Risk of incurring guarantee liability under a non-recourse loan
First written in FY2018. 6 of 7 entries say "Restated". Latest entry: FY2023.
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- FY2023RestatedAnnual report
「The above indemnity does not generally guarantee performance of the loan obligations. However, if the lender incurs losses as a result of an event covered by the indemnity, the group may bear indemnity liability, which could affect the group's performance.」
The limited risk of indemnity liability arising in connection with non-recourse loans continues to be disclosed. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no significant changes in the occurrence of major risks that management recognizes could materially affect the financial condition, operating results or cash flows of the consolidated companies, or in the matters concerning business and other risks described in the annual securities report for the previous fiscal year, among the matters concerning business conditions, accounting and other matters described in the current quarterly report.」
It concludes that there have been no material changes regarding the risk of indemnity liability arising in connection with non-recourse loans. - FY2020RestatedAnnual report
「The above indemnity does not generally guarantee performance of the loan obligations. However, if the lender incurs losses as a result of an event covered by the indemnity, the group may bear indemnity liability, which could affect the group's performance.」
The limited risk of indemnity liability arising in connection with non-recourse loans continues to be disclosed. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no significant changes in the matters described in the quarterly report concerning business conditions and financial information that could materially affect investors’ decisions, or in the business risks described in the securities report for the previous fiscal year.」
It states that there have been no material changes regarding the risk of indemnity liability arising in connection with non-recourse loans. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It states that there have been no material changes regarding the risk of indemnity liability arising in connection with non-recourse loans. - FY2019-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no significant changes in the matters described in the quarterly report concerning business conditions and financial information that could materially affect investors’ decisions, or in the business risks described in the securities report for the previous fiscal year.」
It states that there have been no material changes regarding the risk of indemnity liability arising in connection with non-recourse loans. - FY2018First statedAnnual report
「The above indemnity does not generally guarantee performance of the loan obligations. However, if the lender incurs losses as a result of an event covered by the indemnity, the group may bear indemnity liability, which could affect the group's performance.」
The risk of indemnity liability arising in connection with an SPC's non-recourse loan is expressly described in the event of fraud, tortious acts involving intent or gross negligence, or violations of environmental or hazardous materials regulations.