Conversion to quarterly net income through recognition of deferred tax assets
First written in FY2018-Q1. 4 of 7 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2020: 3 of 12 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- FY2019Decline in net income following recognition of deferred tax assetsAnnual report
「The substantial decrease in net income attributable to owners of the parent from the previous consolidated fiscal year was due to income taxes—deferred becoming negative in the previous consolidated fiscal year as a result of recognizing deferred tax assets based on past results and expected future performance.」
Net income fell 62.3% year on year to ¥1,110 million, which the company attributed to the reversal of the tax effect from recognizing deferred tax assets in the previous year. - FY2019-Q3RestatedAnnual report
「The substantial decrease in net income attributable to owners of the parent from the same quarter of the previous year was due to income taxes—deferred becoming negative in the previous consolidated fiscal year as a result of recognizing deferred tax assets based on past results and expected future performance.」
The company explained that net income attributable to owners of the parent for the third quarter fell to ¥514 million because the tax effect from recognizing deferred tax assets in the previous consolidated fiscal year had boosted the comparative net income. - FY2019-Q2Decline in net income following recognition of deferred tax assetsAnnual report
「The substantial decrease in net income attributable to owners of the parent from the same quarter of the previous year was due to income taxes—deferred becoming negative in the previous consolidated fiscal year as a result of recognizing deferred tax assets based on past results and expected future performance.」
The tax effect from recognizing deferred tax assets in the previous consolidated fiscal year had boosted the comparative net income, so net income attributable to owners of the parent for the second quarter fell substantially to ¥40 million, the company explained. - FY2018RestatedAnnual report
「In addition to recording gains on the sale of investment securities and fixed assets as extraordinary income, the company recognized deferred tax assets based on past results and expected future performance. As a result, income taxes—deferred was negative, and net income attributable to owners of the parent increased 202.0% from the previous consolidated fiscal year to ¥2,949 million.」
Recognition of deferred tax assets made income taxes—deferred negative, resulting in net income of ¥2,949 million. - FY2018-Q3RestatedAnnual report
「As a result of recognizing deferred tax assets based on past results and future business trends, income taxes—deferred was negative, and quarterly net income attributable to owners of the parent was ¥1,384 million, compared with income of ¥134 million in the same quarter of the previous year.」
The company has reconfirmed the pattern whereby recognition of deferred tax assets makes income taxes—deferred negative, resulting in net income for the quarter. - FY2018-Q2RestatedAnnual report
「As a result of recognizing deferred tax assets based on past results and future business trends, income taxes—deferred was negative, and quarterly net income attributable to owners of the parent was ¥1,277 million, compared with a loss of ¥311 million in the same quarter of the previous year.」
As in the previous quarter, recognition of deferred tax assets resulted in negative income taxes—deferred, and quarterly net income was recorded. - FY2018-Q1First statedAnnual report
「As a result of recognizing deferred tax assets, income taxes—deferred was negative, and quarterly net income attributable to owners of the parent was ¥1,150 million, compared with a loss of ¥310 million in the same quarter of the previous year.」
Despite an operating loss and an ordinary loss, recognition of deferred tax assets resulted in negative income taxes—deferred, and quarterly net income attributable to owners of the parent was recorded.