Review of Assumptions Used in Accounting Estimates in Light of COVID-19
First written in FY2021-Q1. 9 of 12 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2026: 5 of 23 companies on the "Worse" side.
- FY2024-Q3RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of shortages of semiconductors and other components in the automotive industry, the situation in Russia and Ukraine, and other factors stated in the previous consolidated fiscal year's securities report under “Additional Information on Uncertainty in Accounting Estimates.”」
The company stated that there had been no material changes to the previous assumptions incorporating the impact of shortages of semiconductors and other components, the situation in Russia and Ukraine, and other factors into accounting estimates. - FY2024-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of shortages of semiconductors and other components in the automotive industry, the situation in Russia and Ukraine, and other factors stated in the previous consolidated fiscal year's securities report under “Additional Information on Uncertainty in Accounting Estimates.”」
The company stated that there had been no material changes to the previous assumptions incorporating the impact of shortages of semiconductors and other components, the situation in Russia and Ukraine, and other factors into accounting estimates. - FY2023RestatedAnnual report
「Although it is difficult to accurately predict developments concerning shortages of semiconductors and other components in the automotive industry to which the Group belongs, as well as the situation in Russia and Ukraine, we assume that these factors will have some impact, including through lower sales and continued increases in energy prices, including raw materials. Based on these assumptions, we have made accounting estimates including impairment of fixed assets and the recoverability of deferred tax assets.」
The impact of shortages of semiconductors and other components, the situation in Ukraine, lower sales, and higher raw material and energy prices continues to be incorporated into accounting estimates. - FY2023-Q3Revision of accounting estimate assumptions to incorporate adverse impactsAnnual report
「The assumption stated in the previous fiscal year's securities report under “Additional Information on Uncertainty in Accounting Estimates” that the impact of COVID-19 would be limited has been revised. We now assume that, from the third quarter of the current consolidated fiscal year onward, there will continue to be impacts from prolonged shortages of semiconductors and other components, continued increases in energy prices, including raw materials, resulting from the situation in Russia and Ukraine, and declining sales caused by the spread of COVID-19 in the Chinese market. Based on these assumptions, we have made accounting estimates including impairment of fixed assets and the recoverability of deferred tax assets.」
The previous assumption that the impact of the infectious disease would be limited was revised, and the effects of component shortages, higher energy prices, and declining sales in the Chinese market, among other factors, were incorporated into accounting estimates. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of COVID-19 stated in the previous consolidated fiscal year's securities report under “Additional Information on Uncertainty in Accounting Estimates.”」
The company explained that there had been no material changes from the previous consolidated fiscal year in the accounting estimate assumptions regarding the impact of COVID-19. - FY2023-Q1RestatedAnnual report
「There have been no material changes to the assumptions regarding the impact of COVID-19 stated in the previous consolidated fiscal year's securities report under “Additional Information on Uncertainty in Accounting Estimates.”」
The company stated that there had been no material changes from the previous consolidated fiscal year in the accounting estimate assumptions regarding the impact of COVID-19. - FY2022-Q3RestatedAnnual report
「There have been no material changes to the assumption stated in the previous fiscal year's securities report under “Significant Accounting Estimates” that the impact of COVID-19 will be limited.」
The company explained that there had been no material changes as of the end of the current third quarter in the accounting estimate assumption that the impact of the infectious disease would be limited. - FY2022-Q1RestatedAnnual report
「There have been no material changes in the assumptions regarding the impact of COVID-19 described in the “Significant Accounting Estimates” section of the previous fiscal year’s securities report.」
The company explained that there had been no material changes from the previous fiscal year in the accounting estimate assumptions regarding the impact of the infectious disease on demand. - FY2021AdvancedAnnual report
「Although the situation surrounding COVID-19 remains uncertain, with no end in sight, orders and production have generally normalized from the third quarter of the consolidated fiscal year onward. Accordingly, we have made accounting estimates, including impairment of fixed assets and the recoverability of deferred tax assets, based on the assumption that the impact of COVID-19 will remain limited in the following consolidated fiscal year.」
In light of the general normalization of orders and production from the third quarter onward, the assumption has progressed to one that the impact of the infectious disease in the following fiscal year will be limited. However, the possibility of losses if the infection situation worsens remains. - FY2021-Q3RestatedAnnual report
「We assume that the decline in demand caused by COVID-19 will continue during the current consolidated fiscal year, but that conditions will improve in the second half and continue to improve in the following consolidated fiscal year, returning to near-normal levels for the full year. Based on this assumption, we have made accounting estimates including impairment of fixed assets and the recoverability of deferred tax assets.」
The company continues to use the assumption that the decline in demand will continue during the current fiscal year, improve from the second half, and return to near-normal levels for the full year in the following fiscal year when estimating impairment of fixed assets and the recoverability of deferred tax assets. It also disclosed the possibility of losses if containment of the infectious disease is delayed or prolonged. - FY2021-Q2RestatedAnnual report
「We assume that the decline in demand caused by COVID-19 will continue during the current consolidated fiscal year, but that conditions will improve in the second half and continue to improve in the following consolidated fiscal year, returning to near-normal levels for the full year. Based on this assumption, we have made accounting estimates including impairment of fixed assets and the recoverability of deferred tax assets.」
The company continues to use the assumption that the decline in demand caused by the infectious disease will continue during the current fiscal year, improve from the second half, and normalize in the following fiscal year in estimating impairment of fixed assets and the recoverability of deferred tax assets. - FY2021-Q1First statedAnnual report
「We assume that the decline in demand caused by COVID-19 will continue during the current consolidated fiscal year, but that conditions will improve in the second half and continue to improve in the following consolidated fiscal year, returning to near-normal levels for the full year. Based on this assumption, we have made accounting estimates including impairment of fixed assets and the recoverability of deferred tax assets.」
While the decline in demand caused by the infectious disease is expected to continue during the current fiscal year, the assumptions were revised to reflect improvement from the second half and normalization in the following fiscal year, and this was reflected in estimates of impairment of fixed assets and the recoverability of deferred tax assets. The company also disclosed the possibility of losses if containment of the infectious disease is delayed or prolonged.