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Japan Financial Services Agency: Information On COVID-19 (Novel Coronavirus)

Date 05/10/2021

* Update of the English website may take a little time. For the latest information, please refer to our Japanese website.open new window

 

Click the information you want to know.

! Warning !

 It has been seen that calls, email, SMS, SNS, websites, etc. are used as a means of communication by criminals taking advantage of the outbreak of COVID-19.
 FSA urges individuals to remain vigilant against unknown calls, email and websites as such to avoid crime related to the COVID-19 pandemic.

"FSA urges vigilance on Crime Taking Advantage of the COVID-19 Pandemic!"
(Japanese versionopen new window: published September 10, 2020, English version: published December 1, 2020


October

 銀行をご利用のお客様へ－新型コロナウイルスの感染を防ぐためのお願い－（2021年10月）英語版（PDF）  

Notice on Establishment of FSA Consultation Hotline Related to COVID-19

The FSA has established the Consultation Hotline Related to COVID-19 as outlined below. The purpose of the Hotline is to accept queries regarding to which contact point at financial institutions inquiries about COVID-19 should be directed, or consultations concerning transactions with financial institutions that have been impacted by COVID-19.
The FSA Consultation Hotline Related to COVID-19 is a toll-free line, so feel free to call for a consultation if you have concerns relate to transaction with financial institutions.
For more information, please see the website listed below.

Notice on Establishment of the FSA Consultation Hotline Related to COVID-19 (Novel Coronavirus)open new window (February 28, 2020) (Available in Japanese)

0120-156811 (Toll-free) (10:00 a.m. to 5:00 p.m., Weekdays)
(Available only in Japanese)
Note: To dial using an IP phone, please call 03-5251-6813.

For those facing difficulties with cash flow as impact of the ongoing COVID-19 epidemic spreads

Effectively Interest-free and Unsecured Loans by Private Financial Institutions

the government introduced effectively interest-free and unsecured loans provided via private financial institutions, utilizing local governments’ loan programs for the purpose of helping SMEs continue their businesses.
* Depending on the local governments’ loan programs, interest will be reimbursed to borrowers afterwards.

Effectively Interest-free and Unsecured Loans by Private Financial Institutions   ※Application has been closed.
(Japanese versionopen new window: published May 1, 2020, English version: published May 27, 2020)

For those facing difficulties with cash flow (leaflet)

Financial Services Agency (FSA) has made a leaflet for those facing difficulties with cash flow as impact of the ongoing COVID-19 epidemic spreads.
Banks are providing timely and flexible cash flow support for companies and individuals. Please actively consult with your main banks.

”For those facing difficulties with cash flow as impact of the ongoing COVID-19 epidemic spreads”
(PDFJapanese versionopen new window: published April 8, 2020, PDFEnglish versionopen new window: published April 8, 2020)

leaflet

Notice to call for attention to prevent multiple debts
(Concerning factoring by paying high commission fees)

When a company concludes a factoring contract to procure funds through an assignment of accounts receivable, etc. by paying high commission fees or at high discount rates, there is a risk that the company may face a tighter cash-flow situation and result in owing multiple debts. Please pay great attention to avoid such situation.

Notice to call for attention to prevent multiple debts (Concerning factoring by paying high commission fees)
(Japanese versionopen new window: published April 28, 2020, English version: published May 27, 2020)

Statement by Minister of State for Financial Services, Requests to Financial Institutions (related to cash flow support)

■ Statement by Minister of State for Financial Services

Maintenance of the Functions of the Financial System and Financial Markets under the Declaration of a State of Emergency Responding to the Spread of the COVID-19 Infection

(Japanese versionopen new window: published April 23, 2021,English version: published May 6, 2021)

Maintenance of the Functions of the Financial System and Financial Markets under the Declaration of a State of Emergency Responding to the Spread of the COVID-19 Infection

(Japanese versionopen new window: published January ７, 2021,English version: published March １, 2021)

Request for Thorough Support for Companies Based on the Comprehensive Economic Measures to Secure People’s Lives and Livelihoods toward Relief and Hope

(Japanese versionopen new window: published December 8, 2020,English version: published January 28, 2021)

Amendment to the “Act on Special Measures for Strengthening Financial Functions”

