Tax-Effect Accounting in Connection with the Transition to the Group Tax Sharing System
First written in FY2021-Q3. 2 of 4 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
- FY2024-Q1AdvancedAnnual report
「The company and certain domestic consolidated subsidiaries transitioned from the consolidated tax payment system to the group tax sharing system from the first quarter of the current consolidated fiscal year. Accordingly, their accounting treatment and disclosures for corporate income taxes, local corporate taxes and tax-effect accounting comply with the “Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System” (ASBJ Practical Issues Task Force No. 42, 12 August 2021; hereinafter, “Practical Issues Task Force No. 42”).」
The company completed the previously disclosed transition to the group tax sharing system from the first quarter and applied the related accounting treatment and disclosure requirements. - FY2022-Q1RestatedAnnual report
「The company and certain domestic consolidated subsidiaries are transitioning to the group tax sharing system established under the “Act Partially Amending the Income Tax Act and Other Acts” (Act No. 8 of 2020),」
The company reconfirmed its tax-effect accounting treatment of calculating deferred tax assets and liabilities based on the tax laws before amendment in connection with the transition to the group tax sharing system. - FY2021RestatedAnnual report
「The company and certain domestic consolidated subsidiaries are transitioning to the group tax sharing system established under the “Act Partially Amending the Income Tax Act and Other Acts” (Act No. 8 of 2020),」
The company reconfirmed for the full year its tax-effect accounting treatment in connection with the transition to the group tax sharing system. - FY2021-Q3First statedAnnual report
「The company and certain consolidated subsidiaries have applied the provisions of paragraph 44 of the “Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No. 28, 16 February 2018) to items for which the single-taxpayer system was revised in connection with the transition to the group tax sharing system established under the “Act Partially Amending the Income Tax Act and Other Acts” (Act No. 8 of 2020), in accordance with paragraph 3 of the “Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System” (ASBJ Practical Issues Task Force No. 39, 31 March 2020). However, the amounts of deferred tax assets and deferred tax liabilities are based on the provisions of the tax laws before amendment.」
The Company discloses the tax-effect accounting treatment under which deferred tax assets and liabilities are calculated based on the tax law before the amendments in connection with the transition to the group tax sharing system.