Risk of Amendments to the Installment Sales Act and Other Laws and Regulations
First written in FY2020. 1 of 3 entries say "Reframed", first in FY2023. Latest entry: FY2025.
3 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「In addition, our remittance services and Shiharai Hisho service operate in an environment where stronger transaction controls and management are required following the enforcement of the Payment Services Act and the Act on Prevention of Transfer of Criminal Proceeds, as well as the formulation of the Financial Services Agency’s Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism.」
The regulatory environment requiring stronger controls and management for the remittance service and Shiharai Hisho service under the Payment Services Act, the Act on Prevention of Transfer of Criminal Proceeds and the Financial Services Agency guidelines is being reconfirmed. - FY2023ReframedAnnual report
「Our payment-processing business operates within a regulatory framework requiring enhanced management of member merchants and other measures following the enforcement of the Installment Sales Act. Our remittance services, Payment Secretarial services and other businesses operate amid requirements to strengthen transaction operations and controls following the enforcement of the Payment Services Act and the Act on Prevention of Transfer of Criminal Proceeds, as well as the formulation by the Financial Services Agency of its Guidelines for Anti-Money Laundering and Combating the Financing of Terrorism. If these laws and regulations are amended in the future, the amendments could affect our business performance depending on their content.」
The scope of the regulatory risks has been expanded beyond the Installment Sales Act to include the Payment Services Act, the Act on Prevention of Transfer of Criminal Proceeds and the Financial Services Agency's guidelines on measures against money laundering and other risks. - FY2020First statedAnnual report
「Our payment-processing business operates within a regulatory framework requiring enhanced management of member merchants and other measures following the enforcement of the Act Partially Amending the Installment Sales Act (the Amended Installment Sales Act), which took effect on 1 June 2018. If the Act is amended further in the future, the amendments could affect our business performance depending on their content.」
The report identifies as a standalone risk the regulatory environment requiring enhanced management of member merchants under the Amended Installment Sales Act, as well as the potential impact of future legislative amendments on business performance.