Expected Shift from Personal to Institutional Guarantees Following the Civil Code Revision
First written in FY2016. 2 of 5 entries say "Restated". Latest entry: FY2025.
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- FY2025RestatedAnnual report
「The amended Civil Code, which took effect in April 2020, introduced requirements including the explicit specification of maximum amounts in personal guarantee contracts and codification of the obligation to restore property to its original condition」
The Company continues to explain the implemented provisions of the amended Civil Code as institutional factors increasing demand for a shift from personal to institutional guarantees. - FY2020AdvancedAnnual report
「Demand in the rental housing market has increased further following the amended Civil Code, which took effect in April 2020」
The description of the amended Civil Code has progressed from a scheduled implementation to an implemented institutional framework, and explains its relationship with increasing demand for institutional guarantees. - FY2019AdvancedAnnual report
「The amended Civil Code is scheduled to take effect in April 2020, and includes provisions, such as a requirement to explain the maximum guarantee amount, that make it more difficult to rely on joint guarantors」
The description of the Civil Code amendments has progressed from developments toward enactment to the scheduled implementation in April 2020 and their specific provisions. - FY2017RestatedAnnual report
「Amendments to the Civil Code, including moves to make maximum amounts for personal guarantees mandatory, are increasing social demand for institutional guarantees.」
The Company continues to identify developments in the Civil Code amendments as a factor driving the shift from personal guarantees to institutional guarantees. - FY2016First statedAnnual report
「The shift from personal guarantees to institutional guarantees is expected to accelerate, increasing social demand for the industry and the Company and expanding the market going forward.」
The Company states its outlook that the possibility of making maximum amounts for joint guarantees mandatory will drive market expansion.