Application of Tax Effect Accounting upon the Transition to the Group Tax-Sharing System
First written in FY2021-Q1. 2 of 5 entries say "Advanced", first in FY2022. Latest entry: FY2023-Q3.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
- FY2023-Q3RestatedAnnual report
「Our company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first-quarter consolidated accounting period. Accordingly, the accounting treatment and disclosures for corporate income taxes, local corporate taxes, and tax-effect accounting comply with the Practical Solution Report on Accounting Treatment and Disclosure When Applying the Group Tax Sharing System (Practical Solution Report No. 42, 12 August 2021; hereinafter, “Practical Solution Report No. 42”). In addition, pursuant to paragraph 32(1) of Practical Solution Report No. 42, the effects of the change in accounting policy accompanying the adoption of Practical Solution Report No. 42 are deemed to be nonexistent.」
The transition to the group tax sharing system, which began in the first quarter, and the related accounting treatment and disclosures under Practical Solution Report No. 42 are being reconfirmed. - FY2023-Q2RestatedAnnual report
「The company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax sharing system from the first quarter. Accordingly, the accounting and disclosure treatment for corporation tax, local corporation tax and tax effect accounting is conducted in accordance with Practical Solution on the Accounting and Disclosure under the Group Tax Sharing System (ASBJ PITF No. 42, 12 August 2021, hereinafter “ASBJ PITF No. 42”).」
The transition to the group tax sharing system, which began in the first quarter, and the related accounting treatment and disclosures under Practical Solution Report No. 42 are being reconfirmed. - FY2023-Q1AdvancedAnnual report
「The Company and certain domestic consolidated subsidiaries have transitioned from the consolidated taxation system to the group tax-sharing system from the beginning of the first quarter of the current fiscal year.」
The transition from the consolidated taxation system to the group tax sharing system, which had been scheduled for the previous fiscal year, was implemented from the current first-quarter consolidated accounting period. - FY2022AdvancedAnnual report
「Our company and certain domestic consolidated subsidiaries will transition from the consolidated taxation system to the group tax sharing system from the following consolidated fiscal year.」
Regarding the transition to the group tax sharing system, the company specified, in its treatment for FY2021 adoption, that the transition was scheduled to take place from the following consolidated fiscal year. - FY2021-Q1First 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.」
For tax-effect accounting associated with the transition to the consolidated taxation system, deferred tax assets and liabilities are being measured under the tax laws prior to the amendment, in accordance with Practical Solution Report No. 39.