Combined Impact of the Spread of COVID-19
First written in FY2020. 3 of 7 entries say "Restated". Latest entry: FY2024-Q1.
Resona 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.
7 other companies' latest entry also says "Mitigated".
- FY2024-Q1MitigatedAnnual report
「During the first quarter of the current consolidated fiscal year, the Japanese economy remained resilient as economic activity resumed following the reclassification of COVID-19 under the Infectious Diseases Control Law to Category 5.」
It describes the reopening of the economy following the reclassification of COVID-19 as a Category 5 disease and the resilience of the domestic economy. - FY2023-Q2RestatedAnnual report
「We assume that the spread of COVID-19 and the resulting stagnation in economic activity will continue to affect the performance of borrowers of our domestic group banks, including Resona Bank, Ltd., during fiscal 2022. There has been no change in this assumption from the previous consolidated fiscal year.」
It maintains the assumption that the stagnation in economic activity caused by COVID-19 and its impact on borrowers’ performance will continue during fiscal 2022, stating that there has been no change from the previous fiscal year. - FY2023-Q1RestatedAnnual report
「We assume that the spread of COVID-19 and the resulting stagnation in economic activity will continue to affect the performance of borrowers of our domestic group banks, including Resona Bank, Ltd., during fiscal 2022. There has been no change in this assumption from the previous consolidated fiscal year.」
It maintains the assumption that the stagnation in economic activity caused by COVID-19 and its impact on borrowers’ performance will continue during fiscal 2022, stating that there has been no change from the previous fiscal year. - FY2022-Q2RestatedAnnual report
「It is highly likely that it will take time for society as a whole to regain stability and for economic activity to recover to pre-COVID levels, and there are concerns that the effects of COVID-19 will continue for the time being over an extended period and across a broad range of areas.」
While referring to the reopening of economic activity driven by the wider rollout of vaccinations and other factors, it continues to recognize the possibility that the effects of the pandemic will persist over an extended period and across a broad range of areas for the time being. - FY2021WorsenedAnnual report
「In light of the current COVID-19 situation, we have changed our assumption to reflect that its effects will continue for approximately 2 years from fiscal 2021 onward.」
The assumed duration of the effects of COVID-19 was changed to approximately 2 years from fiscal 2021 onward, and an additional allowance of ¥8,672 million was recorded against affected loans of ¥511,183 million. - FY2021-Q1WorsenedAnnual report
「We expect the spread of COVID-19 and the resulting stagnation in economic activity to continue affecting the performance of borrowers to which our group lends for at least the current consolidated fiscal year. Under these circumstances, we have recognized a certain impact on the credit risk of loans and other assets held by our group and have recorded an allowance for loan losses based on this assumption. This assumption is highly uncertain, and if the infection situation or the impact on economic activity changes, our group’s performance may also fluctuate accordingly.」
It expects the effects of COVID-19 to continue at least through the current fiscal year and has recorded an allowance for loan losses based on the expected impact on the credit risk of borrowers. It also explicitly recognizes the high level of uncertainty. - FY2020MaterialisedAnnual report
「The spread of COVID-19 is expected to give rise to various risks as follows: ○ increase in credit costs ○ deterioration in valuation gains or losses on securities held ○ instability in foreign-currency funding ○ increase in cyberattacks ○ business suspension due to the spread of infection among employees ○ decline in revenue due to reduced economic activity, delayed transactions and other factors」
Beyond conventional general infectious disease risks, it describes the multiple effects of the spread of COVID-19 on credit costs, markets, funding, cybersecurity, business continuity and revenue as part of the actual operating environment.