Tax Effect Accounting Treatment Associated with the Transition to the Group Consolidated Taxation System
First written in FY2021-Q2. 5 of 7 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
- FY2023-Q3RestatedAnnual report
「The Company and its consolidated subsidiaries have transitioned from the consolidated taxation system to the group relief system from the first quarter of the current fiscal year. Accordingly, accounting and disclosure for corporate income taxes, local corporate taxes and tax-effect accounting are conducted in accordance with "Accounting Treatment and Disclosure for Applying the Group Relief System" (Practical Response Report No. 42, 12 August 2021, hereinafter "Practical Response Report No. 42").」
The Company continues in the third quarter to apply the accounting and disclosure treatment accompanying the transition to the group relief system implemented from the first quarter of the current fiscal year. - FY2023-Q2RestatedAnnual report
「The Company and its consolidated subsidiaries have transitioned from the consolidated taxation system to the group relief system from the first quarter of the current fiscal year. Accordingly, accounting and disclosure for corporate income taxes, local corporate taxes and tax-effect accounting are conducted in accordance with "Accounting Treatment and Disclosure for Applying the Group Relief System."」
The Company reconfirms the transition to the group relief system implemented from the first quarter of the current fiscal year and the accompanying accounting and disclosure treatment. - FY2023-Q1AchievedAnnual report
「The Company and its consolidated subsidiaries transitioned from the consolidated taxation system to the group relief system beginning with the first quarter of the current consolidated fiscal year. Accordingly, the accounting and disclosure of corporate tax, local corporate tax and tax effect accounting are conducted in accordance with the “Accounting and Disclosure Treatment When Applying the Group Relief System” (Practical Response Report No. 42, 12 August 2021).」
The transition from the previously planned consolidated taxation system to the group relief system took effect from the first quarter of the current fiscal year, and the new accounting and disclosure standards were applied. - FY2022-Q3RestatedAnnual report
「Our company and certain domestic consolidated subsidiaries will transition to the group sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020). For items revised in connection with the transition from the consolidated taxation system to the group sharing system, we apply the treatment under Paragraph 3 of Practical Solution No. 39 on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Sharing System and do not apply Paragraph 44 of the Implementation Guidance on Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
The Company continues to recognize deferred tax assets and liabilities based on the tax laws before the amendments in connection with the transition to the group relief system. - FY2022-Q1RestatedAnnual report
「The company and certain domestic consolidated subsidiaries apply the transitional treatment under Paragraph 3 of Practical Solution No. 39, Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Tax-Sharing System, to deferred tax assets and deferred tax liabilities for items created by the transition to the group tax-sharing system and by revisions to the standalone taxation system made in connection with that transition, using the provisions of the tax laws before amendment.」
The Company continues to apply the tax-effect accounting treatment accompanying the transition to the group relief system. - FY2021-Q3RestatedAnnual report
「The Company and certain domestic consolidated subsidiaries have applied the treatment under paragraph 3 of "Accounting Treatment for the Application of Tax Effect Accounting Related to the Transition from the Consolidated Taxation System to the Group Relief System." Accordingly, for items subject to the transition to the group relief system established under the "Act Partially Amending the Income Tax Act and Other Acts" (Act No. 8 of 2020), and for items whose treatment under the single-entity taxation system was revised in connection with that transition, they have calculated deferred tax assets and deferred tax liabilities based on the provisions of the tax laws before the amendments.」
The Company continues to recognize deferred tax assets and liabilities based on the tax laws before the amendments in connection with the transition to the group relief system. - FY2021-Q2First statedAnnual report
「Our company and certain domestic consolidated subsidiaries will transition to the group sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020). For items revised in connection with the transition from the consolidated taxation system to the group sharing system, we apply the treatment under Paragraph 3 of Practical Solution No. 39 on the Application of Tax Effect Accounting for the Transition from the Consolidated Taxation System to the Group Sharing System and do not apply Paragraph 44 of the Implementation Guidance on Tax Effect Accounting. Deferred tax assets and liabilities are therefore measured based on the provisions of the tax laws before amendment.」
This is the first disclosure that, in connection with the transition to the group relief system, deferred tax assets and liabilities are recognized based on the tax laws before the amendments.