Impact of COVID-19 on Accounting Estimates
First written in FY2022-Q2. 1 of 2 entries say "Worsened", first in FY2022. Latest entry: FY2022.
The whole theme swung hardest in 2026: 5 of 22 companies on the "Worse" side.
- FY2022WorsenedAnnual report
「The company expects the impact of COVID-19 to remain to a certain extent during the fiscal year ending March 2023. It is making accounting estimates on the assumption that customer demand will recover to approximately the same level as before the spread of the infection after COVID-19 subsides.」
The company assumed that the impact of the infection would remain to a certain extent during the fiscal year ending March 2023 and estimated impairment losses on fixed assets and the recoverability of deferred tax assets. It recorded ¥153.899 million in impairment losses on fixed assets and ¥2,305.206 million in deferred tax assets. - FY2022-Q2First statedAnnual report
「Although it is difficult to accurately predict how the infection will spread or when it will subside, our group has made accounting estimates, including impairment losses on fixed assets and the recoverability of deferred tax assets, on the assumption that the impact of the spread of the infection will remain to a certain extent during the fiscal year ending March 2022. If the impact of the spread of the infection continues for an extended period, it may affect our financial position, business performance and cash flows in the future.」
Based on the assumption that the timing of the end of COVID-19 and other factors could not be predicted, the company first disclosed as an accounting uncertainty that it was estimating impairment losses on fixed assets and the recoverability of deferred tax assets on the assumption that the impact would remain during the fiscal year ending March 2022.