Accounting estimates based on assumptions about the end of the COVID-19 impact and recovery in demand
First written in FY2021-Q1. 3 of 7 entries say "Restated". Latest entry: FY2023.
6 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual report
「Significant Accounting Estimates」
The assumptions regarding COVID-19 subsiding and demand recovering, which had been disclosed through the previous fiscal year, disappeared from this year's significant accounting estimates, which instead described estimates for impairment of property, plant and equipment, goodwill and deferred tax assets. - FY2023-Q3RestatedAnnual report
「There were no material changes to the assumptions concerning the impact of COVID-19 described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year.」
The accounting estimate assumptions concerning the impact of the infection were unchanged. - FY2022-Q3RestatedAnnual report
「There were no material changes to the assumptions concerning the impact of the spread of COVID-19 described in the annual securities report for the previous consolidated fiscal year, despite the addition of uncertainty from the renewed spread of infections caused by a new, highly transmissible variant, because orders were improving.」
The accounting estimate assumptions concerning the impact of the infection were left materially unchanged despite uncertainty from the variant, in light of improving orders. - FY2022-Q2RestatedAnnual report
「There were no material changes to the assumptions concerning the impact of the spread of COVID-19 described in the annual securities report for the previous consolidated fiscal year.」
The assumptions regarding the infection subsiding and recovery were unchanged from the previous consolidated fiscal year. - FY2021-Q3Specification of recovery assumptions by segmentAnnual report
「The Group has made accounting estimates, including judgments on the recoverability of deferred tax assets and impairment testing of property, plant and equipment, based on the expectation of a gradual recovery toward conditions comparable to those before the impact of COVID-19 from the second half of the fiscal year ending March 2022. By major segment, the group has assumed that the impact of lower demand for office furniture resulting from the expansion of working from home will be minor over the medium term in the housing and living-related segment, while new demand related to the new normal will emerge. In the inspection and measurement segment, estimates are based on the assumption that demand for inspection equipment for semiconductor and battery components will increase.」
While maintaining the assumption of a gradual recovery from the second half of the fiscal year ending March 2022, the company specified segment-specific accounting assumptions, including new demand resulting from the new normal in the housing and living-related segment and increased demand for inspection equipment for semiconductors and battery components in the inspection and measurement segment. - FY2021-Q2SoftenedAnnual report
「The Group has made accounting estimates, including judgments on the recoverability of deferred tax assets and impairment testing of property, plant and equipment, based on the assumption that the spread of COVID-19 would begin to subside by the first half of the fiscal year ending March 2022 and that demand would recover to levels comparable to those before the impact of COVID-19 from the second half of that fiscal year.」
The assumption that the infection would subside and demand recover was deferred from the second half of the fiscal year ending March 2021 to the second half of the fiscal year ending March 2022. - FY2021-Q1First statedAnnual report
「The Group has made accounting estimates, including judgments on the recoverability of deferred tax assets and impairment testing of property, plant and equipment, based on the assumption that the current social disruption would settle by the middle of the fiscal year ending March 2021 and that recovery would begin in the second half of that fiscal year. However, the spread of COVID-19 and its impact are changing from day to day, and estimates of when it will subside involve uncertainty, so actual results may differ from these estimates.」
Based on the assumption that the social disruption caused by the infection would subside by the middle of the fiscal year ending March 2021 and recovery would begin in the second half, the company made accounting estimates for deferred tax assets and impairment of property, plant and equipment. The uncertainty was also disclosed.