Net income boosted by gain on sale of fixed assets and application of deferred tax assets
First written in FY2018-Q1. 4 of 10 entries say "Restated". Latest entry: FY2025.
Izutsuya moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 3 of 12 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- FY2025Improvement in tax effects following a reassessment of recoverabilityAnnual report
「Following a reassessment of the recoverability of deferred tax assets, the company recognized a tax benefit in adjustments to income taxes, resulting in net income attributable to owners of the parent of ¥999 million, or 103.4% of the previous fiscal year.」
Following a reassessment of the recoverability of deferred tax assets, the company recognized a ¥267 million tax benefit in adjustments to income taxes, increasing net deferred tax assets from ¥405 million to ¥683 million. - FY2021ReframedAnnual report
「Following a reassessment of the recoverability of deferred tax assets, net income attributable to owners of the parent was ¥111 million, or 27.2% of the previous fiscal year.」
The main explanation for net income has shifted from gains on sales of fixed assets and other items to the reassessment of the recoverability of deferred tax assets. - FY2020ReframedAnnual report
「Net income attributable to owners of the parent was ¥409 million, as gains on sales of fixed assets related to the Ube store, among other items, offset a loss on disposal of fixed assets associated with the renovation of the flagship store's sales floors. This compared with a net loss attributable to owners of the parent of ¥2,459 million in the same period of the previous year.」
Although gains on sales of fixed assets and other items continued to boost profit, the composition shifted to net income being formed by offsetting the loss on disposal of fixed assets associated with the flagship store renovation, rather than by deferred tax assets and other items. - FY2020-Q2RestatedAnnual report
「Net income attributable to owners of the parent was ¥331 million, as gains on sales of fixed assets related to the Ube store, among other items, were offset by a loss on disposal of fixed assets associated with the renovation of the flagship store's sales floors. This compared with a net loss attributable to owners of the parent of ¥3,666 million in the same period of the previous year.」
The company continues to describe net income as comprising gains on sales of fixed assets and other items, alongside a loss on disposal of fixed assets associated with the flagship store renovation. - FY2020-Q1ReframedAnnual report
「Net income attributable to owners of the parent was ¥73 million, or 75.7% of the year-earlier period, as gains on sales of fixed assets related to the Ube store, among other items, were offset by a loss on disposal of fixed assets associated with the renovation of the flagship store's sales floors.」
Although gains on sales of fixed assets continued to arise, the composition shifted from net income being boosted by deferred tax assets and other items to profit being reduced by a loss on disposal of fixed assets associated with the flagship store renovation. - FY2019-Q2DroppedAnnual report
「The net loss attributable to owners of the parent was ¥3,666 million, as the company recorded an impairment loss of ¥2,108 million and a provision of ¥1,428 million for business structure improvement as extraordinary losses, among other items, following the decision to close operating stores. This compared with net income attributable to owners of the parent of ¥599 million in the same period of the previous year.」
The gains on sales of fixed assets and tax benefits in adjustments to income taxes previously cited as factors boosting net income no longer appear in the explanation for the quarter, which has shifted to a net loss caused by extraordinary losses associated with store closures. - FY2018RestatedAnnual report
「The Application Guidance on Recoverability of Deferred Tax Assets (ASBJ Guidance No. 26, 28 March 2016) has been applied from the current consolidated fiscal year.」
The company again disclosed its application of the guidance on the recoverability of deferred tax assets. It also recorded a ¥128 million gain on sales of fixed assets as an extraordinary gain. - FY2018-Q3RestatedAnnual report
「Net income attributable to owners of the parent was ¥445 million, compared with a ¥18 million net loss attributable to owners of the parent in the same period of the previous year, as the company recorded a ¥128 million gain on sales of fixed assets as an extraordinary gain and recognized a ¥396 million tax benefit in adjustments to income taxes, mainly as a result of applying the “Guidance on Recoverability of Deferred Tax Assets,” among other factors.」
The company continues to cite the ¥128 million gain on sales of fixed assets and the ¥396 million tax benefit recognized in adjustments to income taxes following application of the guidance on the recoverability of deferred tax assets as factors boosting net income. - FY2018-Q2RestatedAnnual report
「Net income attributable to owners of the parent was ¥599 million, or 212.9% of the year-earlier period, as the company recorded a ¥128 million gain on sales of fixed assets as an extraordinary gain and recognized a ¥401 million tax benefit in adjustments to income taxes, mainly as a result of applying the “Guidance on Recoverability of Deferred Tax Assets,” among other factors.」
The company continues to cite the ¥128 million gain on sales of fixed assets and the ¥401 million tax benefit recognized in adjustments to income taxes following application of the guidance on the recoverability of deferred tax assets as factors boosting net income. - FY2018-Q1First statedAnnual report
「Net income attributable to owners of the parent was ¥526 million, or 357.6% of the year-earlier period, as the company recorded a ¥128 million gain on sales of fixed assets as an extraordinary gain and recognized a ¥392 million tax benefit in adjustments to income taxes, mainly as a result of applying the “Guidance on Recoverability of Deferred Tax Assets,” among other factors.」
The company cited a ¥128 million gain on sales of fixed assets, a ¥392 million tax benefit recognized in adjustments to income taxes, and application of the guidance on the recoverability of deferred tax assets as factors behind the increase in net income.