Financial Services Agency Submit reports on financial results, etc.To postpone admission
As the spread of the new coronavirus continues, the Financial Services Agency will set a special case for submitting reports, such as financial statements, required by companies. If it is unavoidable, for example, that a subsidiary in China cannot work, a postponement will be granted.
Based on the Financial Instruments and Exchange Act, listed companies are required to submit their business conditions to the government on a regular basis in securities reports and quarterly financial reports.
For example, a company ending March will need to submit a nine-month earnings report by the middle of this month, up to December last year.
However, due to the spread of the new coronavirus, it is possible that a subsidiary in China will not be able to perform necessary work, such as checking by an auditing firm, and will not be able to submit reports by the deadline in the future.
For this reason, the Financial Services Agency has granted a special case of postponement of submission if unavoidable circumstances are confirmed.
The Tokyo Stock Exchange also requires the company to announce its annual and quarterly financial results within 45 days of the end of the period, but if the totals are too late due to the spread of the new coronavirus, the announcement will be postponed. It is a policy to admit.
However, the TSE has decided to require that the details of the situation be disclosed in detail, as the impact of the spread of infection on corporate management is important information for investors.