Accounting Estimates Based on Assumptions Regarding COVID-19
First written in FY2021-Q2. 1 of 2 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
「Through the first quarter of the current consolidated fiscal year, the company had assumed that the impact of COVID-19 would subside by the second quarter. In light of the current order environment, however, it now assumes that demand will bottom out by approximately the fiscal year-end and return to previous levels.」
The company has reflected the impact of COVID-19 in its estimates for assessing the recoverability of deferred tax assets and impairment losses, and continues to assume that demand will bottom out by the fiscal year-end and return to previous levels. - FY2021-Q2First statedAnnual report
「The spread of COVID-19 is an event with a broad impact on the economy and corporate activities, and has affected the group's business activities as its principal customers, automobile manufacturers, have made production adjustments and taken other measures. Because it is difficult to predict when the spread of COVID-19 will subside, the company has made its best estimates in assessing the recoverability of deferred tax assets and impairment losses, based on available information for preparing the consolidated financial statements and on the assumption that the impact would continue for a certain period of the current consolidated fiscal year. Through the first quarter of the current consolidated fiscal year, the company had assumed that the impact of COVID-19 would subside by the second quarter. In light of the current order environment, however, it now assumes that demand will bottom out by approximately the fiscal year-end and return to previous levels.」
The company has reflected the impact of COVID-19 in its accounting estimates for assessing the recoverability of deferred tax assets and impairment losses. It revised its assumption through the first quarter that the impact would subside by the second quarter and now assumes that demand will bottom out by approximately the fiscal year-end.