Impact of the Prolonged and Expanding COVID-19 Pandemic on Demand and Tax Effects
First written in FY2021-Q2. 4 of 8 entries say "Restated". Latest entry: FY2023-Q3.
1 other company's latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「During the cumulative third quarter, although electricity sales decreased due to the impact of COVID-19 and other factors, there was no material overall impact.」
The Company continues to state that the decrease in electricity sales due to the pandemic has continued but has not had a material overall impact, as well as to describe the future risk if the pandemic is prolonged and expands. - FY2023-Q2RestatedAnnual report
「If the pandemic is prolonged and expands further, it may affect electricity sales and other figures in the electric power business and, by affecting the assessment of the recoverability of deferred tax assets, may have a material impact on operating results from the consolidated fiscal year onward.」
The Company continues to describe the future risk of the prolonged and expanding COVID-19 pandemic affecting electricity sales and deferred tax assets. It states that there has been no material overall impact at present. - FY2023-Q1RestatedAnnual report
「If the pandemic is prolonged and expands further, it may affect electricity sales and other figures in the electric power business and, by affecting the assessment of the recoverability of deferred tax assets, may have a material impact on operating results from the consolidated fiscal year onward.」
The Company continues to describe the future risk of COVID-19 affecting electricity sales and deferred tax assets. At the same time, it states that there was no material overall impact during the quarter. - FY2022RestatedAnnual report
「The Company has implemented the following measures mainly to prevent COVID-19 infection in order to ensure a stable electricity supply, but if the spread of infection disrupts business operations, it may affect operating results.」
The risk of the spread of infection affecting business operations and operating results remains, with specific measures described, including alternative work arrangements, support systems, telework, staggered working hours and distributed staffing. - FY2022-Q2SoftenedAnnual report
「If the pandemic expands again, it may affect electricity sales and other figures in the electric power business and, by affecting the assessment of the recoverability of deferred tax assets, may have a material impact on operating results from the consolidated fiscal year onward.」
Although the Company stated that the decrease in electricity sales due to the pandemic had emerged, it said that there had been no material overall impact and changed the stated condition for future risk from “prolonged and expanding” to “if the pandemic expands again.” - FY2022-Q1MitigatedAnnual report
「During the cumulative first quarter, although electricity sales decreased due to the impact of COVID-19 and other factors, there was no material overall impact. The Company believes that COVID-19 will have a certain degree of impact on the consolidated fiscal year, but has determined that, at present, it will not have a material effect on the assessment of the recoverability of deferred tax assets when estimating those assets.」
Although the decrease in electricity sales due to the pandemic has continued, the Company stated that there has been no material overall impact and that there is currently no material impact on the recoverability of deferred tax assets. - FY2021-Q3MaterialisedAnnual report
「Retail electricity sales volumes declined 1.4% from the same period of the previous year, despite a steady increase in high-voltage and extra-high-voltage customers switching to the company as a result of sales activities addressing customer needs. The decline reflected lower operating rates among commercial customers and reduced production by industrial customers, due in part to the impact of COVID-19.」
The reduced operations of commercial customers and lower production by industrial customers due to COVID-19 actually appeared as a 1.4% year-on-year decrease in retail electricity sales. At the same time, the Company stated that the overall impact of the pandemic was not material and that no material impact on the recoverability of deferred tax assets had emerged at present. - FY2021-Q2First statedAnnual report
「During the cumulative second quarter, although the Company experienced a decrease in retail electricity sales due to reduced operations by commercial customers and lower production by industrial customers as a result of the impact of COVID-19 and other factors, as well as a decrease in electricity sales to other companies due to lower market prices and other factors, there was no material overall impact. The Company believes that COVID-19 will have a certain degree of impact on the consolidated fiscal year, but has determined that, at present, it will not have a material effect on the assessment of the recoverability of deferred tax assets when estimating those assets. If the pandemic is prolonged and expands, however, it may affect electricity sales and other figures in the electric power business and, by affecting the assessment of the recoverability of deferred tax assets, may have a material impact on operating results from the consolidated fiscal year onward.」
The impact of COVID-19 on commercial and industrial demand and electricity sales to other companies has already emerged, and the Company has, for the first time, described the possibility of a material impact on operating results through electricity sales and the recoverability of deferred tax assets if the pandemic is prolonged and expands as a standalone risk.