Credit concerns involving clients, subcontractors and joint-venture construction companies
First written in FY2017. 1 of 4 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2021: 4 of 20 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2022MitigatedAnnual report
「To address the above risks, the company has established certain criteria for conducting credit assessments of business partners. It also assesses the risk that the period from handover to collection of construction payments may be prolonged and deliberates the matter at the Board of Directors in accordance with internal standards.」
The company explicitly discloses credit assessments for the credit risks of clients, subcontractors and others, reviews of collection periods, and deliberation by the Board of Directors. - FY2019MaterialisedAnnual report
「In addition, although the company recognized a ¥2 billion allowance for doubtful accounts against advances for materials and other items following the failure of an overseas subcontractor, both ordinary income and net income attributable to owners of the parent increased.」
The credit risk involving subcontractors materialized when an overseas subcontractor failed, and the company recognized a ¥2 billion allowance for doubtful accounts against advances for materials and other items. - FY2018RestatedAnnual report
「If a client experiences credit concerns, this could affect the performance of the Group. Likewise, if a business partner, such as a subcontractor or joint-venture construction company, experiences credit concerns, this could also affect the performance of the Group.」
The risk of credit concerns involving clients, subcontractors and joint construction companies is reiterated. - FY2017First statedAnnual report
「If a client experiences credit concerns, this could affect the performance of the Group. Likewise, if a business partner, such as a subcontractor or joint-venture construction company, experiences credit concerns, this could also affect the performance of the Group.」
The risk of credit concerns involving clients, subcontractors and others that could affect the collection of construction payments and the continuation of construction work is disclosed.