Accounting estimates based on assumptions regarding COVID-19
First written in FY2020. 8 of 16 entries say "Restated". Latest entry: FY2026.
- FY2026Update to the base year for accounting estimatesAnnual report
「For forecasts from the fiscal year ending March 2027 onward, based on forecasts for the future published by travel and tourism operators, the company uses the fiscal year ending March 2026 as the benchmark and calculates sales, gross profit, selling, general and administrative expenses and other items based on the latest actual results and special factors at each business location and store.」
The company has updated the base year for forecasts used in the impairment of fixed assets and the recoverability of deferred tax assets from the fiscal year ending March 2025 to the actual results for the fiscal year ending March 2026. - FY2025Update to the base year for accounting estimatesAnnual report
「For forecasts from the fiscal year ending March 2026 onward, based on forecasts for the future published by travel and tourism operators, the company uses the fiscal year ending March 2025 as the benchmark and calculates sales, gross profit, selling, general and administrative expenses and other items based on the latest actual results and special factors at each business location and store.」
The company has updated the benchmark for forecasts used in accounting estimates from the actual results for the fiscal year ending March 2024 in the previous fiscal year to the actual results for the fiscal year ending March 2025 in the current fiscal year. - FY2024Update to the base year for accounting estimatesAnnual report
「For forecasts from the fiscal year ending March 2025 onward, based on forecasts for the future published by travel and tourism operators, the company uses the fiscal year ending March 2024 as the benchmark and calculates sales, gross profit, selling, general and administrative expenses and other items based on the latest actual results and special factors at each business location and store.」
The company has updated the benchmark for forecasts used in accounting estimates from approximately 90% of the 2019 level to the actual results for the fiscal year ending March 2024. - FY2024-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no material changes to the assumptions described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning the future spread and timing of containment of COVID-19.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2024-Q1RestatedAnnual report
「During the three months ended the first quarter, there were no material changes to the assumptions described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning the future spread and timing of containment of COVID-19.」
The company states that there have been no material changes to the assumptions used in accounting estimates, including those concerning the spread and expected subsiding of the infectious disease. - FY2023Changed the sales recovery assumption from approximately 66.3% to approximately 90%Annual report
「For the sales forecasts for the souvenir wholesale, souvenir retail and souvenir manufacturing businesses for the fiscal year ending March 2024, based on forecasts for the future published by relevant government ministries and agencies and travel and tourism operators, the company has used approximately 90% of 2019, before the outbreak of COVID-19, as the benchmark and」
The company has changed the sales recovery assumption used in accounting estimates from approximately 66.3% of the 2019 level in the previous fiscal year to approximately 90% in the following fiscal year. - FY2023-Q3RestatedAnnual report
「During the nine months ended the third quarter, there were no material changes to the assumptions described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning the future spread and timing of containment of COVID-19.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2023-Q2RestatedAnnual report
「During the six months ended the second quarter, there were no material changes to the assumptions described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning the future spread and timing of containment of COVID-19.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2023-Q1RestatedAnnual report
「During the three months ended the first quarter, there were no material changes to the assumptions described in the annual securities report for the previous consolidated fiscal year, including assumptions concerning the future spread and timing of containment of COVID-19.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no material changes to the assumptions, including those concerning the future spread and expected subsiding of COVID-19, described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2022-Q1RestatedAnnual report
「During the three months ended the first quarter, there were no material changes to the assumptions, including those concerning how the novel coronavirus disease would spread and when it would end, described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to the assumptions used in accounting estimates concerning the spread and expected subsiding of the infectious disease. - FY2021Specified the assumptions regarding the impact of the infection used in accounting estimatesAnnual report
「First quarter: sales decreased by approximately 60% from the first quarter of the fiscal year ending March 2020 Second quarter: sales decreased by approximately 40% from the second quarter of the fiscal year ending March 2020 Third quarter: sales decreased by approximately 30% from the third quarter of the fiscal year ending March 2020 Fourth quarter: sales decreased by approximately 10% from the fourth quarter of the fiscal year ending March 2019, as the effects of COVID-19 had already emerged from the fourth quarter of the fiscal year ending March 2020 Sales are expected to normalize from the first quarter of the fiscal year ending March 2023 onward」
The company has specified the period during which the infectious disease would continue to have an impact and the rate of sales decline by quarter, and is using the assumption that sales will normalize from the first quarter of the fiscal year ending March 2023 in its accounting estimates. - FY2021-Q3RestatedAnnual report
「Our Group has made accounting estimates including the valuation of inventories, impairment accounting for fixed assets and the recoverability of deferred tax assets based on the assumption that the effects of COVID-19 would continue into the following fiscal year, given the uncertainty of a prolonged impact and the lack of any prospect yet of the situation subsiding.」
The company has continued making accounting estimates for inventories, fixed assets and deferred tax assets based on the assumption that the effects of the infectious disease will continue into the following fiscal year. - FY2021-Q2Extended the assumed impact of the infection through the following fiscal yearAnnual report
「Our Group expects the effects of COVID-19 to improve gradually, taking into account the uncertainty of a prolonged impact and the effects of tourism support programs implemented by the national and local governments. However, with no prospect yet of the situation subsiding, we have assumed that the effects will continue into the following fiscal year and have made accounting estimates including the valuation of inventories, impairment accounting for fixed assets and the recoverability of deferred tax assets.」
The company has changed its accounting estimate from the previous assumption that the effects would remain severe at least through the end of September 2020 to the assumption that the infectious disease would continue to have an impact in the following fiscal year. - FY2021-Q1Extended the assumed period of the impact of the infectionAnnual report
「Our Group has assumed that the effects of COVID-19 would remain severe at least through the end of September 2020, despite the uncertainty of a prolonged impact, then begin to improve gradually and have largely subsided by the end of the fiscal year, and has made accounting estimates including the valuation of inventories, impairment accounting for fixed assets and the recoverability of deferred tax assets.」
The company has extended the assumption that the severe effects of the infectious disease would continue from at least the end of June 2020, as previously assumed, to the end of September 2020, and has made accounting estimates accordingly. - FY2020First statedAnnual report
「In making accounting estimates, including the valuation of inventories, impairment accounting for fixed assets and the recoverability of deferred tax assets, we have assumed that the effects of COVID-19 would remain severe at least through the end of June 2020, despite the uncertainty of a prolonged impact, then begin to improve gradually and have largely subsided by the end of the fiscal year.」
Regarding the effects of COVID-19, the company has made accounting estimates for inventories, fixed assets and deferred tax assets based on the assumption that the severe situation would continue through the end of June 2020, then improve and largely subside by the end of the fiscal year.