Miyairi Valve Mfg. (6495) · PolicyFirst stated

Change to the Calculation of Interim Tax Expense Using the Estimated Effective Tax Rate

First written in FY2025-H1. . Latest entry: FY2025-H1.

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Streamlining Tax Expense Calculations in Quarterly Financial ResultsA theme 99 companies write about · 0 as a headwind · 86 as a tailwind

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FY2025-H1First statedAnnual report
「Previously, the company calculated tax expense using the same method as for the annual financial statements. To respond more quickly and efficiently to the financial closing process, from the current interim accounting period it changed to a method of reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the fiscal year, and calculating interim tax expense by multiplying interim profit before income taxes by that estimated effective tax rate.」
From the interim accounting period, the company changed to a method of calculating tax expense based on a reasonable estimate of the effective tax rate after applying tax-effect accounting for the fiscal year. The impact of the change on the interim financial statements was immaterial, and the change was not applied retrospectively.

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