Regional Economic, Credit, Market and Business Continuity Risks from the Spread of COVID-19
First written in FY2020. 6 of 10 entries say "Restated". Latest entry: FY2023-Q3.
The whole theme swung hardest in 2020: 11 of 30 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「There have been no material changes in the accounting estimates related to the impact of COVID-19 or in the assumptions used in those estimates from the information disclosed under “Significant Accounting Estimates” in the securities report for the previous fiscal year. The estimates were calculated to cover the events assumed based on information available as of the end of the third quarter of the current consolidated fiscal year. However, the assumptions used in the estimates remain highly uncertain under the current economic conditions, and the allowance for doubtful accounts may increase or decrease in the consolidated financial statements for the current consolidated fiscal year and subsequent periods if the spread of infections, its duration or the extent of its impact on the economy changes.」
While stating that there have been no material changes to the accounting estimates related to COVID-19, the company continues to disclose the uncertainty of the assumptions and the possibility that the allowance for doubtful accounts may fluctuate in line with infection trends and other factors. - FY2023-Q2RestatedAnnual report
「There were no material changes from the content described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year regarding the accounting estimates related to the effects of COVID-19 and the assumptions used in those estimates for the interim consolidated accounting period of the current fiscal year. These estimates were calculated to cover the events assumed based on information available at the end of the interim consolidated accounting period. However, under the current economic conditions, the assumptions used in the estimates are highly uncertain, and if the status or duration of the spread of infection or its impact on the broader economy changes, the allowance for loan losses may increase or decrease in the consolidated financial statements for the third quarter and thereafter.」
While stating that there have been no material changes to the accounting estimates related to COVID-19, the company continues to disclose the uncertainty of the assumptions and the possibility that the allowance for doubtful accounts may fluctuate in line with infection trends and other factors. - FY2022WorsenedAnnual report
「We assume that the economic impact of COVID-19 will continue for approximately the next several years, and have calculated the allowance for doubtful accounts based on the assumption that the impact will be contained to some extent by economic measures taken by the government and local authorities, as well as support from financial institutions.」
The company assumes that the economic impact of COVID-19 will continue for approximately the next several years and has reflected this assumption in its estimate of the allowance for doubtful accounts. - FY2022-Q3RestatedAnnual report
「There have been no material changes in the accounting estimates related to the impact of COVID-19 or in the assumptions used in those estimates from the information disclosed under “Significant Accounting Estimates” in the securities report for the previous fiscal year. The estimates were calculated to cover the events assumed based on information available as of the end of the third quarter of the current consolidated fiscal year. However, the assumptions used in the estimates remain highly uncertain under the current economic conditions, and the allowance for doubtful accounts may increase or decrease in the consolidated financial statements for the current consolidated fiscal year and subsequent periods if the spread of infections, its duration or the extent of its impact on the economy changes.」
While stating that there have been no material changes to the accounting estimates related to COVID-19, the company continues to disclose the uncertainty of the assumptions and the possibility that the allowance for doubtful accounts may increase or decrease. - FY2022-Q2RestatedAnnual report
「There were no material changes from the content described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year regarding the accounting estimates related to the effects of COVID-19 and the assumptions used in those estimates for the interim consolidated accounting period of the current fiscal year. These estimates were calculated to cover the events assumed based on information available at the end of the interim consolidated accounting period. However, under the current economic conditions, the assumptions used in the estimates are highly uncertain, and if the status or duration of the spread of infection or its impact on the broader economy changes, the allowance for loan losses may increase or decrease in the consolidated financial statements for the third quarter and thereafter.」
While stating that there have been no material changes to the accounting estimates related to COVID-19, the company continues to disclose the uncertainty of the assumptions and the possibility that the allowance for doubtful accounts may increase or decrease depending on changes in infection trends and other factors. - FY2022-Q1RestatedAnnual report
「There were no material changes from the content described under “Significant Accounting Estimates” in the annual securities report for the previous consolidated fiscal year regarding the accounting estimates related to the effects of COVID-19 and the assumptions used in those estimates for the first quarter of the current consolidated fiscal year.」
The company reconfirmed that there were no material changes from the previous year’s annual securities report in the accounting estimates and assumptions related to COVID-19. - FY2021-Q3RestatedAnnual report
「These estimates were calculated to cover the events assumed based on information available at the end of the third quarter of the consolidated accounting period. However, under the current economic conditions, the assumptions used in the estimates are highly uncertain, and if the status or duration of the spread of infection or its impact on the broader economy changes, the allowance for loan losses may increase or decrease in the consolidated financial statements for the current consolidated fiscal year and thereafter.」
The company continued to disclose that the assumptions underlying accounting estimates related to COVID-19 are highly uncertain and that the allowance for loan losses may increase or decrease due to changes in infection conditions and other factors. - FY2021-Q2WorsenedAnnual report
「These estimates were calculated to cover the events assumed based on information available at the end of the interim consolidated accounting period. However, under the current economic conditions, the assumptions used in the estimates are highly uncertain, and if the status or duration of the spread of infection or its impact on the broader economy changes, the allowance for loan losses may increase or decrease in the consolidated financial statements for the third quarter and thereafter.」
The company continued to disclose that the assumptions underlying accounting estimates related to COVID-19 are highly uncertain and that the allowance for loan losses may increase or decrease due to changes in infection conditions and other factors. - FY2021-Q1WorsenedAnnual report
「These estimates were calculated to cover the events assumed based on information available at the end of the first quarter of the consolidated fiscal period. However, under the current economic conditions, the assumptions used in the estimates are highly uncertain, and if the status or duration of the spread of infection or its impact on the broader economy changes, the allowance for loan losses may increase or decrease in the consolidated financial statements for the second quarter and thereafter.」
The company added disclosure that the assumptions underlying accounting estimates related to COVID-19 are highly uncertain and that the allowance for loan losses may increase or decrease depending on future infection conditions and other factors. - FY2020First statedAnnual report
「We expect the effects of the spread of COVID-19 to continue for approximately the next year. The effects may extend from a global slowdown in economic activity to a downturn and deterioration in economic conditions in the Tohoku region, our group’s primary business area, potentially increasing credit risk related to loans. Market risk related to securities investments and other risks may also increase.」
The spread of COVID-19 was identified explicitly as a particularly important risk for the first time, with the disclosure stating that it was expected to continue for approximately the next year, potentially affecting the regional economy, credit risk and market risk and making business continuity difficult in the event of an infection cluster.