Deterioration in the Earnings Environment Caused by Negative Interest-Rate Policy and Low Interest Rates
First written in FY2017. 10 of 17 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 6 of 18 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026Yield improvement and higher earnings following policy-rate increasesAnnual report
「Ordinary income increased as interest on loans and interest and dividends on securities increased because loans and yen-denominated securities grew steadily and yields improved following the Bank of Japan’s policy-rate increases.」
The full-year results describe a shift from the previous difficult earnings environment caused by low rates and accommodative monetary policy to improved yields and higher interest income following policy-rate increases. - FY2026-H1Yield improvement following policy-rate increases continuedAnnual report
「Interest on loans and interest and dividends on securities increased as a result of steady growth in loans and yen-denominated securities and improved yields following the Bank of Japan’s policy-rate increases.」
The filing continued to describe improved yields and higher interest income following Bank of Japan policy-rate increases, contrasting with the previous low-rate and accommodative environment. - FY2025-H1Yield improvement following changes in monetary policyAnnual report
「Ordinary income increased by ¥3,550 million year on year to ¥32,738 million, mainly because interest on loans, interest and dividends on securities and interest on deposits increased as a result of improved yields following changes in the Bank of Japan’s monetary policy, in addition to growth in business loans and securities balances.」
Against the previous recognition of a low-rate and accommodative environment, the filing describes improved yields following changes in the Bank of Japan’s monetary policy and higher interest income. - FY2024ReframedAnnual report
「The 10-year Japanese government bond yield, a benchmark for long-term interest rates, temporarily rose above 0.9% as expectations grew that monetary easing would be revised, but declined to around 0.7% by the end of the fiscal year because accommodative financial conditions were expected to continue even after negative interest rates were lifted.」
The previous characterization of continuing negative and ultra-low interest rates was updated to reflect a still-accommodative financial environment after the lifting of negative rates, alongside a temporary rise in long-term interest rates above 0.9%. - FY2021-Q3RestatedAnnual report
「Amid continuing global ultra-accommodative monetary conditions, securities increased by ¥78.9 billion from the end of the previous fiscal year to ¥438.4 billion as we worked to manage them efficiently while taking account of medium- to long-term interest-rate risk.」
The Bank reaffirmed its recognition of the difficult interest-rate environment under global ultra-accommodative monetary conditions and its response of avoiding medium- to long-term interest-rate risk. - FY2021-Q2RestatedAnnual report
「Amid continuing global ultra-accommodative monetary conditions, securities increased by ¥27.4 billion from the end of the previous fiscal year to ¥386.8 billion as we worked to manage them efficiently while taking account of medium- to long-term interest-rate risk.」
The Bank reaffirmed its recognition of the difficult interest-rate environment under ultra-accommodative monetary conditions and its response of taking account of medium- to long-term interest-rate risk. - FY2021-Q1RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult earnings environment and its policy of expanding loans and fees and commissions while reducing costs. - FY2020WorsenedAnnual report
「Ordinary income decreased by ¥9,047 million from the previous fiscal year to ¥63,449 million, mainly because interest on securities and gains on sales of securities declined against a backdrop of the prolonged negative interest-rate policy.」
The prolonged negative interest-rate policy reduced securities-related income and contributed to declines in ordinary income and ordinary profit. - FY2020-Q3RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult earnings environment and its policy of expanding loans and fees and commissions while reducing costs. - FY2020-Q2RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult earnings environment and its policy of expanding loans and fees and commissions while reducing costs. - FY2020-Q1RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult earnings environment and its policy of expanding loans and fees and commissions while reducing costs. - FY2019RestatedAnnual report
「Despite the ultra-low interest-rate environment, ordinary income increased by ¥1.8 billion from the previous fiscal year to ¥72.4 billion, mainly because interest on loans, fees and commissions, and securities-related income increased.」
While maintaining its recognition that the environment surrounding financial institutions remained challenging under ultra-low interest rates, the Bank expanded its revenue sources. - FY2019-Q3RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult environment surrounding financial institutions and its policy of expanding loans and fees and commissions while reducing costs across the Bank. - FY2019-Q2RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult environment surrounding financial institutions and its policy of expanding loans and fees and commissions while reducing costs across the Bank. - FY2019-Q1RestatedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank reaffirmed its recognition of the difficult environment surrounding financial institutions and its policy of expanding loans and fees and commissions while reducing costs across the Bank. - FY2018WorsenedAnnual report
「Although the environment surrounding financial institutions remains challenging, we will continue working to expand loans and fees and commissions, including income from assets under custody, while pursuing Group-wide cost reductions.」
The Bank continued to recognize the difficult earnings environment under ultra-low interest rates and identified loan growth, higher fee income and cost reductions as responses. - FY2017First statedAnnual report
「The financial environment has remained at unprecedentedly low interest-rate levels, partly because the Bank of Japan introduced a negative interest-rate policy, and the earnings environment surrounding financial institutions has become increasingly challenging.」
The filing identifies the negative interest-rate policy and low interest rates as factors worsening the earnings environment, including through lower investment income and ordinary profit.