Postponed announcement of financial results of approximately 400 companies listed on the Tokyo Stock Exchange 6:06 on May 4 due to the spread of new corona infection
Due to the spread of the new coronavirus infection, many companies have decided to postpone the announcement of financial results one after another because the accounting results cannot be collected in time. About 16% of the companies listed on the Tokyo Stock Exchange for the fiscal year ended March, which is about 400 companies, is an exceptional situation.
The company's financial results announcements for the fiscal year ending March are concentrated in May every year. However, due to the spread of the new coronavirus infection, accounting companies have been working from home in many companies, and overseas subsidiaries have been closed due to severe out-of-office restrictions, which has delayed the accounting process.
According to the Tokyo Stock Exchange, 392 out of the companies listed in the financial results for the fiscal year ended March 31, which have postponed the financial results announcement by the end of last month or have not decided the time of announcement, accounting for approximately 16% of the total.
It is possible that more companies may postpone the announcement because the government may delay the declaration of an emergency and delay the aggregation of financial results.
The FSA and the Ministry of Justice tolerate delays as it is important to accurately perform settlement of accounts while preventing the spread of infection, and postpone the holding of a general meeting of shareholders that approves settlement of accounts. I am calling.
Manufacturers whose financial results have been announced
One of the companies whose financial results have been announced as "Undecided," is a pump manufacturer "Denki Machinery Manufacturing Co., Ltd." with a production base in Mishima City, Shizuoka Prefecture, which is a second section of the Tokyo Stock Exchange. In the case of this company, it is impossible to announce the financial results because the aggregation work of the subsidiary in India is virtually stopped.
In order to prevent the spread of the new coronavirus in India, the whole country was blocked and locked down from the end of March, and outing was restricted. Most of the approximately 30 local employees are unable to go to work, and the work related to settlement of accounts has not progressed.
Furthermore, it takes time to increase the number of working from home in Japan and to conduct audits by audit firms by video conferencing to avoid the so-called "three denseness".
Hideaki Murabayashi, President of Denkisha Machinery Co., Ltd. said, "It has been an unexpected situation that we have never seen in the past, but we would like to disclose accurate financial data to shareholders as soon as possible. I want to determine the local movements. "