Sansan, Inc. (the “Company”) announces today that it will book the following deferred tax assets in the financial results for the fiscal year ended May 31, 2020 (“FY2019”).
The Company would like to advise that the consolidated full-year earnings forecasts for FY2019, announced on April 13, 2020, have been revised, as set out below. The forecast for profit attributable to owners of parent had previously remained undisclosed, as the Company had been carefully scrutinizing the forecast figures.
As a result of careful consideration of the recoverability of deferred tax assets based on FY2019, future performance trends and other factors, the Company has decided to book deferred tax assets of ¥145 million for FY2019. As a result, it is expected that the corporate tax adjustment amount (- denotes profit) will be recorded as -¥145 million yen in FY2019.
Since the Sansan Business and the Eight Business have performed well, net sales and operating profit are expected to exceed the previously announced values. Ordinary profit is expected to fall below the previously announced value, as loss on cancellation of rental contracts charges of ¥187 million will be recorded as non-operating expenses, as was announced on May 29, 2020. Profit attributable to owners of parent had previously remained undisclosed but, as stated in 1. above, we have newly disclosed this figure because we were able to scrutinize the forecast figures for the amount of deferred tax assets recorded and the corporate tax adjustment amount.
* Forward-looking statements, including the consolidated forecasts stated in these materials, are based on information currently available to the Company and certain assumptions deemed reasonable. Results may differ materially from the consolidated forecasts due to various factors.