Deterioration in economic activity and market conditions caused by COVID-19
First written in FY2021-Q1. 5 of 8 entries say "Restated". Latest entry: FY2023-Q3.
Aozora Bank 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: 15 of 41 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「Based on the assumption that the impact of the global spread of COVID-19 on economic and business activity would be prolonged and could continue through fiscal 2022 for some borrowers, we calculate allowances for loan losses for those borrowers, taking into account the possibility of future deterioration in their credit condition. There has been no change from the end of the previous consolidated fiscal year in the assumption regarding the duration of the impact on economic and business activity.」
We continued to calculate allowances for loan losses based on the assumption that the impact of COVID-19 could continue through fiscal 2022, with no change in the assumption regarding the duration of the impact. - FY2023-Q1RestatedAnnual report
「Personal consumption showed signs of recovery toward June, particularly in services consumption. Employment and income conditions and imports remained weak at the beginning of the period as the impact of COVID-19 persisted, but improved toward June.」
While the impact of COVID-19 remained on employment and income conditions and imports at the beginning of the period, signs of improvement emerged toward June. There was also no change in the period used to calculate allowances for loan losses based on the assumed impact of COVID-19. - FY2022-Q2RestatedAnnual report
「Based on the assumption that the impact of the global spread of COVID-19 on economic and business activity would be prolonged and could continue through fiscal 2022 at the longest for some borrowers, we calculate allowances for loan losses for those borrowers, taking into account the possibility of future deterioration in their credit condition. There has been no change from the end of the previous consolidated fiscal year in the assumption regarding the duration of the impact on economic and business activity.」
We continued to calculate allowances for loan losses based on the assumption that the impact of COVID-19 could continue through fiscal 2022 at the longest, with no change in the assumption regarding the duration of the impact. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, the economy as a whole continued to show signs of recovery, but recovery varied across industries and business types as restrictions on activity related to COVID-19 remained in place.」
While the economy as a whole showed signs of recovery, restrictions on activity related to COVID-19 remained, and recovery varied across industries and business types. - FY2021RestatedAnnual report
「Economic conditions during the current consolidated fiscal year were significantly affected by COVID-19 throughout the year. The impact of the global spread of COVID-19 on economic and business activity has been prolonged, and the impact on the performance of some borrowers may continue through fiscal 2022 at the longest.」
Risk management and provisioning are being conducted on the assumption that the impact of COVID-19 continued throughout the fiscal year and may affect borrowers through fiscal 2022 at the longest. - FY2021-Q3WorsenedAnnual report
「During the first 3 quarters of the current consolidated cumulative period, the Japanese economy generally showed signs of recovery from the second to the third quarter, but the recovery slowed as concern over COVID-19 persisted. In the United States, sentiment improved partly due to progress in vaccine development, but the recovery in the economy and employment slowed as restrictions on activity were tightened and agreement on additional fiscal measures proved difficult.」
In Japan, concern over COVID-19 slowed the pace of economic recovery, while in the United States the recovery in the economy and employment slowed due to restrictions on activity and difficulties in agreeing additional fiscal measures. - FY2021-Q2WorsenedAnnual report
「In Japan, conditions remained difficult due to the impact of COVID-19, although the economy generally showed signs of a gradual recovery after the state of emergency was lifted. In the United States, economic activity and sentiment generally remained flat, with the pace of recovery in personal consumption slowing partly because COVID-19 cases increased again in some states.」
While the Japanese economy showed signs of recovery, the pace of personal consumption recovery in the United States slowed as infections increased again, and difficult economic conditions continued. - FY2021-Q1First statedAnnual report
「During the first quarter of the current consolidated cumulative period, economic conditions in Japan weakened considerably in terms of personal consumption, exports and production after the government declared a state of emergency in April in response to the spread of COVID-19. After the declaration was lifted, however, signs of a gradual recovery emerged as economic activity resumed in stages. In the United States, the spread of COVID-19, particularly in urban areas, severely restricted economic activity and caused the economy to deteriorate rapidly.」
Newly described external risks arising from the COVID-19 pandemic, including the declaration of a state of emergency and economic slowdown in Japan, as well as restrictions on economic activity and a rapid deterioration in the US economy.