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(Provisional Translation)
Updated August 26, 2020
Financial Services Agency

Information on COVID-19 (Novel Coronavirus)

* 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 April 7, 2020, English version: published April 16, 2020)

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
(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 for Financial Services, Requests to Financial Institutions (related to cash flow support)

■ Statement by Minister for Financial Services

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)

Cash Flow Support for Companies as Impact of COVID-19 (Novel Coronavirus) Outbreak Grows

 (PDFJapanese versionopen new window: published March 6, 2020, PDFEnglish versionopen new window: published March 13, 2020)

Other Statement by Minister

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 May 14, 2020, English version: published June 4, 2020)

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 May 4, 2020, English version: published May 27, 2020)

On maintaining the function of the financial system and financial markets under the declaration of a state of emergency responding to the spread of COVID-19

 (Japanese versionopen new window: published April 16, 2020, English version: published April 17, 2020)

On maintaining the function of the financial system and financial markets under the declaration of a state of emergency responding to the spread of COVID-19

 (Japanese versionopen new window: published April 7, 2020, English version: published April 7, 2020)

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

The FSA makes the following requests to financial institutions.

Cash Flow Support for Companies in Consideration of the Spread and Prolongation of the Impact of COVID-19 (Novel Coronavirus) Outbreak (Request)

 (PDFJapanese versionopen new window: published June 10, 2020, PDFEnglish versionopen new window: 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.

 (PDFJapanese versionopen new window: published May 27, 2020, PDFEnglish versionopen new window: 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)

 (PDFJapanese versionopen new window: published May 27, 2020, PDFEnglish versionopen new window: 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)

 (PDFJapanese versionopen new window: published May 8, 2020, PDFEnglish versionopen new window: 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)

 (PDFJapanese versionopen new window: published April 27, 2020, PDFEnglish versionopen new window: 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)

 (PDFJapanese versionopen new window: published April 7, 2020, PDFEnglish versionopen new window: 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

 (PDFJapanese versionopen new window: published March 6, 2020, PDFEnglish versionopen new window: 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

Notice regarding the form of the certificates to be issued to COVID-19 patients with mild or no symptoms staying at designated facilities or at home (request)

 (PDFJapanese versionopen new window: published May 19, 2020, PDFEnglish versionopen new window: published June 4, 2020)

【Request for policyholder protection and taking into account the circumstances of respective local governments】
With regard to certificates required for the payment of insurance benefits for hospitalization in relation to the COVID-19 infection, the FSA requested insurance companies to take flexible measures, while taking into account the circumstances faced by respective local governments.

Consideration by Association Members in Making Payments to Affiliated Stores amid the COVID-19 Pandemic (Request)

 (PDFJapanese versionopen new window: published May 11, 2020, PDFEnglish versionopen new window: published May 27, 2020)

【Request to cashless payment service providers regarding payments to affiliated stores】
The FSA issued the following request to the Japan Payment Service Association with regard to consideration to be given by its members in making payments to affiliated stores amid the COVID-19 pandemic.
Cashless payment service providers are requested to meticulously and empathically respond to consultations from affiliated stores affected by the COVID-19 infection with regard to the timing of reimbursement of advance payments and expenses for reimbursement, etc., and endeavor to take flexible and appropriate measures, such as the alteration of the timing.

Consideration to Companies in Relation to the Payment of Rent (Request)

 (PDFJapanese versionopen new window: published May 8, 2020, PDFEnglish versionopen new window: published May 27, 2020)

【Request for consideration to companies in relation to the payment of rent】
The FSA issued the following request to investment management business operators with regard to consideration to companies in relation to the payment of rent.
For tenants who are counterparties to lease contracts with relevant investment corporations, etc. and are facing difficulties in paying rent, consider flexible measures, such as granting reduction or exception of or moratoriums on payments of rent, while fulfilling accountability to investors as necessary.

Further Strengthening of Cooperation with the Japan Finance Corporation, etc. (Request)

 (PDFJapanese versionopen new window: published April 21, 2020, PDFEnglish versionopen new window: published May 19, 2020)

【Request for further strengthening cooperation with the Japan Finance Corporation, etc.】
The FSA made the following request for further strengthening cooperation with the Japan Finance Corporation, etc. to the Japanese Bankers Association, the Regional Banks Association of Japan, The Second Association of Regional Banks, The National Association of Shinkin Banks, and the Community Bank Shinyo Kumiai.
With regard to loans provided by private financial institutions as bridge loans until loans are provided by the Japan Finance Corporation, etc., when requests for refunding by the Japan Finance Corporation, etc. are filed both by companies and relevant private financial institutions, the Japan Finance Corporation, etc. will accept such requests to the extent possible. Based on this policy, private financial institutions are requested to proactively provide bridge loans or otherwise offer cash flow support for companies.
In order to facilitate the aforementioned efforts for cash flow support, private financial institutions are requested to closely cooperate with branches of the Japan Finance Corporation, etc. in respective areas in executing loans, while referring to past cooperative efforts between the Japan Finance Corporation, etc. and private financial institutions.

