Legal and Regulatory Risks under the Construction Business Act, Antimonopoly Act and Other Laws, and Risks of Administrative Actions
First written in FY2016. 8 of 14 entries say "Restated". Latest entry: FY2023-Q3.
Seikitokyu Kogyo moved to the "Worse" side of this theme in 2017, 9 years before the typical company in this theme (2026).
The whole theme swung hardest in 2021: 1 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Other".
- FY2023-Q3Cancellation litigation concludedAnnual report
「In this litigation, the Tokyo District Court at first instance and the Tokyo High Court at second instance issued judgments dismissing the company's claim. The company had filed an appeal and a petition for acceptance of appeal with the Supreme Court, but on 10 November 2022 the Supreme Court dismissed the appeal and decided not to accept the case for appeal.」
The proceedings concerning the action to rescind part of the surcharge payment order under the Antimonopoly Act were finalized following the Supreme Court's decision to dismiss the appeal and decline to accept the appeal. - FY2023-Q2RestatedAnnual report
「In connection with the pricing of asphalt mix, the Company received an order for corrective measures and an order for payment of a surcharge under the Antimonopoly Act from the Japan Fair Trade Commission on 30 July 2019, on the grounds that it had engaged in conduct violating the Antimonopoly Act before 27 January 2015. However, because the Company disagreed with the Japan Fair Trade Commission on part of the sales included in the calculation of the surcharge, it filed an action in January 2020 to rescind part of the surcharge payment order.」
The company continues to disclose the status of the cease-and-desist order, surcharge payment order and action for revocation related to the Antimonopoly Act violation. - FY2022RestatedAnnual report
「Although our group works to comply with these laws and regulations by establishing various manuals, providing education and training, and conducting internal audits, the enactment, amendment or repeal of laws and regulations that increase costs or impose new business restrictions, changes in applicable standards, or administrative sanctions for violations of laws and regulations could adversely affect our operating results and financial position.」
The company continues to disclose legal and regulatory risks and its response through manuals, training and internal audits. - FY2022-Q3RestatedAnnual report
「The company received cease-and-desist and surcharge payment orders under the Antimonopoly Act from the Japan Fair Trade Commission on 30 July 2019, on the grounds that it had engaged in conduct violating the Antimonopoly Act before 27 January 2015 in connection with the determination of asphalt mixture sales prices. Because the company disagreed with the Japan Fair Trade Commission in part over the sales included in the basis for calculating the surcharge, it filed an action in January 2020 to revoke part of the surcharge payment order. On 5 August 2021, the Tokyo District Court issued a judgment dismissing the company's claim. The company appealed to the Tokyo High Court on 18 August 2021.」
The company continues to disclose the status of the cease-and-desist order, surcharge payment order and action for revocation related to the Antimonopoly Act violation, including the dismissal at first instance and the appeal. - FY2022-Q2RestatedAnnual report
「The company received cease-and-desist and surcharge payment orders under the Antimonopoly Act from the Japan Fair Trade Commission on 30 July 2019, on the grounds that it had engaged in conduct violating the Antimonopoly Act before 27 January 2015 in connection with the determination of asphalt mixture sales prices. Because the company disagreed with the Japan Fair Trade Commission in part over the sales included in the basis for calculating the surcharge, it filed an action in January 2020 to revoke part of the surcharge payment order.」
The company continues to disclose the status of the cease-and-desist order, surcharge payment order and action for revocation related to the Antimonopoly Act violation. - FY2020RestatedAnnual report
「The company received cease-and-desist and surcharge payment orders under the Antimonopoly Act from the Japan Fair Trade Commission on 30 July 2019, on the grounds that it had engaged in conduct violating the Antimonopoly Act before 27 January 2015 in connection with the determination of asphalt mixture sales prices.」
The company continues to disclose the fact that it received administrative sanctions related to the Antimonopoly Act, as well as the risks associated with laws, regulations and administrative sanctions. - FY2020-Q2RestatedAnnual report
「On 28 February 2017, the company was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with the setting of the selling prices of asphalt mixtures sold nationwide. The company subsequently fully cooperated with the Commission's investigation, but on 30 July 2019 received from the Commission a cease-and-desist order and a surcharge payment order.」
