Economic, Credit and Business Continuity Risks from COVID-19
First written in FY2020. 8 of 10 entries say "Restated". Latest entry: FY2024.
The Toho Bank 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: 11 of 30 companies on the "Worse" side.
6 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「If the spread of infectious diseases such as COVID-19 causes economic activity in Japan and overseas to stagnate and significantly changes the financial condition of borrowers, or if the Bank is forced to suspend operations because officers or employees become infected, the Bank’s results and financial condition may be adversely affected.」
The description was broadened from the specific risk of COVID-19 to economic, credit and business-continuity risks caused by infectious diseases such as COVID-19. - FY2023-Q2RestatedAnnual report
「Based on government and Bank of Japan real-GDP forecasts, we assume in our future earnings outlook that the economic recovery will continue because of the effects of government economic measures, while economic activity will continue to be restricted for companies in some industries. There have been no changes from the previous assumptions.」
The Bank reconfirmed that its accounting assumptions concerning COVID-19 were unchanged, based on continuing economic recovery and continued restrictions on activity in some industries. - FY2023-Q1RestatedAnnual report
「We have made no material changes to the assumptions concerning the impact of COVID-19 from the content described under “Significant accounting estimates” in the previous consolidated fiscal year’s annual securities report.」
The Bank reconfirmed that there had been no material changes from the previous fiscal year in the accounting assumptions concerning the impact of COVID-19. - FY2022-Q3RestatedAnnual report
「We have made no material changes to the assumptions concerning the impact of COVID-19 from the content described under “Additional information,” “Certain assumptions concerning the impact of COVID-19,” in the quarterly report for the second quarter of the current consolidated fiscal year.」
The Bank reconfirmed that there had been no material changes from the previous quarter in the accounting assumptions concerning the impact of COVID-19. - FY2022-Q2RestatedAnnual report
「Although consumer spending and investment are expected to be stimulated by the “Emergency Economic Measures against COVID-19” and other initiatives, we assume in our future earnings outlook that the economy will enter a recovery phase from fiscal 2021 onward based on government and Bank of Japan real-GDP forecasts, while economic activity will continue to be restricted for companies in some industries. There have been no changes from the previous assumptions.」
The Bank maintained its accounting assumption of an economic recovery from fiscal 2021 onward while restrictions on activity continued in some industries, and reconfirmed that there had been no change from the previous assumptions. - FY2022-Q1RestatedAnnual report
「We have made no material changes to the assumptions concerning the impact of COVID-19 from the content described under “Significant accounting estimates” in the previous consolidated fiscal year’s annual securities report.」
The Bank reconfirmed that there had been no material changes from the previous fiscal year in the accounting assumptions concerning the impact of COVID-19. - FY2021-Q3RestatedAnnual report
「We have made no material changes to the assumptions concerning the impact of COVID-19 from the content described under “Additional information” in the “Basis for provision for loan losses” section of the quarterly report for the second quarter of the current consolidated fiscal year.」
The Bank reconfirmed that there had been no material changes from the previous quarter in the accounting assumptions concerning the impact of COVID-19. - FY2021-Q2RestatedAnnual report
「Based on the government and Bank of Japan forecasts for real GDP from fiscal 2020 onward, we assume that the economy will enter a recovery phase from fiscal 2021 onward.」
The Bank stated that COVID-19 had not yet been brought under control and continued to assume for accounting purposes that the economy would enter a recovery phase from fiscal 2021 onward. It also disclosed that uncertainty was high and that provisions for loan losses could change as infection conditions and the economic environment changed. - FY2021-Q1RestatedAnnual report
「We have made no material changes to the assumptions concerning the impact of COVID-19 from the content described under “Additional information” in the “Basis for provision for loan losses” section of the previous consolidated fiscal year’s annual securities report.」
The Bank reconfirmed that there had been no material changes from the previous fiscal year in the accounting assumptions concerning the impact of COVID-19. - FY2020First statedAnnual report
「For receivables for which we determined that the impact of COVID-19 could affect the financial condition of borrowers, we recorded additional provisions for loan losses and determined that these represented the best estimates available at the current time.」
The spread of COVID-19 was first identified as a standalone risk, with possible effects on economic conditions, share prices, exchange rates, real-estate prices, borrowers’ financial condition and results. Additional provisions for loan losses were recorded based on the impact on borrowers.