Accounting Estimates Assuming the Impact of COVID-19 Will Continue for Approximately One Year
First written in FY2021-Q1. 3 of 7 entries say "Restated". Latest entry: FY2024.
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- FY2024Outlook for the persistence of the impact of infectious diseasesAnnual report
「In the food-service business, we assume that the impact of COVID-19 will continue to some extent into the following consolidated fiscal year, but that there will be no significant impact on the economic environment from a renewed spread of the infection.」
The company assumes that there will be no significant renewed spread of the infection, while its accounting and business assumptions indicate that some impact will remain in the following consolidated fiscal year. - FY2023-Q3RestatedAnnual report
「We expect COVID-19 to gradually subside as measures to prevent the spread of infection become established alongside economic activity, with revenue recovering gradually through around June 2024. There have been no material changes to the other assumptions.」
The company continues to assume for accounting purposes that revenue will recover gradually through around June 2024. - FY2023-Q2Further revision to the recovery outlookAnnual report
「We expect COVID-19 to gradually subside as measures to prevent the spread of infection become established alongside economic activity, with revenue recovering gradually through around June 2024. There have been no material changes to the other assumptions.」
The company presented an accounting outlook that revenue from food-service operations and other businesses would recover gradually through around June 2024. - FY2022-Q1RestatedAnnual report
「There have been no material changes to the assumptions, including the expected timing of the containment of COVID-19, described under “Significant Accounting Estimates” in the securities report for the previous consolidated fiscal year.」
It is stated that there have been no material changes to the accounting assumptions concerning the timing of the containment of COVID-19 and other matters. - FY2021-Q3Downward revision to the timing and level of recoveryAnnual report
「Based on these circumstances, we initially forecast that food service sales would recover to pre-pandemic levels around June 2021. However, because the outlook for when the pandemic would subside remained uncertain, we revised this timing to around mid-2022 and assumed that sales at existing stores would not return to pre-pandemic levels even after the pandemic subsided. On this basis, we assessed the recognition of impairment losses on fixed assets, including goodwill, and the recoverability of deferred tax assets.」
The accounting assumptions were changed by revising the expected timing of recovery in food service sales from around June 2021 to around mid-2022 and assuming that sales at existing stores would not return to previous levels even after the pandemic subsided. - FY2021-Q2RestatedAnnual report
「At this stage, we determined that there were no circumstances requiring a change to the assumption stated in the annual securities report for the previous consolidated fiscal year that the impact of COVID-19 would continue for approximately one year, until around June 2021, and accordingly assessed the recognition of impairment losses on fixed assets and the recoverability of deferred tax assets.」
The company has not changed its assumption that the impact of COVID-19 would continue until around June 2021, and is assessing impairment losses and the recoverability of deferred tax assets. - FY2021-Q1First statedAnnual report
「At this stage, we determined that there were no circumstances requiring a change to the assumption stated in the annual securities report for the previous consolidated fiscal year that the impact of COVID-19 would continue for approximately one year, and accordingly assessed the recognition of impairment losses on fixed assets and the recoverability of deferred tax assets.」
The company has not changed the previous fiscal year’s assumption that the impact of COVID-19 would continue for approximately one year, and is assessing the recognition of impairment losses and the recoverability of deferred tax assets.