Review of the Recoverability of Deferred Tax Assets Assuming a Prolonged COVID-19 Pandemic
First written in FY2021-Q2. 1 of 4 entries say "Advanced", first in FY2021-Q3. Latest entry: FY2024.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
- FY2024DroppedAnnual report
「We regularly assess the recoverability of deferred tax assets and recognize valuation allowances for portions for which recovery of the assets is considered uncertain.」
No review of deferred tax assets assuming a prolonged impact from COVID-19 was disclosed; the matter was presented as a general assessment of recoverability. - FY2022RestatedAnnual report
「At present, we believe that the impact on accounting estimates, including the assessment of impairment losses on fixed assets and the recoverability of deferred tax assets, is limited.」
While assuming that the impact of COVID-19 will continue, the company explained that its impact on estimates of fixed asset impairment and deferred tax assets as of the current fiscal year is limited. - FY2021-Q3AdvancedAnnual report
「Although the timing of the containment remains uncertain, we have revised our assumption that the impact will continue beyond the fiscal year ending March 2021. Taking into account the recent recovery in our automotive and construction machinery businesses, we have again reviewed the recoverability of deferred tax assets during the third quarter of the current fiscal year.」
The assumption was revised to reflect that the impact of COVID-19 would continue beyond the fiscal year ending March 2021, and the recoverability of deferred tax assets was reviewed again, taking into account the recent recovery in the automotive and construction machinery businesses. - FY2021-Q2First statedAnnual report
「During the first quarter of the current fiscal year, we reviewed the recoverability of deferred tax assets based on the assumption that the impact of the spread of COVID-19 would continue through the end of the fiscal year ending March 2021. As a result, we reversed a portion of the assets and recorded ¥838 million as deferred income taxes. During the second quarter of the current fiscal year, we made no changes to these accounting estimates or assumptions.」
Based on the assumption that the impact of COVID-19 would continue through the end of the fiscal year ending March 2021, a portion of deferred tax assets was reversed and ¥838 million was recorded as deferred income taxes. As of the second quarter, there had been no changes to these estimates or assumptions.