Credit, Market and Business Continuity Risks Arising from COVID-19
First written in FY2020. 4 of 13 entries say "Materialised", first in FY2021-Q2. Latest entry: FY2025.
The Bank Of Saga 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: 12 of 31 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「In FY2024, after Japan's economy emerged from the impact of the COVID-19 pandemic, economic conditions continued to recover moderately, supported by wage increases and the effects of various policies aimed at normalizing economic and social activity.」
Regarding COVID-19, the disclosure describes the recovery in economic conditions after the economy emerged from the pandemic's impact, presenting the impact of the infectious disease on economic activity as having eased further. - FY2025-H1MitigatedAnnual report
「After Japan's economy emerged from the impact of the COVID-19 pandemic, economic conditions continued to recover moderately, supported by wage increases and the effects of various policies aimed at normalizing economic and social activity.」
Regarding COVID-19, the disclosure describes the normalization of economic and social activity and the recovery in economic conditions after the economy emerged from the pandemic's impact. The impact of the infectious disease on economic activity is presented as having eased further from the previous trend toward normalization. - FY2024MitigatedAnnual report
「During the second quarter of the current consolidated fiscal year (the current interim consolidated accounting period), Japan's economy showed signs of a recovery in personal consumption and capital investment, supported by various policies aimed at higher wages and the normalization of economic and social activity, as the environment for self-sustaining economic circulation developed following changes to the legal classification of COVID-19.」
The disclosure states that economic activity normalized and personal consumption and capital investment recovered following the change in the classification of COVID-19. The impact of the infectious disease on economic activity is moving toward mitigation. - FY2024-Q2MitigatedAnnual report
「During the second quarter of the current consolidated fiscal year (the current interim consolidated accounting period), Japan's economy showed signs of a recovery in personal consumption and capital investment, supported by various policies aimed at higher wages and the normalization of economic and social activity, as the environment for self-sustaining economic circulation developed following changes to the legal classification of COVID-19.」
The disclosure states that changes to the legal classification of COVID-19 created an environment for self-sustaining economic circulation and that personal consumption and capital investment recovered. The impact of the infectious disease on economic activity is moving toward normalization. - FY2023Mitigation of the Infectious Disease Impact and Continuing Credit RiskAnnual report
「COVID-19, which had previously spread extensively, was reclassified under the Infectious Diseases Control Law from a category equivalent to Category II to Category V in May 2023, and economic activity is gradually returning to normal. …We recognize that it will have a certain impact, primarily on the credit risk associated with the Group's loans and other assets, but assume that the resulting increase in credit costs will not be substantial, partly because of economic measures by the government and local authorities and support from financial institutions.」
While the impact of the infectious disease on economic activity is moving toward normalization, the impact on the credit risk associated with loans and other assets and the uncertainty surrounding credit costs continue to be recognized. - FY2023-Q3RestatedAnnual report
「There were no material changes to the assumptions used in accounting estimates concerning the impact of COVID-19 from those described in the additional information section of the securities report for the previous consolidated fiscal year.」
It states that there have been no material changes since the previous consolidated fiscal year in the assumptions underlying the accounting estimates for the impact of COVID-19. - FY2022MaterialisedAnnual report
「We expect the economic impact of the spread of COVID-19 to continue for the time being. We recognize that it will have a certain impact, primarily on the credit risk associated with the Group's loans and other assets, but assume that the resulting increase in credit costs will not be substantial, partly because of economic measures by the government and local authorities and support from financial institutions.」
The impact of the infectious disease on the economy and credit risk is expected to continue for the time being, and the provision for loan losses increased year on year. The disclosure states that the amount of the impact remains uncertain. - FY2022-Q2MaterialisedAnnual report
「During the six-month period ended [the second quarter] (the interim consolidated accounting period), Japan's economy remained in a challenging condition due to the resurgence of the COVID-19 pandemic. However, exports continued to increase moderately, production continued to recover, and corporate earnings also showed signs of recovery.」
The disclosure states that economic conditions remained challenging amid the resurgence of COVID-19. It also states that there were no material changes from the previous fiscal year in the assumptions used in accounting estimates concerning the impact of the infectious disease. - FY2022-Q1RestatedAnnual report
「There were no material changes to the assumptions used in accounting estimates concerning the impact of COVID-19 from those described in the additional information section of the securities report for the previous consolidated fiscal year.」
It states that there have been no material changes since the previous consolidated fiscal year in the assumptions underlying the accounting estimates for the impact of COVID-19. - FY2021MaterialisedAnnual report
「We expect the economic impact of the spread of COVID-19 to continue for approximately the next year. We recognize that it will have a certain impact, primarily on the credit risk associated with the Group's loans and other assets.」
The impact of the infectious disease on corporate activity, personal consumption, and the employment environment continued, and an impact on the credit risk associated with loans and other assets is expected for approximately the next year. - FY2021-Q3RestatedAnnual report
「There were no material changes to the assumptions used in accounting estimates concerning the impact of COVID-19 from those described in the additional information section of the securities report for the previous consolidated fiscal year.」
It states that there have been no material changes since the previous consolidated fiscal year in the assumptions underlying the accounting estimates for the impact of COVID-19. - FY2021-Q2MaterialisedAnnual report
「During the second quarter of the current consolidated fiscal year (the current interim consolidated accounting period), Japan's economy remained generally challenging, as corporate activity and personal consumption stagnated due to the impact of COVID-19, while the employment environment also showed signs of weakness.」
The stagnation of corporate activity and personal consumption and the deterioration of the employment environment caused by COVID-19 continued, and the infectious disease risk identified at the end of the previous fiscal year had already expanded into an actual economic impact. - FY2020First statedAnnual report
「The spread of infectious diseases, including COVID-19, could disrupt business continuity as the number of infected Group officers and employees increases. The impact could also spread to the economy and markets as a whole, increasing and crystallizing credit risk, market risk, and other risks, which could affect the Group's operating results and financial condition.」
Infectious diseases were identified explicitly as a separate major risk for the first time. As of the fiscal year-end, impacts on the domestic and overseas economies and on personal consumption, exports, and production in northern Kyushu had already been described, with the impact expected to continue for approximately the next year.