Economic and Operational Impacts of the Novel Coronavirus Disease
First written in FY2023-Q3. 2 of 3 entries say "Reframed", first in FY2023. Latest entry: FY2024.
Aichi Financial Group moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 12 of 31 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「We assume that the impact on liquidity from the start of repayments on effectively interest-free, unsecured loans introduced in response to the spread of COVID-19, among other factors, will continue into the next consolidated fiscal year, and that credit risk associated with loans and other assets will be affected to a certain extent.」
COVID-19 is not identified as a standalone major risk, but is described as an assumption underlying estimates of loan repayments and the allowance for loan losses. - FY2023ReframedAnnual report
「The company assumes that the effects of rising raw material prices and stagnation in economic activity associated with COVID-19 and other factors will continue into the next consolidated fiscal year, with a certain impact on the credit risk of loans and other assets.」
Rather than treating COVID-19 as a standalone risk item, the company positions it as an assumption underlying estimates of the allowance for loan losses and credit risk. - FY2023-Q3First statedAnnual report
「The spread of COVID-19 could cause economic activity and corporate operations to stagnate and financial markets to become disrupted.」
The company identifies impairment of equities and other assets, non-performing receivables and credit costs related to counterparties, business interruptions caused by employee illness, and declines in investment and commercial transactions as factors that could cause an impact.