(Japanese versionopen new window: published May 27, 2020, English version: published May 27, 2020)

Future Cash Flow Support for Companies

(Japanese versionopen new window: published May 27, 2020, English version: published June 23, 2020)

Future Responses in Consideration of the Declaration of the Cancellation of a State of Emergency in Relation to COVID-19 Infection

(Japanese versionopen new window: published May 25, 2020, English version: published June 23, 2020)

Cash Flow Support for Businesses (Statement by Mr. Aso, Deputy Prime Minister, Minister of Finance and Minister of State for Financial Services, and Mr. Kajiyama, Minister of Economy, Trade and Industry)

(Japanese versionopen new window: published April 27, 2020, English version: published May 27, 2020)

On ensuring sound market function and market fairness

(Japanese versionopen new window: published March 24, 2020, English version: published March 24, 2020)

Other Statement by Minister

■ Notice on Requests to Financial Institutions (related to cash flow support)

The FSA makes the following requests to financial institutions.

Thorough Cash Flow Support, etc. for Companies According to Individual Circumstances
(Japanese version: published September 10, 2021, English version: published October 4, 2021)

We request the following:

Under the current circumstances where the declaration of a state of emergency was reextended and the impact of the COVID-19 infection is being prolonged, financial institutions are required to continue their utmost efforts to ensure cash flow support meticulously and promptly depending on needs, while positively ascertaining the business conditions, in consideration of the impact of the extended declaration, under which people are requested to refrain from going out unnecessarily, companies are required to suspend business or shorten business hours, and various events are subject to restrictions.

Thorough Cash Flow Support, etc. for Companies According to Individual Circumstances
(Japanese version: published June 10, 2021, English version: published July 15, 2021)

We request the following:

Due to the further expansion of the impact of the COVID-19 infection, the national government decided to re-extend the declaration. Financial institutions are required to continue their utmost efforts to ensure cash flow support meticulously and promptly, while positively ascertaining the business conditions and funding needs of companies, in consideration of the impact of the extended declaration, under which people are requested to refrain from non-essential outings, companies are required to suspend business or shorten business hours, and various events are subject to restrictions.

Cash Flow Support for Companies in Response to the Extension of the Declaration of a State of Emergency  
(Japanese version: published May 12, 2021, English version: published June 3, 2021)

We request the following:

Due to the further expansion of the impact of the COVID-19 infection, the national government decided to extend the declaration. Financial institutions are required to continue their utmost efforts to ensure cash flow support meticulously and promptly, while positively ascertaining the business conditions and funding needs of companies, in consideration of the impact of the extended declaration, under which people are requested to refrain from non-essential outings, companies are required to suspend business or shorten business hours, and various events are subject to restrictions.

Cash Flow Support for Companies in Response to the Declaration of a State of Emergency and Responses Required during the Golden Week Holidays  
(Japanese version: published April 28, 2021, English version: published June 3, 2021)

We request the following:

Due to the further expansion of the impact of the COVID-19 infection, the national government issued the declaration of a state of emergency again. Financial institutions are requested to fully ascertain companies' business conditions in light of the influence of the declaration and make the utmost efforts to meticulously and promptly offer cash flow support.

Cash Flow Support for Companies Including Those Providing Accommodation and Eating and Drinking Services, etc. (Request)   
(Japanese version: published March 25, 2021, English version: published May 25, 2021)

We request the following:

Businesses providing accommodation and eating and drinking services, in particular, have been seriously affected by the restriction of economic activities. The national government has compiled emergency financial support packages to assist business owners with their efforts to continue or reconstruct their businesses while meticulously responding to their needs, and requests financial institutions to provide cash flow support based thereon positively to companies, including those providing accommodation and eating and drinking services.

Bridge Loans Until the Payment of Cooperation Money, etc. to Dining and Drinking Establishments   
(Japanese version: published April 16, 2021, English version: published May 24, 2021)

We request the following:

Requested cooperation in providing prompt and active cash flow support in accordance with the circumstances and needs of respective businesses, including the provision of bridge loans for funds that are necessary until the cooperation money to Dining and Drinking Establishments and other benefits are actually paid.

