Komori
Sony Group (6758) · RiskAchieved

Risks related to contractual and systems responses to LIBOR discontinuation and the transition to alternative reference rates

First written in FY2022. 1 of 3 entries say "Mitigated", first in FY2023. Latest entry: FY2024.

3entries
3years
0from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseFirst statedFY2022MitigatedFY2023 – FY20242022: 120222023: 120232024: 12024
Same theme, other companies
Transition Risk from LIBOR Cessation and Interest Rate Benchmark ReformA theme 14 companies write about · 13 as a headwind · 1 as a tailwind

The whole theme swung hardest in 2023: 1 of 9 companies on the "Worse" side.

1 other company's latest entry also says "Achieved".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2024AchievedAnnual report

    「For contracts held by Sony as of 31 March 2023 that reference US dollar LIBOR, the company had completed the execution of amended contracts for the transition to alternative reference rates as of the end of March 2024.」

    For contracts referencing US dollar LIBOR, the company completed the execution of amended contracts to transition to alternative reference rates by the end of March 2024.
  2. FY2023MitigatedAnnual report

    「During the period from 31 March 2023 through the date of filing of this document, the company completed the execution of amended contracts for the transition to alternative reference rates.」

    For the LIBOR transition, changes to business processes and risk management were largely completed, and amended contracts were executed for some loans and interest-rate swaps. However, financial instruments totaling ¥100.859 billion had not yet transitioned, and the risk of contract amendments by the end of June 2023 remained.
  3. FY2022First statedAnnual report

    「Accordingly, there is a risk that contracts cannot be amended smoothly by June 2023, when US dollar LIBOR settings such as 1-month, 3-month and 6-month LIBOR are discontinued.」

    For the first time, the company separately disclosed the risks of amending contracts and transitioning systems, business processes, risk management and valuation models associated with the discontinuation of US dollar LIBOR. As of the end of March 2022, financial instruments totaling ¥105.183 billion had not yet transitioned to alternative rates.
Moved together

"Growth, Stable Earnings and Risk Control Areas, and ROIC by Business" moved the same way as this thread, in the same document, in 2 of its 3 moves.

222222★123456
  1. ★This thread
  2. 1Growth, Stable Earnings and Risk Control Areas, and ROIC by Business2×
  3. 2Dependence on external business partners and supply, quality and information-management risks2×
  4. 3Pursuing Emotional Impact and Sustainable Growth Through a Recurring-Revenue Business2×
  5. 4Creating a Community of Interest through Direct-to-Consumer and Content IP2×
  6. 5Maintaining the world's No.1 position in imaging and achieving the world's No.1 position in sensing2×
  7. 6Enhancing Earnings per Share and Shareholder Value Through Share Buybacks2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Sony Group yet.
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Risks related to contractual and systems responses to LIBOR discontinuation and the transition to alternative reference rates | SONY GROUP CORPORATION (6758) | Komori