Forgery of Mortgage Lending Documents and Excessive Lending at JR九州住宅
First written in FY2019-Q2. 3 of 3 entries say "Materialised", first in FY2019-Q2. Latest entry: FY2019.
No other company in this theme has enough history to compare yet.
- FY2019MaterialisedAnnual report
「The loss related to the Conduct and other matters was reasonably estimated and recorded under "Other" within extraordinary losses for the consolidated fiscal year. The impact on consolidated profit or loss for the fiscal year was immaterial.」
Losses related to the falsification of mortgage loan documents and excessive lending were recorded as extraordinary losses for the full year. - FY2019-Q3MaterialisedAnnual report
「Losses relating to the Conduct and other matters have been reasonably estimated and recorded under “Other” in extraordinary losses on the quarterly consolidated statement of income for the cumulative third quarter period. The impact on income or loss for the cumulative third quarter period was minor.」
The company recorded losses related to inappropriate handling of mortgage lending as extraordinary losses and disclosed that the impact on income or loss for the cumulative third quarter period was minor. - FY2019-Q2MaterialisedAnnual report
「It has come to light that an employee of our consolidated subsidiary ＪＲ九州住宅株式会社 took the lead in falsifying documents relating to mortgage loans submitted to financial institutions, had homebuyers apply for loans based on inflated amounts exceeding the actual construction contract prices, and caused financial institutions to provide excessive lending (the “Conduct”).」
The company received an investigation report from the independent committee and disclosed measures to prevent recurrence. While the company stated that future declines in credibility and losses could affect its operating results and financial position, it deemed the impact of the Conduct on results for the cumulative second quarter period to be minor.