Change in the U.S. Subsidiary’s Tax Rate and Decrease in Deferred Tax Assets under the U.S. Tax Reform Law
First written in FY2018-Q3. 1 of 2 entries say "Restated". Latest entry: FY2018.
The whole theme swung hardest in 2018: 6 of 36 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- FY2018RestatedAnnual report
「U.S. tax reform legislation was enacted on 22 December 2017 (local time), resulting in a reduction in the corporate tax rate and other measures effective from 1 January 2018. Accordingly, the statutory effective tax rate used to calculate deferred tax assets and deferred tax liabilities at the U.S. subsidiary decreased from 37.8% to 25.5%. As a result of this tax rate change, deferred tax assets, net of deferred tax liabilities, decreased by ¥26.351 million, while deferred income taxes and other adjustments increased on the debit side by ¥27.489 million.」
Reiterated the change in the U.S. subsidiary's tax rate and the decrease in deferred tax assets resulting from U.S. tax reform legislation, using the finalized full-year figures. - FY2018-Q3First statedAnnual report
「U.S. tax reform legislation was enacted on 22 December 2017 (local time), resulting in a reduction in the corporate tax rate and other measures effective from 1 January 2018. Accordingly, the statutory effective tax rate used to calculate deferred tax assets and deferred tax liabilities at the U.S. subsidiary decreased from 37.7% to 25.5% effective from 1 January 2018. As a result of this tax rate change, deferred tax assets, net of deferred tax liabilities, decreased by ¥44.616 million, while deferred income taxes and other adjustments increased on the debit side by ¥44.079 million.」
For the first time, disclosed that, following enactment of U.S. tax reform legislation, the U.S. subsidiary's statutory effective tax rate changed from 37.7% to 25.5%, resulting in a ¥44.616 million decrease in net deferred tax assets and a ¥44.079 million increase in deferred income taxes and other adjustments.