diff --git a/src/core/fonts.js b/src/core/fonts.js
index 9dd9d3db3..19210e02f 100644
--- a/src/core/fonts.js
+++ b/src/core/fonts.js
@@ -148,9 +148,9 @@ function adjustToUnicode(properties, builtInEncoding) {
       if (properties.toUnicode.has(charCode)) {
         continue; // The font dictionary has a `ToUnicode` entry.
       }
-    } else {
+    } else if (properties.hasEncoding) {
       if (
-        properties.hasEncoding &&
+        properties.differences.length === 0 ||
         properties.differences[charCode] !== undefined
       ) {
         continue; // The font dictionary has an `Encoding`/`Differences` entry.
diff --git a/test/pdfs/.gitignore b/test/pdfs/.gitignore
index acdf66ae4..3790b3514 100644
--- a/test/pdfs/.gitignore
+++ b/test/pdfs/.gitignore
@@ -431,6 +431,7 @@
 !annotation-square-circle.pdf
 !annotation-square-circle-without-appearance.pdf
 !annotation-stamp.pdf
+!issue14048.pdf
 !annotation-fileattachment.pdf
 !annotation-text-widget.pdf
 !annotation-choice-widget.pdf
diff --git a/test/pdfs/issue14048.pdf b/test/pdfs/issue14048.pdf
new file mode 100644
index 000000000..1cf071ee0
Binary files /dev/null and b/test/pdfs/issue14048.pdf differ
diff --git a/test/test_manifest.json b/test/test_manifest.json
index 320cb303e..008196a58 100644
--- a/test/test_manifest.json
+++ b/test/test_manifest.json
@@ -4301,6 +4301,12 @@
        "rounds": 1,
        "type": "eq"
     },
+    {  "id": "issue14048",
+       "file": "pdfs/issue14048.pdf",
+       "md5": "770026875a93dc44a187905f4dcd3de2",
+       "rounds": 1,
+       "type": "text"
+    },
     {  "id": "blendmode",
       "file": "pdfs/blendmode.pdf",
       "md5": "5a86e7e9333e93c58abc3f382e1e6ea2",