Transaction Risks Arising from Changes in Specifications, Additional Orders, and Failure to Execute Contracts
First written in FY2017. 1 of 2 entries say "Restated". Latest entry: FY2018.
7 other companies' latest entry also says "Restated".
- FY2018RestatedAnnual report
「At exhibitions, events and concerts, sponsors, customers and artists may request specification changes or additional orders even after planning has been completed and the project has entered the so-called preparation stage, including production, and there are cases in which the order value is not finalised until services are provided.」
The company reiterates the transaction risks arising from specification changes, additional orders and unsigned contracts. - FY2017First statedAnnual report
「At exhibitions, events and concerts, sponsors, customers and artists may request specification changes or additional orders even after planning has been completed and the project has entered the so-called preparation stage, including production, and there are cases in which the order value is not finalised until services are provided. In addition, some industries in which the group operates customarily conduct transactions without executing written contracts.」
The company indicates dispute and performance risks arising when order values are not finalised until services are provided and from the business practice of conducting transactions without executed contracts.