Sumitomo Corporation
Notice Regarding Recognition of Deferred Tax Assets
For the fiscal year ending March 2026, approximately 135 billion yen of deferred tax assets were newly recognized, and about 30 billion yen of profit was recorded under corporate income tax expense in the consolidated Q4 financial statements.
Key Figures
- Amount of Deferred Tax Assets Recognized (Individual Financial Statements): Approximately 135 billion yen (recorded under adjustments for corporate tax)
- Amount of Deferred Tax Assets Recognized (Consolidated Q4 Financial Statements): Approximately 30 billion yen (recorded under corporate income tax expense)
- Applicable Period: Fiscal year ending March 2026 (April 1, 2025 – March 31, 2026)
AI要約
Details of Deferred Tax Asset Recognition
Sumitomo Corporation completed the full acquisition of SCSK Corporation in the fourth quarter of the fiscal year ending March 2026. With the anticipated inclusion in the group tax consolidation system, the estimate of future taxable income was revised, resulting in the recognition of deferred tax assets previously assessed as having low recoverability. Consequently, in the individual financial statements, approximately 135 billion yen of profit was recorded under adjustments for corporate tax, and in the consolidated Q4 financial statements, around 30 billion yen of profit was recorded under corporate income tax expense.
Impact on Financial Results
The recognition of deferred tax assets is reflected in the consolidated financial summary〔IFRS〕for the fiscal year ending March 2026. In consolidated statements, deferred tax assets related to future deductible temporary differences of subsidiaries, etc., are only recognized to the extent likely to be utilized in the future. This accounting estimate revision has had a positive impact on profit.
Sumitomo Corporation
Company overview · Stock price · Financial data · All IR
