Accounting Estimates Based on Assumptions Regarding the Timing of COVID-19 Containment and Recovery
First written in FY2020-Q2. 4 of 11 entries say "Softened", first in FY2021-Q2. Latest entry: FY2023-Q2.
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 from the information described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The company has reconfirmed that there has been no material change from the previous fiscal year in the basis for the accounting estimates concerning the impact of COVID-19. - FY2022SoftenedAnnual report
「Although it is difficult to accurately predict when COVID-19 will be fully contained or the possibility of a resurgence, the Group has made assumptions, based on external information and other factors, that sales will continue to be affected at least through the fiscal year ending November 2023.」
The assumptions were revised to state that the timing of containment cannot be identified and that the impact on sales will remain at least through the fiscal year ending November 2023. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 from the information described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The company has reconfirmed that there has been no material change from the previous fiscal year in the basis for the accounting estimates concerning the impact of COVID-19. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 from the information described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The company has reconfirmed that there has been no material change from the previous fiscal year in the basis for the accounting estimates concerning the impact of COVID-19. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of the spread of COVID-19 from the information described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The company stated that there were no material changes from the previous fiscal year in the assumptions underlying its accounting estimates regarding the impact of COVID-19. - FY2021SoftenedAnnual report
「Although the number of infections rose again in January 2022 in the food service business, the impact is expected to be limited because government policies, including large-scale vaccinations, are progressing smoothly. The Group forecasts that sales will gradually return to levels in line with normal years by the end of the fiscal year ending November 2022. The timing of the containment of COVID-19 remains uncertain, however, and if the impact continues for an extended period and the assumptions above can no longer be expected to hold, losses may arise in the future.」
While maintaining the assumption of recovery by the end of the fiscal year ending November 2022, the company explicitly stated the uncertainty regarding the timing of containment and the possibility of future losses if the assumptions fail. - FY2021-Q3SoftenedAnnual report
「In the food service business, requests from the Tokyo Metropolitan Government to shorten restaurant operating hours remain in effect, and a temporary decline in performance is expected. However, as government policies, including large-scale vaccinations, are progressing smoothly, the Group forecasts that the situation will gradually subside from the fourth quarter of the fiscal year ending November 2021 onward and that sales will gradually return to levels in line with normal years by the end of the fiscal year ending November 2022.」
The assumed start of recovery in the food service business was pushed back from the third quarter onward to the fourth quarter onward, and the timing of recovery to sales levels in line with normal years was also set at the end of the fiscal year ending November 2022. - FY2021-Q2SoftenedAnnual report
「In the food service business, requests from the Tokyo Metropolitan Government to shorten restaurant operating hours remain in effect, and a temporary decline in performance is expected. However, as government policies, including large-scale vaccinations, are gradually progressing, the Group forecasts that the situation will gradually subside from the third quarter of the fiscal year ending November 2021 onward and that sales will gradually return to levels in line with normal years by the end of that fiscal year.」
The assumed start of recovery in the food service business was pushed back from the second quarter onward to the third quarter onward, with a return to levels in line with normal years assumed by the fiscal year-end. - FY2021-Q1ReframedAnnual report
「The Group assumes that these circumstances will continue at least through the fiscal year ending November 2021. However, because the welfare and nursing care businesses in which the Group specializes provide “essential services enabling users and their families to lead healthy lives,” they are not subject to government restrictions, and demand for these services has not declined even amid the COVID-19 pandemic. Accordingly, the Group forecasts that the possibility of a significant deterioration in the business environment during the fiscal year ending November 2021 is extremely low. In the food service business, requests from the Tokyo Metropolitan Government to shorten restaurant operating hours remain in effect, and a temporary decline in performance is expected. However, the Group forecasts that the situation will gradually subside from the second quarter of the fiscal year ending November 2021 onward and that sales will gradually return to levels in line with normal years by the end of that fiscal year.」
The assumptions underlying the accounting estimates were revised to assume that the infection situation would continue at least through the fiscal year ending November 2021, while the food service business would gradually recover from the second quarter onward and return to levels in line with normal years by the fiscal year-end. - FY2020-Q3ReframedAnnual report
「The Group assumes that these circumstances will continue at least through the current consolidated fiscal year. However, because the welfare and nursing care businesses in which the Group specializes provide essential services enabling users and their families to lead healthy lives, the government and local authorities requested that the businesses continue operating even under the declaration of a state of emergency. Accordingly, the Group assumes that the possibility of a significant deterioration in the business environment is extremely low from the fourth quarter of the consolidated fiscal year onward and has reflected this assumption in its accounting estimates. In the food service business, the Group is also making accounting estimates, including the recoverability of deferred tax assets and the determination of whether to recognize impairment losses on fixed assets, on the assumption that sales will gradually recover, the situation will begin to subside around the beginning of 2021, and sales will return to levels in line with normal years.」
The assumptions underlying the accounting estimates were specified separately for the welfare and nursing care businesses and the food service business. For the welfare and nursing care businesses, the possibility of a significant deterioration from the fourth quarter onward was considered extremely low. For the food service business, the assumptions were that the situation would subside around the beginning of 2021 and sales would recover to levels in line with normal years. - FY2020-Q2First statedAnnual report
「Based on available information, the Group calculates accounting estimates, including impairment losses on fixed assets, on the assumption that the situation will gradually subside toward the end of the year.」
As additional information, the company disclosed that it is making estimates, including impairment losses on fixed assets, based on an assumption regarding when the infectious disease will subside.