Review of Accounting Estimates in Light of the Impact of COVID-19
First written in FY2021-Q1. 4 of 7 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
12 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual report
「The group's consolidated financial statements are prepared in accordance with accounting standards generally accepted as fair and appropriate in Japan.」
The explanation of accounting estimates based on the continuing impact of COVID-19 in the quarterly report was not repeated as a standalone topic in the annual report for the current year. - FY2023-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates in the section titled “Analysis of Financial Position, Operating Results and Cash Flows by Management” in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the accounting estimates or their assumptions from the annual securities report for the previous fiscal year. - FY2022-Q2RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates in the section titled “Analysis of Financial Position, Operating Results and Cash Flows by Management” in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the accounting estimates or their assumptions from the annual securities report for the previous fiscal year. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the accounting estimates and the assumptions used in those estimates in the section titled “Analysis of Financial Position, Operating Results and Cash Flows by Management” in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the accounting estimates or their assumptions from the annual securities report for the previous fiscal year. - FY2021-Q3RestatedAnnual report
「There have been no material changes to the assumptions used in the accounting estimates regarding the impact of the spread of COVID-19 from those described in the additional information section of the second-quarter report.」
The company states that there have been no material changes from the second-quarter report to the assumptions used in accounting estimates reflecting the impact of COVID-19. - FY2021-Q2Change in the assumption regarding the recovery in market conditionsAnnual report
「Regarding the business environment, although the recovery in market conditions in the FA and industrial-related markets remains weak, conditions in the automotive-related market are improving. We assume that this situation will continue from the second half of the fiscal year onward and that the recovery in performance will strengthen beyond the outlook as of the end of the first quarter.」
The company changed its assumption from the outlook as of the end of the first quarter to one of a stronger recovery in performance from the second half of the fiscal year onward, reflecting the improvement in the automotive-related market. - FY2021-Q1First statedAnnual report
「We had forecast results for the current consolidated fiscal year on the assumption that the automotive-related and industrial equipment-related markets would be significantly affected by COVID-19 and that the recovery in market conditions would be delayed until the second half of the fiscal year. However, in the core Refrigeration and Heating Systems and Electronics businesses, a certain level of demand has continued, exceeding our initial assumptions, while initiatives in the Smart Agriculture business, which we regard as a growth business, have begun to produce results. Accordingly, we have revised our earnings forecast for the cumulative second quarter of the current consolidated fiscal year.」
While making accounting estimates on the assumption that the recovery in market conditions would be delayed by COVID-19, the company revised its earnings forecast for the cumulative second quarter based on conditions in the Refrigeration and Heating Systems, Electronics and Smart Agriculture businesses.