Recoverability of deferred tax assets and estimates of future taxable income
First written in FY2017. 4 of 7 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2021.
The whole theme swung hardest in 2020: 20 of 62 companies on the "Worse" side.
- FY2021MaterialisedAnnual report
「Although ¥361 million in employment adjustment subsidies was recorded as extraordinary income, ¥2,015 million in store closure losses was recorded as extraordinary losses for losses associated with temporary closures implemented in response to the state of emergency declared due to the spread of COVID-19. In addition, ¥1,771 million in income taxes—deferred was recorded in connection with the reversal of deferred tax assets, among other factors, resulting, regrettably, in a net loss attributable to owners of the parent of ¥4,949 million for the fiscal year (the previous fiscal year: net income attributable to owners of the parent of ¥3,225 million).」
¥1,771 million in income taxes—deferred was recorded for the full fiscal year in connection with the reversal of deferred tax assets, and the risk concerning estimates of future taxable income was reflected in the actual accounting treatment. - FY2021-Q3MaterialisedAnnual report
「Although ¥361 million in employment adjustment subsidies was recorded as extraordinary income, ¥2,015 million in store closure losses and ¥114 million in impairment losses on investment securities were recorded as extraordinary losses for losses associated with temporary closures implemented in response to the state of emergency declared due to the spread of COVID-19. In addition, ¥928 million was recorded as income taxes—deferred in connection with the reversal of deferred tax assets, among other factors, resulting in a quarterly net loss attributable to owners of the parent of ¥5,423 million (the corresponding period of the previous year: quarterly net income attributable to owners of the parent of ¥1,749 million).」
¥928 million in income taxes—deferred was recorded in connection with the reversal of deferred tax assets, and the risk concerning estimates of future taxable income continued to be reflected in the actual accounting treatment. - FY2021-Q2MaterialisedAnnual report
「Due mainly to the recording of ¥1,205 million in income taxes and other adjustments resulting from the write-down of deferred tax assets, the quarterly net loss attributable to owners of the parent was ¥4,953 million, compared with quarterly net income attributable to owners of the parent of ¥1,622 million in the same period of the previous year.」
The Company recorded ¥1,205 million in income taxes and other adjustments due to the write-down of deferred tax assets, reflecting the risk concerning estimates of future taxable income in the actual accounting treatment. - FY2021-Q1MaterialisedAnnual report
「In addition, the Company recorded ¥2,058 million in store closure losses as an extraordinary loss due to temporary store closures implemented in response to the state of emergency declared following the spread of COVID-19. Together with the recording of ¥2,031 million in income taxes and other adjustments due to the write-down of deferred tax assets, this resulted in a quarterly net loss attributable to owners of the parent of ¥6,435 million, compared with quarterly net income attributable to owners of the parent of ¥915 million in the same period of the previous year.」
The Company actually recorded ¥2,031 million in income taxes and other adjustments due to the write-down of deferred tax assets based on estimated future taxable income. - FY2019RestatedAnnual report
「In assessing the recoverability of deferred tax assets, the Group reasonably estimates future taxable income. Accordingly, if the estimated amount of future taxable income changes, deferred tax assets may be increased or decreased, potentially affecting the Group's operating results and financial position.」
The potential impact of changes in estimated future taxable income on deferred tax assets, operating results and financial position continues to be described. - FY2018RestatedAnnual report
「In assessing the recoverability of deferred tax assets, the Group reasonably estimates future taxable income. Accordingly, if the estimated amount of future taxable income changes, deferred tax assets may be increased or decreased, potentially affecting the Group's operating results and financial position.」
The potential impact of changes in estimated future taxable income on deferred tax assets, operating results and financial position continues to be described as a key accounting estimate. - FY2017First statedAnnual report
「In assessing the recoverability of deferred tax assets, the Group reasonably estimates future taxable income. Accordingly, if the estimated amount of future taxable income changes, deferred tax assets may be increased or decreased, potentially affecting the Group's operating results and financial position.」
The potential impact of changes in estimated future taxable income on deferred tax assets, operating results and financial position is described as a key accounting estimate.