Facilitation of Fiscal Year-end Finance for Companies 
(Japanese version: published March 8, 2021, English version: published April 23, 2021)

We request the following:

In consideration of the prolongation of the impact of the COVID-19 infection into the second business year and in light of an expected continuation of influence exerted on companies by restriction of economic activities and other policies, the FSA held a meeting to exchange views on the facilitation of finance for companies including SMEs between government officials and representatives of financial institutions and issued a request for cooperation for the facilitation of fiscal year-end finance for companies.

Cash Flow Support for Companies in Consideration of the Extension of the Declaration of a State of Emergency  
(Japanese version: published March 4, 2021, English version: published April 22, 2021)

We request the following:

The FSA requested groups of major banks, etc. not only to positively provide cash flow support to SMEs but to also check the funding needs of large companies and leading medium-sized companies, meticulously respond to consultations from companies, kindly and empathically offer services irrespective of trade statuses, verify measures to prevent abuse of dominant bargaining positions by banks, and occasionally inspect whether friendly services are being provided to companies at sales bases.

Cash Flow Support for Companies in Consideration of the Extension of the Declaration of a State of Emergency  
(Japanese version: published February 5, 2021, English version: published April 20, 2021)

We request the following:

Due to the further expansion of the impact of the COVID-19 infection, the national government decided to extend the declaration. Financial institutions are required to continue their utmost efforts to ensure cash flow support towards the fiscal year end in consideration of such impact of the infection and the business conditions and funding needs of SMEs and leading medium-sized companies.

Cash Flow Support for Companies in Response to the Expansion of the Impact of the COVID-19 Infection  
(Japanese version: published January 19, 2021, English version: published February 25, 2021)

We request the following:

Due to the further expansion of the impact of the COVID-19 infection, the national government declared a state of emergency. In consideration of the influence of the declaration, the FSA requests financial institutions to continue making their utmost efforts to meticulously and promptly provide cash flow support to companies while sufficiently ascertaining their business conditions.

Cash Flow Support for Companies in Response to Measures to Prevent the Spread of Infection toward Year-end and New-year Holidays  
(Japanese version: published December 18, 2020, English version: published February 25, 2021)

We request the following:

From the perspective of taking the greatest possible measures to prevent any further spread of infection toward the year-end and new-year holidays, the national government has decided to suspend the Go To travel campaign. Therefore, financial institutions etc. are requested to make further efforts to secure cash flow support.

Request for Thorough Support for Companies Based on the Comprehensive Economic Measures to Secure People’s Lives and Livelihoods toward Relief and Hope  
(Japanese version: published December 8, 2020, English version: published January 28, 2021)

We request the following:

  • Requested to combine various means, such as deferment of payments or alteration of other loan conditions, proper loans, and loans guaranteed by Credit Guarantee Corporations, thereby offering support in accordance with companies' needs, towards the end of the year or the business year.
  • Requested to offer support for management improvement and business reconstruction and transformation to companies that face challenges not limited to funding difficulties amid the prolonged COVID-19 pandemic while utilizing funds contributed by the Regional Economy Vitalization Corporation of Japan, etc. and subordinated loans recognizable as capital provided by the Japan Finance Corporation, etc.
  • Requested to closely collaborate with local governments, Credit Guarantee Corporations, government financial institutions, as well as with the SME Revitalization Support Committee, certified public tax accountants and other relevant local organizations, upon offering support for companies.

Facilitation of Year-end Finance for SMEs and Small Businesses  
(Japanese version: published November 30, 2020, English version: published January 21, 2021)

We request the following:

  • In consideration of the current circumstances in which there still are businesses that are facing serious funding difficulties due to the impact of the COVID-19 infection and in light of an expected increase in demand for operating capital toward the end of the year or the business year, the FSA held a meeting to exchange views on the facilitation of finance for SMEs, etc. between government officials and representatives of financial institutions, and issued a request for cooperation for the facilitation of year-end finance for SMEs and small businesses to the following financial associations.

Cash Flow Support for Companies in Consideration of the Impact of Suspension of Events, etc.  
(Japanese version: published December 17, 2020, English version: published January 15, 2021)

We request the following:

  • Requested to meticulously provide consultation, make loans appropriately on a timely basis, flexibly secure collateral, and alter loan conditions including deferment of payments so that SMEs and small businesses will not face funding difficulties affected by the suspension or postponement of events and resulting refunds due to the current spread of the COVID-19 infection.

