Assessment of Impairment and Deferred Tax Assets Based on COVID-19 Containment Assumptions
First written in FY2021-Q2. 2 of 11 entries say "Restated". Latest entry: FY2024-Q3.
- FY2024-Q3RestatedAnnual report
「There have been no material changes to the assumptions concerning the impact of the spread of COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
The company continues to state that there have been no material changes since the end of the previous fiscal year in the assumptions used for accounting estimates regarding impairment, deferred tax assets and other items related to the impact of COVID-19. - FY2023RaisedAnnual report
「Regarding revenue, as the spread of COVID-19 is expected to subside and economic normalization to progress further, we assume, based on actual results for the fiscal year ended March 2023, that same-store sales in the conveyor-belt sushi business and revenue in the delicatessen business in the following consolidated fiscal year will exceed actual results before the impact of COVID-19.」
The assumption was changed from a recovery to approximately the same level as 2019 actual results, as stated through the previous fiscal year, to an assumption that results in the following consolidated fiscal year would exceed actual results before the impact of the infection. - FY2023-Q3RestatedAnnual report
「Looking ahead, assuming that business performance would return to approximately the same level as actual results from January to December 2019, before the impact of COVID-19, we made reasonable estimates regarding impairment of fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared on that assumption.」
The company continues to assess impairment and deferred tax assets based on the assumption that business performance will return to 2019 actual-results levels. - FY2023-Q2SoftenedAnnual report
「Looking ahead, assuming that business performance would return to approximately the same level as actual results from January to December 2019, before the impact of COVID-19, we made reasonable estimates regarding impairment of fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared on that assumption.」
Although a recovery to 2019 actual-results levels continues to be assumed, the recovery timing of “from the third quarter of the current fiscal year onward,” stated in the previous quarter, was not specified, making the timing less concrete. - FY2023-Q1Acceleration of the assumed timing of recovery in business performanceAnnual report
「Although the effects of refraining from going out and other factors are expected to remain through the first quarter of the current fiscal year, we assumed that business performance would return from the second quarter of the current fiscal year onward to approximately the same level as actual results from January to December 2019, before the impact of COVID-19, and made reasonable estimates regarding impairment of fixed assets and the recoverability of deferred tax assets, among other matters, based on the resulting business plan.」
The assumption was changed from the recovery from the second quarter of the following consolidated fiscal year onward indicated at the end of the previous fiscal year to a return to 2019 actual-results levels from the cumulative second quarter of the current fiscal year onward. - FY2022Deferral of the assumed timing of recovery in business performance to the second quarter of the following fiscal year onwardAnnual report
「Although the effects of refraining from going out and other factors are expected to remain until the first quarter of the following consolidated fiscal year even after restrictions on reduced-hours operations are lifted, we assumed that business performance would return from the second quarter of the following consolidated fiscal year onward to approximately the same level as actual results from January to December 2019, before the impact of COVID-19, and made reasonable estimates based on a business plan prepared in light of conditions as of the end of the reporting period.」
The assumed timing of recovery in business performance was deferred from the previous assumption of the fourth quarter onward to the second quarter of the following fiscal year onward. - FY2022-Q3Deferral of the assumed timing of recovery in business performance to the fourth quarter onwardAnnual report
「Looking ahead, restrictions on activities necessary to prevent the spread of infection are expected to ease as vaccination progresses. Accordingly, assuming that business performance would return to pre-COVID-19 levels from the fourth quarter onward, when the effects of vaccination were expected to emerge, we made reasonable estimates regarding impairment losses on fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared in light of conditions as of the end of the reporting period.」
The assumed timing of containment and recovery in business performance was set at the fourth quarter onward, changed from the previous assumption of the third quarter onward. - FY2022-Q1ReframedAnnual report
「Looking ahead, restrictions on activities necessary to prevent the spread of infection are expected to ease as vaccination progresses. Accordingly, assuming that business performance would return to pre-COVID-19 levels from the third quarter of the current fiscal year onward, when the effects of vaccination were expected to emerge, we made reasonable estimates regarding impairment losses on fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared in light of conditions as of the end of the reporting period.」
The assumed timing of recovery in business performance was changed from “the third quarter of the following fiscal year onward” at the end of the previous fiscal year to “the third quarter of the current fiscal year onward,” when the effects of vaccination were expected to emerge. - FY2021Further deferral of the assumed timing of containment to the third quarter of the following fiscal yearAnnual report
「Assuming that business performance would return to pre-COVID-19 levels from the third quarter of the following fiscal year onward, when the effects of vaccination were expected to emerge, we made reasonable estimates based on a business plan prepared in light of conditions as of the end of the reporting period.」
The assumed timing of containment and recovery in business performance was changed from “around the end of the first quarter of the following fiscal year” to the third quarter of the following fiscal year onward, when the effects of vaccination were expected to emerge. - FY2021-Q3Deferral of the assumed timing of containmentAnnual report
「Assuming that the spread of infections in each region would be broadly contained by around the end of the first quarter of the following fiscal year as economic activity resumed, we made reasonable estimates regarding impairment losses on fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared in light of conditions as of the end of the reporting period.」
The assumed timing of containment was changed from “around the end of the third quarter of the current fiscal year” in the previous quarter to “around the end of the first quarter of the following fiscal year.” - FY2021-Q2First statedAnnual report
「Assuming that the spread of infections in each region would be broadly contained by around the end of the third quarter of the current fiscal year as economic activity resumed, we made reasonable estimates regarding impairment losses on fixed assets and the recoverability of deferred tax assets, among other matters, based on a business plan prepared in light of conditions as of the end of the reporting period.」
Assuming that the spread of COVID-19 would be broadly contained by around the end of the third quarter of the current fiscal year, the company estimated impairment losses on fixed assets and the recoverability of deferred tax assets based on its business plan.