Economic, Credit and Market Risks From COVID-19
First written in FY2020. 7 of 14 entries say "Restated". Latest entry: FY2024.
Jimoto Holdings moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 11 of 30 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「At きらやか銀行, some business partners continued to experience further deterioration in their business conditions even after the COVID-19 pandemic subsided. The bank therefore reviewed its policy for providing management support to business partners and recognized a substantial amount of credit-related expenses.」
The focus of the risk explanation has shifted from the direct economic slowdown caused by the infectious disease to rehabilitation support and credit-related expenses for business partners whose conditions are deteriorating even after the COVID-19 pandemic. - FY2024-Q3RestatedAnnual report
「The company will continue working to maintain and expand the provision of credit to small and medium-sized businesses and other regional enterprises through the exercise of its financial intermediation function, as well as to improve various services, by supporting businesses affected by COVID-19 and other factors.」
The company has indicated its policy of continuing to support businesses affected by the infectious disease and other factors and to maintain and expand the provision of credit. - FY2024-Q1RestatedAnnual report
「The company recognizes that COVID-19 has had a widespread negative impact on regional economies for more than 3 years and that many local companies still require support.」
The company continues to recognize the long-term impact of the infectious disease on regional economies and the presence of local companies that still require support as factors underlying its application for public funds. - FY2023RestatedAnnual report
「Borrowers affected by COVID-19 continue to require support, and this has been reflected in the allowance for loan losses.」
The company continues to recognize the need to support borrowers affected by the infectious disease and has reflected this in its classification assessments for individual borrowers. No additional blanket provision has been made. - FY2023-Q3RestatedAnnual report
「We assumed that the stagnation of economic activity caused by the spread of COVID-19 would continue throughout the current consolidated fiscal year and reflected this assumption in the estimate of loan-loss provisions.」
The company has maintained the assumption that the slowdown in economic activity caused by the infectious disease would continue throughout the fiscal year and has reflected it in its allowance for loan losses. - FY2023-Q2RestatedAnnual report
「We assumed that the stagnation of economic activity caused by the spread of COVID-19 would continue throughout the current consolidated fiscal year and reflected this assumption in the estimate of loan-loss provisions.」
The company has maintained the assumption that the slowdown in economic activity caused by the infectious disease would continue throughout the fiscal year and has reflected it in its allowance for loan losses. - FY2022WorsenedAnnual report
「In the economies of Miyagi and Yamagata prefectures, where the Group operates, the prolonged COVID-19 pandemic has had wide-ranging effects on small and medium-sized enterprises, including deteriorating earnings due to declining sales and the resulting deterioration in employment conditions.」
The impact of the infectious disease on regional economies and small and medium-sized enterprises has continued, and there are concerns that the impact may expand and persist longer as price increases and other factors add to it. - FY2022-Q3WorsenedAnnual report
「In addition, as the spread of COVID-19 infections has continued, the company changed its assumption during the third quarter from the slowdown in economic activity associated with the spread of COVID-19 continuing through the current fiscal year to continuing through the following fiscal year.」
The assumed period of the infectious disease's impact on economic activity was extended from the current fiscal year to the following fiscal year and reflected in the allowance for loan losses. The assumed impact of the infectious disease has once again become more prolonged. - FY2022-Q2RestatedAnnual report
「We assumed that the stagnation of economic activity caused by the spread of COVID-19 would continue throughout the current consolidated fiscal year and reflected this assumption in the estimate of loan-loss provisions.」
The company has maintained the assumption that the slowdown in economic activity caused by the infectious disease would continue throughout the fiscal year and has reflected it in its allowance for loan losses. - FY2022-Q1RestatedAnnual report
「We assumed that the stagnation of economic activity caused by the spread of COVID-19 would continue throughout the current consolidated fiscal year and reflected this assumption in the estimate of loan-loss provisions.」
The company has continued to reflect in its allowance for loan losses the assumption that the slowdown in economic activity caused by the infectious disease would continue throughout the fiscal year. It states that there has been no material change in the assumption. - FY2021-Q3WorsenedAnnual report
「For the additional recording of loan-loss provisions during the third quarter of the current consolidated fiscal year, we assumed that the stagnation of economic activity caused by the spread of COVID-19 would continue through the following consolidated fiscal year and reflected this assumption in the estimate of loan-loss provisions.」
We assumed that the stagnation of economic activity caused by the infection would continue not only through the current consolidated fiscal year but also through the following consolidated fiscal year, and recorded additional loan-loss provisions. The assumed duration of the infection's impact was extended, and responses to credit risk have continued. - FY2021-Q2MaterialisedAnnual report
「Although the situation remains severe due to the impact of COVID-19, personal consumption and exports have recently shown signs of recovery.」
While the economic impact of the infection has continued, personal consumption and exports have shown signs of recovery. Additional loan-loss provisions based on the assumed impact of the infection have also continued to be recorded. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the current consolidated cumulative period, the domestic economy deteriorated sharply, centered on personal consumption, due to the impact of COVID-19. Although signs of a recovery have emerged following the lifting of the state of emergency, continued attention is required regarding trends in infections in Japan and overseas and fluctuations in the financial and capital markets.」
The company states that the deterioration in personal consumption and the domestic economy caused by COVID-19 has actually occurred. For accounting purposes, it also assumed a stagnation in economic activity and recorded additional loan-loss provisions. - FY2020First statedAnnual report
「The domestic and overseas economies have sharply deteriorated in the near term due to the impact of COVID-19, and the outlook is uncertain, requiring close attention to the risk of further downside in domestic and overseas economies and the financial and capital markets.」
COVID-19 was identified for the first time as a standalone major risk, with deterioration in the performance of small and medium-sized enterprises, the emergence of credit risk and impacts on securities investment assumed. The company states that impacts on economic activity and financial markets have already occurred.