Higher tax expense due to the reversal of deferred tax assets
First written in FY2019-Q3. 2 of 4 entries say "Mitigated", first in FY2023. Latest entry: FY2024.
The whole theme swung hardest in 2019: 3 of 13 companies on the "Worse" side.
3 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Net deferred tax assets 28 56」
Net deferred tax assets increased from ¥28 million in the previous fiscal year to ¥56 million, while the subtotal of the valuation allowance decreased from ¥245 million to ¥223 million. - FY2023MitigatedAnnual report
「Net deferred tax assets decreased from ¥85 million in the previous consolidated fiscal year to ¥28 million in the current consolidated fiscal year. The subtotal of the valuation allowance decreased from ¥364 million to ¥245 million.」
While net deferred tax assets decreased, the subtotal of the valuation allowance also declined from the previous fiscal year, marking a change from the prior period of rising valuation allowances. - FY2019Details of the increase in the valuation allowanceAnnual report
「The valuation allowance increased by ¥676 million. The main component of this increase was the recognition of a ¥526 million valuation allowance related to tax loss carryforwards.」
A valuation allowance was recognized for ¥526 million in tax loss carryforwards, changing net deferred tax assets from ¥82 million to a ¥2 million liability. - FY2019-Q3First statedAnnual report
「Due to the higher tax expense burden resulting from the reversal of deferred tax assets, the quarterly net loss was ¥1,829 million, compared with a quarterly net loss of ¥145 million in the same quarter of the previous year.」
The higher tax expense burden accompanying the reversal of deferred tax assets is cited as a factor behind the ¥1,829 million quarterly net loss.