Funding Risk from Financial Market Turmoil and Credit Rating Downgrade
First written in FY2017. 2 of 7 entries say "Mitigated", first in FY2018. Latest entry: FY2024.
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The Company's long- and short-term credit ratings as of the end of the consolidated fiscal year were as follows: Rating and Investment Information, Inc. (R&I) AA- (Stable) a-1+, Standard & Poor's (S&P) A (Stable) A-1, Moody's A3 (Stable).」
Disclosed the credit ratings from R&I, S&P and Moody's, with S&P maintaining its long-term rating of A (Stable). - FY2022Credit rating updateAnnual report
「Rating and Investment Information, Inc. (R&I) AA- (Stable) a-1+ Standard & Poor's (S&P) A (Stable) A-1 Moody's A3 (Stable) -」
Updated the long- and short-term credit ratings from R&I, S&P and Moody's; S&P maintained its A (Stable) rating. - FY2021Credit rating updateAnnual report
「Standard & Poor's (S&P) A (Stable) A-1」
S&P disclosed a long-term credit rating of A (Stable), changed from A (Negative), and assigned a short-term rating of A-1. - FY2020MaterialisedAnnual report
「On 28 May 2020, it was downgraded to A (Negative).」
Disclosed that S&P's long-term credit rating had been downgraded to A (Negative) by the filing date. - FY2019MitigatedAnnual report
「To prepare for funding needs in the event of unforeseen circumstances such as financial market turmoil, we have established multicurrency revolving facilities (multicurrency syndicated loan facilities) and a multi-pricing long-term revolving credit facility with major domestic and overseas banks.」
Expanded the total amount of the long-term revolving credit facility from US$200 million to US$1,200 million, strengthening preparedness for unforeseen funding needs. - FY2018MitigatedAnnual report
「We seek to minimize liquidity risk by maintaining good relationships with financial institutions, engaging in asset-liability management (ALM), and raising funds in line with the nature of our assets.」
Specified measures to address funding and liquidity risks, including maintaining relationships with financial institutions, ALM and funding in line with the nature of assets. - FY2017First statedAnnual report
「If financial markets become dislocated or a rating agency substantially downgrades our credit rating, our group may face restrictions on its ability to raise funds, and funding costs may increase.」
Independently described the possibility of restrictions on funding and higher funding costs as liquidity and funding risks.