Reflection of COVID-19 Assumptions in Accounting Estimates
First written in FY2020. 3 of 5 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
- FY2021RestatedAnnual report
「The business plan was prepared based on the assumption that the impact of COVID-19 would gradually ease from the following consolidated fiscal year.」
Maintained the accounting assumption that the impact of the pandemic would gradually ease from the following consolidated fiscal year. - FY2021-Q3RestatedAnnual report
「There have been no material changes since the first quarter to the above assumptions. However, the Company Group’s operating results from the fourth quarter onward may be affected by further spread or prolongation of COVID-19.」
The Company reaffirmed that there had been no material changes to the accounting assumption that economic activity would not recover during the current consolidated fiscal year but would gradually recover in the following consolidated fiscal year. Meanwhile, it continued to indicate the possibility of an impact from the pandemic from the fourth quarter onward. - FY2021-Q2RestatedAnnual report
「There have been no material changes since the first quarter to the above assumptions. However, the Company Group’s operating results from the third quarter onward may be affected by further spread or prolongation of COVID-19.」
While maintaining the accounting assumption that economic recovery from the pandemic would begin in the following consolidated fiscal year, the Company reaffirmed the possibility that further spread or prolongation could affect operating results. - FY2021-Q1Recovery assumptions pushed backAnnual report
「The Company Group has reflected in its accounting the accounting estimates relating to the recoverability of deferred tax assets and impairment testing of property, plant and equipment, based on the assumption that economic activity would not recover during the current consolidated fiscal year but would gradually recover in the following consolidated fiscal year.」
The Company shifted the timing of recovery to the following consolidated fiscal year, no longer expecting recovery during the current consolidated fiscal year, compared with the previous fiscal year’s assumption that the pandemic would begin to subside in the first half of the following consolidated fiscal year and economic activity would recover from the second half onward. It also indicated the possibility that the impact of a second wave or other developments could expand and persist. - FY2020First statedAnnual report
「The Company Group has reflected in its accounting the accounting estimates relating to impairment testing of property, plant and equipment and the recoverability of deferred tax assets, based on the assumption that the pandemic would begin to subside in the first half of the following consolidated fiscal year and that economic activity would trend toward recovery from the second half onward.」
The Company disclosed for the first time that it had assumed the pandemic would subside and the economy recover, and reflected this in impairment testing for property, plant and equipment and estimates of the recoverability of deferred tax assets.