Coronavirus Hampers Japanese Firms' Accounting Work

Economy

Tokyo, April 12 (Jiji Press)--An increasing number of publicly traded companies in Japan are putting off the release of financial statements for the year ended last month due to the coronavirus pandemic.

They face difficulties in tallying up financial data overseas due to restrictions on going outdoors there. Japan's emergency declaration over the virus is also hampering work as the measure has prompted many companies to have their employees work from home.

Construction machinery maker Komatsu Ltd. <6301> put off the release of its financial report from April 30 to May 18, due to a delay in inventory-related work overseas.

Electronics and machinery maker Hitachi Ltd. <6501> will push back its release date until at least mid-May from late April.

Sumitomo Electric Industries Ltd. <5802> and machine tool maker Tsugami Corp. <6101> postponed their announcements due to the impact of lockdowns abroad.

[Copyright The Jiji Press, Ltd.]

Jiji Press