Accounting estimates based on assumptions regarding COVID-19
First written in FY2021-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022-Q1.
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- FY2022-Q1RestatedAnnual report
「In the first quarter of fiscal 2021, the Group made accounting estimates, including assessments of the recoverability of deferred tax assets and impairment testing of fixed assets, based on the following assumptions for each business.」
The company continues to use accounting estimates based on a demand recovery scenario reflecting the impact of COVID-19. - FY2021-Q3RestatedAnnual report
「In the third quarter of fiscal 2020, the Group made accounting estimates, including assessments of the recoverability of deferred tax assets and impairment testing of fixed assets, based on the following assumptions for each business. ① In the Aerospace Systems business, global passenger demand remains sluggish. Although demand is expected to gradually recover as travel restrictions are eased, a considerable period will be required for a full recovery. ② In the other businesses, demand for hydraulic equipment for the Chinese construction machinery market and robots for semiconductor applications is already on a recovery trend, but demand for other products will take some time to recover.」
The demand recovery scenario for the Aerospace and other businesses based on assumptions regarding COVID-19 continued to be applied to accounting estimates. - FY2021-Q2RestatedAnnual report
「In the second quarter of fiscal 2020, the Group made accounting estimates, including assessments of the recoverability of deferred tax assets and impairment testing of fixed assets, based on the following assumptions for each business. ① In the Aerospace Systems business, global passenger demand remains sluggish. Although demand is expected to gradually recover as travel restrictions are eased, a considerable period will be required for a full recovery. ② In the other businesses, demand for hydraulic equipment for the Chinese construction machinery market and robots for semiconductor applications is already on a recovery trend, but demand for other products will take some time to recover.」
The demand recovery scenario for the Aerospace and other businesses based on assumptions regarding COVID-19 was applied to accounting estimates without change from the previous quarter. - FY2021-Q1First statedAnnual report
「In the first quarter of fiscal 2020, the Group made accounting estimates, including assessments of the recoverability of deferred tax assets and impairment testing of fixed assets, based on the following assumptions for each business. ① In the Aerospace Systems business, global passenger demand remains sluggish. Although demand is expected to gradually recover as travel restrictions are eased, a considerable period will be required for a full recovery. ② In the other businesses, demand for hydraulic equipment for the Chinese construction machinery market and robots for semiconductor applications is already on a recovery trend, but demand for other products will take some time to recover.」
The impact of COVID-19 was reflected in accounting estimates, including assessments of deferred tax asset recoverability and impairment testing of fixed assets, based on assumptions for demand recovery in the Aerospace Systems and other businesses.