Change to Calculating Quarterly Tax Expense Using the Estimated Effective Tax Rate

「Previously, tax expenses for the company and its consolidated subsidiaries were calculated using the standard method. However, from the first quarter of the consolidated fiscal year, the method has been changed to calculate tax expense by reasonably estimating the effective tax rate, after applying tax-effect accounting, to income before income taxes for the consolidated fiscal year, and multiplying quarterly income before income taxes by that estimated effective tax rate.」

「Previously, tax expense for the Company and its consolidated subsidiaries was calculated using the standard method. To further improve the efficiency of quarterly closing procedures, from the first quarter the method was changed to one that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and calculates quarterly tax expense by multiplying pretax quarterly income by that estimated effective tax rate.」

「Previously, the Company and its consolidated subsidiaries generally calculated tax expense using the standard method. To further improve the efficiency of quarterly closing, from the first quarter of the current consolidated fiscal year we changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax profit for the consolidated fiscal year and applies that estimated effective tax rate to pretax quarterly profit.」