Reversal of deferred tax assets based on the assumption that the effects of COVID-19 will continue
First written in FY2021-Q2. 5 of 10 entries say "Restated". Latest entry: FY2023.
- FY2023DroppedAnnual reportThe current year's significant accounting estimates contain no explicit disclosure concerning the reversal of deferred tax assets or the assumptions based on the continued effects of COVID-19.
- FY2023-Q3RestatedAnnual report
「There has been no significant change in the effects of the spread of COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
There has been no significant change in the accounting assumptions concerning the effects of the spread of the infection, and we continue to assume that its effects will continue to some extent during the fiscal year ending March 2023. - FY2023-Q2RestatedAnnual report
「There has been no significant change in the effects of the spread of COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
There has been no significant change in the accounting assumptions concerning the effects of the spread of the infection, and we assume that its effects will continue to some extent during the fiscal year ending March 2023. - FY2022RestatedAnnual report
「The timing of containment and other aspects of the effects of COVID-19 remain unforeseeable, and we assume that its effects will continue to some extent during 2022.」
We maintain the accounting assumption that the effects of the infection will continue to some extent during 2022 and assess the recoverability of deferred tax assets on that basis. - FY2022-Q3Additional uncertainty from the Omicron variantAnnual report
「The number of confirmed COVID-19 infections increased over the year-end and New Year period, as did cases believed to involve community transmission of the Omicron variant. On 21 January, quasi-emergency measures to prevent the spread of disease were applied in 13 prefectures, including the 1 metropolitan area and 3 prefectures in the Tokyo metropolitan region and 3 prefectures in the Tokai region, and the areas covered were subsequently expanded. Although infections with the Omicron variant are said to result in relatively mild symptoms, its characteristics are not yet sufficiently understood. The timing of containment of COVID-19 therefore remains uncertain, and if the above assumptions cease to be reasonably expected, our Group's financial position and operating results may be affected.」
While maintaining the accounting assumption that the effects of the infection will continue to some extent during the fiscal year ending March 2022, community transmission of the Omicron variant and quasi-emergency measures to prevent the spread of disease have been added as new uncertainties. - FY2022-Q2RestatedAnnual report
「There has been no significant change in the assumptions concerning the effects of the spread of COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year, and our Group assumes that the effects of its spread will continue to some extent during the fiscal year ending March 2022.」
There has been no significant change in the accounting assumption that the effects of the infection will continue to some extent during the fiscal year ending March 2022. - FY2022-Q1RestatedAnnual report
「There has been no significant change in the assumptions concerning the effects of the spread of COVID-19 described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year, and our Group assumes that the effects of its spread will continue to some extent during the fiscal year ending March 2022.」
There has been no significant change in the accounting assumption that the effects of the infection will continue to some extent during the fiscal year ending March 2022. - FY2021Assumption that the effects of the infection will continue into the fiscal year ending March 2022Annual report
「Although it is difficult to predict how COVID-19 will affect our Group in these circumstances, we assume that the effects of its spread will continue to some extent during the fiscal year ending March 2022.」
We estimate the recoverability of deferred tax assets on the assumption that the effects of the infection will continue to some extent during the fiscal year ending March 2022. - FY2021-Q3Longer-lasting effects and larger reversal of deferred tax assetsAnnual report
「Although procedures for vaccination have progressed and expectations for infection-control measures have risen, infections have recently spread rapidly, and the timing of containment and other matters remain unforeseeable. At present, the effects on our Group's financial position and operating results also remain uncertain. We assume that the effects of the spread of COVID-19 will gradually ease going forward, but expect them to continue to some extent after March 2021. In these circumstances, in addition to pursuing medium- to long-term business structure reforms, our Group carefully reconsidered the application of impairment accounting to fixed assets and the recoverability of deferred tax assets. As a result, during the nine months ended 31 December of the current consolidated fiscal year, we recognized an impairment loss of ¥272 million on fixed assets held in the Kansai region and reversed ¥832 million of deferred tax assets, recognizing the same amount as an adjustment to income taxes.」
On the assumption that the effects of the infection would continue to some extent after March 2021, we recognized an impairment loss of ¥272 million in the Kansai region and reversed ¥832 million of deferred tax assets. - FY2021-Q2First statedAnnual report
「We changed our assumption to one that the effects of the spread of COVID-19 would continue through the end of the fiscal year ending March 2021. During the second quarter of the current consolidated fiscal year, taking into account the effects of COVID-19 and the contraction of the domestic printing market, we reversed ¥130 million of deferred tax assets and recognized the same amount as an adjustment to income taxes.」
The assumption was changed to one that the effects of the infection would continue through the end of the fiscal year ending March 2021, and ¥130 million of deferred tax assets was reversed and recognized as an adjustment to income taxes.