I N F O R M A T I O N
For Immediate Release
Company Name: Shinsei Bank, Limited
Name of Representative: Katsuya Kawashima
President and CEO
(Code: 8303, TSE Standard Market)
Announcement Concerning Losses on Devaluation of Securities
for the First Quarter of FY2022
Tokyo (Friday, July 1, 2022) --- Shinsei Bank, Limited (hereinafter, "Shinsei Bank") announces that, owing to significant decline in market value, it has recognized the necessity to book losses on devaluation of securities due to impairment in the first quarter of FY2022 (consolidated) (April 1, 2022 - June 30, 2022) for its securities portfolio classified as "Other securities," which are measured by market value. The said securities are equities held strategically from a business perspective and are not pure investments.
1. Losses on Devaluation of Securities for Q1 FY2022
Total amount of losses on devaluation of securities for the | |
first quarter of the fiscal year ending March 2023 | JPY 16,685 million |
(consolidated) (April 1, 2022 - June 30, 2022) | |
- Shinsei Bank adopts reversal method for the first and third quarter, while it applies separation method for the second and the fourth quarter, for the impairment loss on securities.
- The fiscal year end is March 31.
2. Outlook
As described above, as Shinsei Bank adopts reversal method for the impairment loss on securities for its first quarter FY2022 financial results, it will make a reversal of the amount for losses on devaluation of securities at the beginning of the second quarter term.
In this regard, while Shinsei Bank will leave the full-year earnings forecast for the year ending March 31, 2023 unchanged for the time being, going forward, in an event that the revision of earnings forecast is necessary from various other factors, it will be promptly disclosed.
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Shinsei Bank is a leading diversified Japanese financial institution providing a various range of financial products and services to both institutional and individual customers. The Bank has a network of outlets throughout Japan and is committed in its pursuit of uncompromising levels of integrity and transparency in all of its activities in order to earn the trust of its customers, staff and shareholders. The Bank is committed to delivering long-term profit growth and increasing value for all its stakeholders. News and other information about Shinsei Bank is available at https://www.shinseibank.com/corporate/en/index.html
For further information, please contact:
Group Investor Relations & Corporate Communications Division
Shinsei Bank, Limited (www.shinseibank.com)
Shinsei_PR@shinseibank.com(Inquiries for the media)
Shinsei_IR@shinseibank.com(Inquiries for investor and shareholder relations)
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Shinsei Bank Ltd. published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 06:52:06 UTC.