Tax-Effect Accounting Treatment Following the Transition to the Group Tax-Sharing System
First written in FY2022-Q1. 1 of 4 entries say "Restated". Latest entry: FY2023-Q1.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
- FY2023-Q1AchievedAnnual report
「The company and its consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax-sharing system from the current first quarter of the consolidated fiscal year. Accordingly, they are applying the “Practical Solution on the Accounting Treatment and Disclosure under the Group Tax-Sharing System” (Practical Issues Task Force No. 42, 12 August 2021; hereinafter, “Practical Issues Task Force No. 42”) to the accounting treatment and disclosure of corporate income taxes, local corporate taxes and tax-effect accounting.」
The company implemented the transition to the group tax sharing system from the first quarter of the current consolidated fiscal year, rather than in FY2022 as previously scheduled, and transitioned to accounting and disclosure based on Practical Solution Report No. 42. - FY2022AdvancedAnnual report
「The Company and its consolidated subsidiaries will transition from the consolidated taxation system to the group aggregation system from the next consolidated fiscal year.」
The company has specified that the transition to the group tax sharing system will take place at the beginning of the next consolidated fiscal year and plans to apply Practical Solution Report No. 42. - FY2022-Q3RestatedAnnual report
「With respect to 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), and items for which the single-company tax payment system was revised in conjunction with that transition, the company and its consolidated subsidiaries did not apply the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to Paragraph 3 of the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System (ASBJ PITF No. 39, 31 March 2020). Accordingly, deferred tax assets and deferred tax liabilities were measured based on the provisions of the tax laws before amendment.」
The company continues to apply transitional treatment for tax-effect accounting accompanying the transition to the group tax sharing system. - FY2022-Q1First statedAnnual report
「With respect to 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), and items for which the single-company tax payment system was revised in conjunction with that transition, the company and its consolidated subsidiaries did not apply the provisions of Paragraph 44 of the Implementation Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018), pursuant to Paragraph 3 of the Practical Solution on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax Sharing System (ASBJ PITF No. 39, 31 March 2020). Accordingly, deferred tax assets and deferred tax liabilities were measured based on the provisions of the tax laws before amendment.」
For tax-effect accounting accompanying the transition to the group tax sharing system, the company applies transitional treatment based on Practical Solution Report No. 42.