Increase in vehicle and housing equipment breakdowns and rent arrears
First written in FY2016. 2 of 4 entries say "Restated". Latest entry: FY2020.
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- FY2020WorsenedAnnual report
「A substantial increase in rent arrears under the rent guarantee program could affect earnings through higher provisions for doubtful accounts and other factors.」
The increase in rent arrears and additional provisions for doubtful accounts associated with COVID-19 are explicitly identified as additional risks to the guarantee business. - FY2019RestatedAnnual report
「There is a risk of more breakdowns than anticipated under vehicle extended warranty and maintenance programs and residential equipment extended warranty services, and a risk of more rent arrears than anticipated under rent guarantee programs.」
It reiterates the risk of breakdowns and rent arrears exceeding expectations in the guarantee business. - FY2017RestatedAnnual report
「There is a risk of more breakdowns than anticipated under vehicle extended warranty and maintenance programs and residential equipment extended warranty services, and a risk of more rent arrears than anticipated under rent guarantee programs.」
It reiterates the risk of breakdowns and rent arrears exceeding expectations in the guarantee business. - FY2016First statedAnnual report
「There is a risk of more breakdowns than anticipated under vehicle extended warranty and maintenance programs and residential equipment extended warranty services, and a risk of more rent arrears than anticipated under rent guarantee programs.」
Although these risks are addressed through guarantee fees and reinsurance, it states that breakdowns and rent arrears exceeding expectations could lead to higher reinsurance premiums and other effects.