Risk Relating to the Recoverability of Deferred Tax Assets and Changes in Accounting Standards
First written in FY2016. 2 of 4 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2020: 3 of 6 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「If, due to a deterioration in business conditions or other factors, it is determined that temporary differences and other items cannot be recovered from taxable income in the periods in which they are expected to reverse, deferred income tax expense may increase and affect the Group's results.」
The risk that the recoverability of deferred tax assets depends on business conditions is reconfirmed. - FY2020MaterialisedAnnual report
「Profit or loss attributable to owners of the parent was a loss of ¥680 million, compared with profit of ¥1,339 million in the previous fiscal year, following recognition of ¥761 million in income taxes deferred due to the write-down of deferred tax assets and other factors.」
¥761 million in deferred income tax expense was recognized in connection with the write-down of deferred tax assets, resulting in a net loss of ¥680 million for the period. The recoverability risk of deferred tax assets has materialized in the results. - FY2017RestatedAnnual report
「If, due to a deterioration in business conditions or other factors, it is determined that temporary differences and other items cannot be recovered from taxable income in the periods in which they are expected to reverse, income taxes may increase and affect the Group's results and financial position.」
In addition to the recoverability of deferred tax assets, the risks of changes in accounting standards or tax laws and differences of opinion with the tax authorities are reiterated. - FY2016First statedAnnual report
「If, due to a deterioration in business conditions or other factors, it is determined that temporary differences and other items cannot be recovered from taxable income in the periods in which they are expected to reverse, income taxes may increase and affect the Group's results and financial position.」
In addition to the recoverability of deferred tax assets, unexpected changes in accounting standards or tax laws and differences of opinion with the tax authorities are identified as risks.