Change to the Calculation of Quarterly Tax Expense Using the Estimated Effective Tax Rate
First written in FY2024-Q1. 2 of 3 entries say "Restated". Latest entry: FY2024-Q3.
80 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Previously, tax expense for the Company and its consolidated subsidiaries was calculated using the standard method. To further improve the efficiency of quarterly closing procedures, from the first quarter the method was changed to one that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates quarterly tax expense by multiplying pretax quarterly income by that estimated effective tax rate.」
The change to calculating quarterly tax expense using the estimated effective tax rate continues to be applied, and its impact is considered immaterial. - FY2024-Q2RestatedAnnual report
「Previously, tax expense for the Company and its consolidated subsidiaries was calculated using the standard method. To further improve the efficiency of quarterly closing procedures, from the first quarter the method was changed to one that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates quarterly tax expense by multiplying pretax quarterly income by that estimated effective tax rate.」
The change to calculating quarterly tax expense using the estimated effective tax rate continues to be applied. - FY2024-Q1First statedAnnual report
「Previously, the Company and its consolidated subsidiaries generally calculated tax expense using the standard method. To further improve the efficiency of quarterly closing, from the first quarter of the current consolidated fiscal year we changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax profit for the consolidated fiscal year and applies that estimated effective tax rate to pretax quarterly profit.」
From the first quarter of the current fiscal year, the method of calculating tax expense was changed from the standard method to a method using the estimated effective tax rate to improve the efficiency of quarterly closing procedures. The impact was immaterial, and no retrospective application was made.