Cash Flow Support for Companies in Consideration of the Spread and Prolongation of the Impact of COVID-19 (Novel Coronavirus) Outbreak (Request) 
(Japanese version: published June 10, 2020,  English version: published June 23, 2020)

We request the following:

  • Companies to which you have already provided loans may make consultations on new loans due to the prolonged impact of COVID-19 infection. Please deal with such consultations with respect based on the supplementary budget, which expanded countermeasures against the pandemic.
  • Endeavor to offer support promptly and positively depending on the circumstances of respective companies, including loans for funds that become necessary until the payment of various benefits such as subsidies for sustaining businesses, rent assistance subsidy, and employment adjustment subsidy.
  • As we have repeatedly requested, government financial institutions, in particular, are requested to give maximum consideration in loan screening depending on the circumstances of respective companies, instead of making judgments formalistically based only on such data as whether they have deficits or excessive debts or their loan terms have already been modified.

Request concerning home loans, etc.  
(Japanese version: published May 27, 2020, English version: published June 23, 2020)

  • At a public meeting with business organizations, the FSA requested prompt and flexible responses to modification of conditions of home loans, etc.

Cash Flow Support for Companies under the Second Supplementary Budget for FY2020 (Request) 
(Japanese version: published May 27, 2020, English version: published June 23, 2020)

【Request concerning cash flow support for companies】

  From the perspective of making utmost efforts for further securing prompt and proper support measures for companies, such as the deferment of principal payments or alteration of other loan conditions and the provision of new loans, depending on the circumstances of respective companies, the FSA publicizes the following matters to note.
  • The FSA respects financial institutions' decisions to maintain previous evaluations regarding customers that they had recognized as being financially sound before the spread of COVID-19 infection.
  • We will analyze the balances of private financial institutions' proper loans and conduct hearings concerning the status of their cash flow support for companies, such as whether loan balances are decreasing or not, while referring to loans and guarantees provided by government financial institutions, etc.
  • Active use of borrowings recognizable as capital is recommendable and we will clearly indicate this in the Guidelines for Supervision.

Cash Flow Support for Businesses regarding Rent (Request)
(Japanese version: published May 8, 2020, English version: published May 27, 2020)

【Request for cash flow support regarding rent】

  • For SMEs and individuals facing difficulties in paying rent, promptly and flexibly provide new loans or bridge loans using the newly introduced substantially no-interest and unsecured loan system or other loan programs, or modify terms for existing loans such as granting reduction or deferment of payments on principal and interests.
  • For owners of hotels, leisure facilities, and commercial buildings, promptly and flexibly provide new loans or bridge loans, or alter conditions for existing loans such as granting reduction or deferment of payments on principal and interests.
    In particular, when owners are granting tenants reduction or deferment on payments of rent for a certain period of time, financial institutions are urged to take prompt and flexible measures for the relevant period of time, granting reduction or deferment on payments of loans.
  • With regard to fees and penalty charges that are normally required upon modification of terms for existing loans, give special consideration in light of each customer's circumstances.

Cash Flow Support for Businesses following the “Emergency Economic Measures to cope with COVID-19” (Request to financial institutions)  
(Japanese version: published April 27, 2020, English version: published May 27, 2020)

【Request regarding support for companies】

  • Exhaustively offer cash flow support by providing funds under the substantially no-interest and unsecured loan system promptly and properly.
  • On that occasion, promote one-stop procedures to integrate and accelerate various procedures for providing loans by the use of local governments' loan programs, in consideration of companies' convenience.
  • Depending on the circumstances of individual companies in urgent need of funds, positively provide bridge loans for funds that are necessary until financial institutions' loans, such as those by the use of local governments' loan programs, are provided or various benefits are actually paid.
  • Open branches as necessary and develop a system to respond to consultations from companies also during the Golden Week holidays from May 2 to 6.

