Risk of Higher Corporate Tax Burden Following the Utilization of Tax Loss Carryforwards
First written in FY2017. 4 of 5 entries say "Materialised", first in FY2018-Q1. Latest entry: FY2020-Q1.
Star Flyer moved to the "Worse" side of this theme in 2017, 7 years before the typical company in this theme (2024).
The whole theme swung hardest in 2026: 28 of 57 companies on the "Worse" side.
5 other companies' latest entry also says "Materialised".
- FY2020-Q1MaterialisedAnnual report
「Corporate tax, inhabitant tax and enterprise tax 59 Deferred corporate taxes and other taxes 64 Total corporate taxes and other taxes 123 Quarterly net loss (△) △ 50」
In the first quarter, the company recorded total corporate taxes and other taxes of ¥123 million against pretax quarterly net income of ¥73 million, resulting in a quarterly net loss of ¥50 million. The risk that the tax burden would affect profit and cash flow has materialised. - FY2018MaterialisedAnnual report
「This was mainly due to a ¥1,353 million decrease in cash resulting from payments of corporate taxes and other taxes, up 201.1% from the previous fiscal year, as well as pretax net income of ¥2,733 million, down 7.9%, and depreciation and amortisation of ¥1,426 million, up 4.5%.」
Following the utilisation of tax loss carryforwards, the amount paid for corporate taxes and other taxes increased to ¥1,353 million, resulting in a full-year impact from the tax burden. - FY2018-Q2MaterialisedAnnual report
「Meanwhile, total corporate taxes and other taxes increased, partly because tax loss carryforwards were utilised in the previous fiscal year, resulting in quarterly net income of ¥1,198 million, down 11.2% year on year.」
The increase in corporate taxes and other taxes following the utilisation of tax loss carryforwards resulted in an actual 11.2% year-on-year decline in quarterly net income. - FY2018-Q1MaterialisedAnnual report
「Meanwhile, total corporate taxes and other taxes increased, partly because tax loss carryforwards were utilised in the previous fiscal year, resulting in quarterly net income of ¥348 million, down 22.3% year on year.」
The increase in total corporate taxes and other taxes following the utilisation of tax loss carryforwards resulted in an actual 22.3% year-on-year decline in quarterly net income. - FY2017First statedAnnual report
「The tax loss carryforwards were eliminated during fiscal 2016. If corporate tax, inhabitant tax and enterprise tax based on normal tax rates are applied from the beginning of a future period, net income and cash flow could be affected.」
This is the first standalone disclosure of the risk that the elimination of tax loss carryforwards would result in a normal tax burden. The Company recorded total income taxes of ¥1,036 million for the year, contributing to a year-on-year decline in net income.