Recognition of deferred tax assets in connection with the assignment of claims relating to security deposits and other items
First written in FY2018-Q3. 1 of 2 entries say "Advanced", first in FY2018. Latest entry: FY2018.
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- FY2018AdvancedAnnual report
「The Company completed the assignment of approximately ¥5.9 billion in receivables, including security deposit receivables from Otaru Bay City Development Co., Ltd., which had been included in long-term receivables, after determining the assignee. As a result, ¥56 million in damages for delay due to delayed collection of the receivables was recognized as non-operating income, while income taxes and other taxes decreased by approximately ¥1.5 billion because the allowance for doubtful accounts recorded in prior years was deducted for tax purposes.」
Completed the assignment of approximately ¥5.9 billion in receivables, including security deposit receivables, resulting in the recognition of ¥56 million in damages for delay and a decrease of approximately ¥1.5 billion in income taxes and other taxes. - FY2018-Q3First statedAnnual report
「The substantial decrease in income taxes and other taxes was due to the recognition of deferred tax assets after the assignment of receivables, including security deposits, held by the Company to a corporate revitalization fund was confirmed, making it possible to deduct the allowance for doubtful accounts recorded in prior years for tax purposes.」
The assignment of receivables, including security deposits, to a corporate revitalization fund was confirmed, and deferred tax assets were recognized in connection with the tax deduction of the allowance for doubtful accounts recorded in prior years.