Change to the Estimated Effective Tax Rate Method for Quarterly Tax Expense
First written in FY2024-Q1. 1 of 2 entries say "Restated". Latest entry: FY2024-Q2.
80 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「Tax expenses had previously been calculated using the standard method. However, from the first quarter of the current fiscal year, the Company changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year, and calculates tax expenses by multiplying quarterly profit before income taxes by that estimated effective tax rate.」
The estimated effective tax rate method introduced in the first quarter has continued to be applied in the second quarter. The impact is described as immaterial. - FY2024-Q1First statedAnnual report
「Taxes had previously been calculated using the standard method. However, to respond to quarterly financial reporting promptly and efficiently, from the first quarter of the current consolidated fiscal year the company has changed to a method of reasonably estimating the effective tax rate after applying tax-effect accounting to income before income taxes for the consolidated fiscal year, and calculating income taxes by multiplying quarterly income before income taxes by that estimated effective tax rate.」
To accelerate and streamline quarterly financial reporting, the Company changed its method of calculating tax expenses to the estimated effective tax rate method from the first quarter of the current fiscal year. The impact of the change is described as immaterial.