Cash Flow Support for Companies in Consideration of the Novel Coronavirus Disease (COVID-19) Emergency Economic Measures (Request) 
(Japanese version: published April 7, 2020, English version: published April 16, 2020)

【Request pertaining to support for companies and individuals】

  •   "System to Enable Companies to Obtain Substantially Interest-Free and Unsecured Loans from Private Financial Institutions by the Use of Local Governments' Loan Programs"
  •   Do not treat all cases automatically and formalistically, where companies fall foul of financial covenants.
  •   Regarding home loans and loans for individuals, make prompt and flexible responses in changing loan conditions while fully taking into account individual customers' needs, based on past requests from the FSA.

Cash Flow Support for Companies as Impact of COVID-19 (Novel Coronavirus) Outbreak Grows 
(Japanese version: published March 6, 2020, English version: published April 6, 2020)

【Request related to support for companies】

The Minister requested:
  •   Determine the business conditions and short-term cash flow at companies in even greater detail by visiting their facilities, setting up emergency consultation desks, etc.
  •   Follow up carefully on circumstances at companies that have existing loans and be quick and flexible in changing loan conditions
  •   Actively implement emergency lending programs for new loans (and make collateral/guarantee requirements more flexible) to meet the needs of companies promptly and appropriately, including the use of safety net loans/guarantees from policy financial institutions and credit guarantee associations
  •   Establish systems capable of providing prompt and appropriate support for companies.
Other publications

Concrete Measures Taken by Financial Institutions in Response to the COVID-19 Infection

The FSA has requested financial institutions to make utmost efforts in response to the COVID-19 infection, in accordance with the situations of respective companies, such as the alteration of loan conditions and provision of new loans, and has confirmed the implementation status through special hearings or other means, while assigning top priority to promoting cash flow support for companies in conducting inspection and supervision.
Out of confirmed concrete measures, the FSA will compile and publicize those that are helpful for other financial institutions, as needed.

"Concrete Measures Taken by Financial Institutions in Response to the COVID-19 Infection"
(PDFJapanese versionopen new window: updated May 22, 2020, PDFEnglish versionopen new window: updated June 23, 2020)

(Reference) Underlined version of the latest update cases
(PDFJapanese versionopen new window: updated May 22, 2020, PDFEnglish versionopen new window: updated June 23, 2020)

Corporate disclosure, financial reporting and audit, etc.

■ The deadline for submission of annual securities and other reports

The following is a notification regarding the deadline for submission of annual securities and other reports in connection with the COVID-19 infection. If you have any questions, please do not hesitate to contact your local Finance Bureau or its branch office.

"Notice regarding the deadline for submission of annual securities and other reports in connection with COVID-19 infection"
(Japanese versionopen new window: published April 26, 2021, English version: published May 12, 2021)

"Notice regarding the deadline for submission of annual securities and other reports in connection with COVID-19 infection"
(Japanese versionopen new window: published January 8, 2021, English version: published February 25, 2021)

"Notice regarding the deadline for submission of annual securities and other reports in connection with COVID-19 infection"
(Japanese versionopen new window: published February 10, 2020, English version: published March 13, 2020)

■ The corporate disclosure, financial reporting and audit

The networking group is established to support stakeholders' further engagement and have a proper information sharing on the corporate disclosure, financial reporting and audit, in light of the current uncertainty resulting from the COVID-19 outbreak.

"Establishment of the Networking Group on the corporate disclosure, financial reporting and audit of listed companies in Consideration of the Impact of the COVID-19 (Novel Coronavirus) Infection"
(Japanese versionopen new window: published April 3, 2020, English version: published April 16, 2020)

Corporate Year-End Closing of Accounts, Auditing and Shareholders meeting in Response to the Increasing Impact of COVID-19 (Novel Coronavirus)
(Japanese versionopen new window: published April 15, 2020, English version: published April 15, 2020)

Our Responses to Financial reporting and audit of listed companies in consideration to the Impact of the COVID-19 Infection (Main Points)
(PDFJapanese versionopen new window: published July 2, 2020, PDFEnglish versionopen new window: published August 26, 2020)

■ Notice Regarding the Disclosure of Corporate Information Concerning the Impact of the COVID-19 Infection

Based on the Summary of the Discussions publicized by the Accounting Standards Board of Japan, "Incorporating the Effects of the Novel Coronavirus Pandemic when Making Accounting Estimates under Japanese GAAP" (publicized on April 10 and supplemented on May 11, 2020), the FSA publicized the "Notice Regarding the Disclosure of Corporate Information Concerning the Impact of the COVID-19 Infection."