Notice regarding the handling of bills and checks, etc. in consideration of the impact of the COVID-19 (novel coronavirus) infection

 (PDFJapanese versionopen new window: published April 16, 2020, PDFEnglish versionopen new window: published April 23, 2020)

Application of Policy Conditions in Relation to COVID-19 Infection (request to insurance companies)

 (PDFJapanese versionopen new window: published April 10, 2020, PDFEnglish versionopen new window: published April 23, 2020)

【Request related to protecting policyholders】
Insurance companies should take measures to avoid possible confusion in each situation in advance and are requested to consider flexible interpretation and application of policy conditions, and to devise required measures for each policy plan in terms of protecting policyholders without adhering to precedents.

Cash Flow Support for Companies as Impact of COVID-19 (Novel Coronavirus) Outbreak Grows (Request)

 (PDFJapanese versionopen new window: published March 24, 2020, PDFEnglish versionopen new window: published April 6, 2020)

【Request related to support for companies】
To endeavor to strengthen cooperation with the Japan Finance Corporation, etc., in order to make every effort in financing support for companies.
For companies who have carried out a change in conditions concerning existing loans, to sincerely and conscientiously respond to continuing financing support even after the change in conditions as well as consultations for management improvements.
To actively cooperate with credit guarantee corporations, and make practical use of the safety net guarantee system and other systems based on additional requests of the Small and Medium Enterprise Agency.

Request to insurance companies to take measures in response to the COVID-19 (novel coronavirus) infection

 (Japanese versionopen new window: published March 13, 2020, PDFEnglish versionopen new window: published March 27, 2020)

【Request for  policyholder protection】
 Take the following three actions:
Implementing appropriate measures, such as having flexibility in extending a grace period for payment of premiums and policy renewal;
Communicating the measures mentioned above to stakeholders as many stakeholders, including to insurance policyholders as possible; and
If insurers close providing over-the-counter services and/or take other emergency measures due to the spread of infections, promptly announcing to the public and customers information on such measures, including names of branches or offices.

Request for the Implementation of Measures against COVID-19 (Novel Coronavirus) Outbreak

 (Japanese versionopen new window: published February 7, 2020, PDFEnglish versionopen new window: published March 18, 2020)

【Requests related to support for business operators】
Where a business operators is impacted by the disease, we request that financial institutions provide polite management consultations, such as visiting the business operator, supply the funds necessary for business continuation, and respond appropriately to modify conditions with existing loans.

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 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.

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

○ Financial Stability Board(FSB)


○ Basel Committee on Banking Supervision(BCBS)


○ International Organization of Securities Commissions(IOSCO)


○ International Association of Insurance Supervisors(IAIS)


○ Financial Action Task Force(FATF)

Responses other than the above-mentioned

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

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

  • 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
  • Notice Regarding the Cabinet Order Specifying the Day Specified by Cabinet Order Referred to in Article 2, Paragraph (4) of the Supplementary Provisions of the Act Partially Amending the Banking Act, etc. and the Cabinet Office Order Partially Amending the Regulation for Enforcement of the Banking Act, etc.
     (Japanese versionopen new window: published April 30, 2020, English version: published June 4, 2020)

  • Notice regarding the request for consideration for maintaining employment as responses to the COVID-19 Infection
     (PDFJapanese versionopen new window: published April 17, 2020, PDFEnglish versionopen new window: published May 19, 2020)

  • Notice regarding the conclusion of contracts between banks and electronic payment service providers in consideration of the impact of the COVID-19 (novel coronavirus) infection
     (Japanese versionopen new window: published April 14, 2020, English version: published April 23, 2020)

  • Notice and Request for Visitors
     (Japanese versionopen new window: published April 7, 2020, English version: published April 16, 2020)

  • Implementation timeline for capital adequacy requirements, etc. in Japan
     (Japanese versionopen new window: published March 30, 2020, English version: published April 16, 2020)

  • Reconfirmation of Prudential Standards in Response to the Increasing Impact of the Spread of COVID-19 (Novel Coronavirus)
     (Japanese versionopen new window: published March 17, 2020, PDFEnglish versionopen new window: published April 6, 2020)

  • Cabinet Office Ordinance Concerning Partial Revision of Regulation for Enforcement of the Money Lending Business Act
     (Japanese versionopen new window: published March 16, 2020, English version: published April 6, 2020)

 

Stock Exchange-Related (Available in Japanese)

Publications

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