Lower Recoverability of Deferred Tax Assets Due to Deteriorating Results
First written in FY2020. 4 of 9 entries say "Restated". Latest entry: FY2026.
Pegasus moved to the "Worse" side of this theme in 2024, the same year as the typical company in this theme.
The whole theme swung hardest in 2026: 12 of 16 companies on the "Worse" side.
10 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The valuation allowance increased by ¥164.430 million.」
The valuation allowance increased by ¥164 million in connection with impairment losses and tax loss carryforwards, among other items, increasing the valuation burden related to the recoverability of deferred tax assets. - FY2025WorsenedAnnual report
「The valuation allowance increased by ¥93.346 million. This was mainly due to a ¥40.873 million increase in the valuation allowance related to the write-down of components and a ¥59.966 million increase in the valuation allowance related to the valuation difference on other securities, among other factors.」
The valuation allowance increased by ¥93 million, increasing the valuation burden related to the recoverability of deferred tax assets. Meanwhile, total deferred tax assets amounted to ¥374 million. - FY2024WorsenedAnnual report
「The valuation allowance increased by ¥402.899 million. This was mainly due to a ¥220.060 million increase in the valuation allowance related to the elimination of unrealised gains on inventories at the company and an ¥87.634 million increase in the valuation allowance related to tax loss carryforwards at consolidated subsidiary PEGASUS SEWING MACHINE PTE.LTD., among other factors.」
The valuation allowance related to the recoverability of deferred tax assets increased by ¥402 million, and tax loss carryforwards also increased. - FY2022MitigatedAnnual report
「The valuation allowance decreased by ¥316.068 million. This was mainly due to a ¥189.303 million decrease in the valuation allowance related to tax loss carryforwards at the company, among other factors.」
The valuation allowance decreased by ¥316 million against the backdrop of recovering performance, and deferred tax assets increased from ¥64 million in the previous fiscal year to ¥188 million. This indicates that concerns regarding the recoverability of deferred tax assets have partially eased. - FY2021RestatedAnnual report
「Our corporate group makes accounting estimates, including the recoverability of deferred tax assets, when preparing the consolidated financial statements, based on the assumption that demand will begin to recover from the following consolidated fiscal year onward, taking into account information available at the time.」
The company is assessing the recoverability of deferred tax assets based on the assumption that demand will begin to recover from the following consolidated fiscal year onward. - FY2021-Q3RestatedAnnual report
「As stated in the annual securities report for the previous fiscal year, our corporate group assumes that the impact of COVID-19 will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. There were no material changes to this assumption during the cumulative third quarter of the current consolidated fiscal year.」
The company maintains its performance assumption that the impact of the pandemic will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. - FY2021-Q2RestatedAnnual report
「As stated in the annual securities report for the previous fiscal year, our group assumes that the impact of COVID-19 will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. There were no material changes to this assumption during the cumulative second quarter of the current consolidated fiscal year.」
The company maintains its performance assumption that the impact of the pandemic will continue for the full fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. - FY2021-Q1RestatedAnnual report
「As stated in the annual securities report for the previous fiscal year, our group assumes that the impact of COVID-19 will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. There were no material changes to this assumption during the cumulative first quarter of the current consolidated fiscal year.」
The company maintains its performance assumption that the impact of the pandemic will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. - FY2020First statedAnnual report
「The company assumes that the impact of the spread of COVID-19 will continue throughout the fiscal year ending March 2021 and that recovery will occur in the fiscal year ending March 2022. After carefully reviewing this assumption and taking into account the effects of US-China trade friction and the slowdown in the Chinese economy, it recognised a valuation allowance of ¥728.865 million against deferred tax assets.」
Based on performance assumptions reflecting the pandemic, US-China trade friction and the slowdown in the Chinese economy, the company recognised a ¥728 million valuation allowance against deferred tax assets.