Reduction in the US Corporate Tax Rate Under US Tax Reform and Remeasurement of Deferred Tax
First written in FY2018-Q3. 1 of 3 entries say "Restated". Latest entry: FY2019.
0 other companies' latest entry also says "Cited as achieved".
- FY2019Cited as achievedAnnual report
「Profit for the year was ¥676,200 million, a decrease of ¥452,300 million, or 40.1%, from the previous consolidated fiscal year, due in part to the impact of U.S. tax reform in the previous consolidated fiscal year.」
The reduction in tax expense from U.S. tax reform recognized in the previous fiscal year was cited, together with historical results, as a factor behind the year-on-year decline in profit for the current fiscal year. - FY2018RestatedAnnual report
「On 22 December 2017, tax reform legislation was enacted in the United States. Under the legislation, the federal corporate tax rate applicable to the Company’s U.S. consolidated subsidiaries was reduced from 35% to 31.55% for the current consolidated fiscal year and to 21% from fiscal 2018 onward. The Company recognized the effects of the enactment of the legislation in the current consolidated fiscal year, including a ¥346,129 million reduction in corporate income tax expense resulting from the remeasurement of deferred tax assets and deferred tax liabilities of its U.S. consolidated subsidiaries following the reduction in the federal corporate tax rate.」
The Company reconfirmed, in its full-year results, the reduction in corporate income tax expense of ¥346,129 million resulting from the U.S. tax reform-driven reduction in the corporate tax rate and the remeasurement of deferred tax assets and liabilities. - FY2018-Q3First statedAnnual report
「On 22 December 2017, tax reform legislation was enacted in the United States. Under the legislation, the federal corporate tax rate applicable to the Company’s U.S. consolidated subsidiaries was reduced from 35% to 31.55% for the current consolidated fiscal year and to 21% from fiscal 2018 onward. The Company recognized the effects of the enactment of the legislation in the third quarter of the current consolidated fiscal year, including a ¥346,129 million reduction in corporate income tax expense resulting from the remeasurement of deferred tax assets and deferred tax liabilities of its U.S. consolidated subsidiaries following the reduction in the federal corporate tax rate.」
The Company newly disclosed the enactment of U.S. tax reform legislation, the reduction in the federal corporate tax rate from 35% to 31.55% and to 21% from fiscal 2018 onward, and the ¥346,129 million reduction in corporate income tax expense resulting from the remeasurement of deferred tax assets and liabilities.