The company continues to disclose its receipt of the 30 July 2019 cease-and-desist order and surcharge payment order in the Antimonopoly Act case concerning asphalt mixture sales prices. - FY2020-Q1MaterialisedAnnual report
「On 28 February 2017, the company was subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating the Antimonopoly Act in connection with the setting of the selling prices of asphalt mixtures sold nationwide. The company subsequently fully cooperated with the Commission's investigation, but on 30 July 2019 received from the Commission a cease-and-desist order and a surcharge payment order.」
In the Antimonopoly Act case concerning asphalt mixture sales prices, a cease-and-desist order and a surcharge payment order were imposed as administrative sanctions. - FY2019MaterialisedAnnual report
「The company received a 30-day business suspension order from the Ministry of Land, Infrastructure, Transport and Tourism on 7 June 2018, from 22 June 2018 to 21 July 2018, covering its public- and private-works paving operations nationwide, for conduct violating the Antimonopoly Act in connection with bids for paving work ordered in prior fiscal years by the Tokyo Metropolitan Government, Tokyo Port Terminal Co., Ltd. and Narita International Airport Corporation.」
The annual report also states that a 30-day business suspension order related to an Antimonopoly Act violation was imposed. The company also received notice of a proposed order concerning asphalt mixture sales, indicating that legal and administrative-sanction risks continue to materialise in specific ways. - FY2019-Q2RestatedAnnual report
「The company received a 30-day business suspension order from the Ministry of Land, Infrastructure, Transport and Tourism on 7 June 2018, from 22 June 2018 to 21 July 2018, covering its public- and private-works paving operations nationwide, for conduct violating the Antimonopoly Act in connection with bids for paving work ordered in prior fiscal years by the Tokyo Metropolitan Government, Tokyo Port Terminal Co., Ltd. and Narita International Airport Corporation.」
The 30-day business suspension order related to an Antimonopoly Act violation has been reiterated, with no significant new changes disclosed regarding the status of legal and administrative-sanction risks. - FY2018MaterialisedAnnual report
「On 7 June 2018, in connection with conduct violating the Antimonopoly Act in bids for paving work ordered by the Tokyo Metropolitan Government and Narita International Airport Corporation, the Ministry of Land, Infrastructure, Transport and Tourism imposed a 30-day business suspension order, from 22 June 2018 to 21 July 2018, covering the company's public- and private-works paving operations nationwide.」
In addition to the previous sanctions related to an Antimonopoly Act violation, a 30-day business suspension order covering public and private works was imposed. - FY2017RestatedAnnual report
「The company received a cease-and-desist order from the Japan Fair Trade Commission in September 2016 for conduct violating the Antimonopoly Act in connection with bids for paving work in prior fiscal years, followed by a business suspension order from the Ministry of Land, Infrastructure, Transport and Tourism in November 2016.」
The annual report also states that a cease-and-desist order related to an Antimonopoly Act violation and a business suspension order from the Ministry of Land, Infrastructure, Transport and Tourism occurred. - FY2017-Q3MaterialisedAnnual report
「Following a cease-and-desist order from the Japan Fair Trade Commission, on 17 November 2016 the Ministry of Land, Infrastructure, Transport and Tourism imposed a 45-day business suspension order, from 2 December 2016 to 15 January 2017, covering the company's public-works paving operations nationwide.」
The risk of administrative sanctions related to violations of laws and regulations materialised in the form of a business suspension order imposed by the Ministry of Land, Infrastructure, Transport and Tourism. - FY2016First statedAnnual report
「In conducting its business, our group is subject to legal and other regulations under the Construction Business Act, Antimonopoly Act, Industrial Safety and Health Act and other legislation. Our group strives to comply with these legal and other regulations, but the enactment, revision or abolition of regulations that increase costs or impose new business restrictions, changes in applicable standards, or administrative sanctions imposed for regulatory violations could adversely affect our business results and financial condition.」
Changes in laws and regulations and administrative sanctions, among other factors, are cited as risks affecting business results and financial condition.