Increase in Income Taxes Due to Derecognition of Deferred Tax Assets Following the U.S. Corporate Tax Rate Cut
First written in FY2018-Q2. . Latest entry: FY2018.
The whole theme swung hardest in 2018: 6 of 33 companies on the "Worse" side.
7 other companies' latest entry also says "Other".
- FY2018Continued decline in net profit due to higher tax expenseAnnual report
「Although income before income taxes increased, profit attributable to owners of the parent fell by ¥71 million, or 9.5%, from the previous consolidated fiscal year to ¥679 million, due mainly to an increase in income tax adjustments resulting from the reversal of deferred tax assets at a subsidiary following the reduction in the U.S. corporate tax rate.」
The reversal of deferred tax assets following the reduction in the U.S. corporate tax rate and the resulting increase in income tax adjustments remained factors in the decline in net income for the full year. - FY2018-Q3Continued decline in net profit due to higher tax expenseAnnual report
「Profit attributable to owners of the parent was ¥279 million, down 40.0% year on year, due mainly to an increase in income taxes and other taxes resulting from the reversal of deferred tax assets at a subsidiary following the reduction in the U.S. corporate tax rate.」
The reversal of deferred tax assets following the reduction in the U.S. corporate tax rate and the resulting increase in income taxes and other taxes continued to be factors in the decline in quarterly net income. - FY2018-Q2First statedAnnual report
「Profit attributable to owners of the parent was ¥77 million, down 18.4% year on year, due to an increase in income taxes and other taxes resulting from the reversal of deferred tax assets at a subsidiary following the reduction in the U.S. corporate tax rate.」
The reversal of deferred tax assets at a subsidiary following the reduction in the U.S. corporate tax rate led to higher income taxes and other taxes, becoming a factor in the decline in quarterly net income.