was mainly because an additional valuation allowance was recognized in connection with the increase in the asset adjustment account.」
The valuation allowance increased by ¥87,093 thousand, reversing the decrease in the previous fiscal year, and net deferred tax assets decreased from ¥50,385 thousand to ¥46,217 thousand. - FY2019Valuation allowance decreasedAnnual report
「The valuation allowance decreased by ¥23,197 thousand. This was mainly because the company ceased to recognize a ¥13,521 thousand valuation allowance related to the asset adjustment account and a ¥9,156 thousand valuation allowance related to impairment losses on investment securities.」
Following a review of the recoverability of deferred tax assets, the valuation allowance decreased by ¥23,197 thousand, and net deferred tax assets increased from ¥39,992 thousand to ¥50,385 thousand. - FY2017First statedAnnual report
「Following a change in the company's classification for tax-effect accounting and a review of the recoverability of deferred tax assets going forward, the Company decided to write down part of its deferred tax assets, which contributed to an overall decrease in net income from the previous fiscal year.」
The partial reversal of deferred tax assets following a change in the company classification and a review of their recoverability was cited as a factor behind the decrease in net income.