Notice Regarding the Disclosure of Corporate Information Concerning the Impact of the COVID-19 Infection in Quarterly Securities Reports
(Japanese versionopen new window: published July 1, 2020, PDFEnglish versionopen new window: published July 30, 2020)

Publication of "Q&A on the Disclosure of Narrative Information Regarding the Impact of COVID-19 Infection – Key Points for Better Disclosure for Investors –"
(Japanese versionopen new window: published May 29, 2020, English version: published July 9, 2020)

Notice Regarding the Disclosure of Corporate Information Concerning the Impact of the COVID-19 Infection
(PDFJapanese versionopen new window: published May 21, 2020, PDFEnglish versionopen new window: published June 4, 2020)

■ Deadlines for reporting, accounting, and audit work by financial institutions, etc. in consideration of the Impact of the COVID-19 Infection

The FSA publicized new deadlines for reports to be submitted by financial institutions, etc. in consideration of the impact of the COVID-19 infection, and issued an administrative circular concerning companies' accounting and audit work.

Deadline of supervisory reports from financial institutions, etc. in consideration of the impact of the COVID-19 (novel coronavirus) infection
 (Japanese versionopen new window: published January 8, 2021, English version: published February 25, 2021)

Notice regarding accounting and audit work in consideration of the impact of the COVID-19 (novel coronavirus) infection (administrative circular)
(PDFJapanese versionopen new window: published April 24, 2020, PDFEnglish versionopen new window: published May 27, 2020)

Deadline of supervisory reports from financial institutions, etc. in consideration of the impact of the COVID-19 (novel coronavirus) infection
 (Japanese versionopen new window: published March 30, 2020, English version: published April 16, 2020)

International Coordination

The Financial Services Agency (FSA) exchanges information on regulatory and supervisory responses to the impact of COVID-19 with international organizations and foreign authorities. FSA also contributes to discussions on policy responses at international organizations including Standard Setting Bodies (SSBs), and coordinates with other authorities.
The following is the list of links to the information published by international organizations including SSBs.

Publications

Responses other than the above-mentioned

Notice on Requests to Financial Institutions (excepted for cash flow support)

Request for Cooperation upon Commencement of Acceptance of Applications for Monthly Support Money
(Japanese version: published June 15, 2021, English version: published July 15, 2021)

Emergency Responses Concerning Applications and Notifications to be Filed with the FSA in Consideration of the Impact of COVID-19 Infection (information dissemination)
(Japanese version: published June 1, 2021, English version: published July 2, 2021)

Request upon Provision of Temporary Support Grant
(PDFJapanese versionopen new window: published March 8, 2021, English version: published June 3, 2021)

Publication of the Special Provisions for the Application of the Guidelines for Debt Consolidation after a  Natural Disaster to the COVID-19 Infection
(Japanese versionopen new window: published October 30, 2020, English version: published December 1, 2020)

Temporary Responses Concerning Applications and Notifications to be Filed with the FSA in Consideration of the Impact of COVID-19 Infection (information dissemination)
(Japanese versionopen new window: published July 17, 2020, PDFEnglish versionopen new window: published July 30, 2020)

Requests upon Granting of Emergency Student Support Handout for Continuing Studies
(PDFJapanese versionopen new window: published June 8, 2020, PDFEnglish versionopen new window: published June 23, 2020)

Other publications
 

FSA-Related

  • Measures of Financial Institutions, etc. for Working from Home 
 (Japanese versionopen new window: published April 2, 2021, English version: published May 12, 2021)

 

  • Notice Regarding the Order Partially Amending the Regulation for Enforcement of the Labor Bank Act, the Order Partially Amending the Order for Credit Business of Agricultural Cooperatives and Federation of Agricultural Cooperatives, etc. and the Order Partially Amending the Regulation for Enforcement of the Shoko Chukin Bank, Ltd. Act Relating to the Ministry of Economy, Trade and Industry, Ministry of Finance, and the Cabinet Office

 (Japanese versionopen new window: published May 22, 2020, English version: published June 4, 2020)

Other publications
 

Stock Exchange-Related (Available in Japanese)

Publications
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