Operational risk from administrative processing and misconduct
First written in FY2022. 1 of 2 entries say "Materialised", first in FY2024. Latest entry: FY2024.
Choei moved to the "Worse" side of this theme in 2024.
0 other companies' latest entry also says "Materialised".
- FY2024MaterialisedAnnual report
「Due to errors in the application of consumption tax rules to the acquisition of residential rental buildings and other transactions, the Company had underreported and underpaid consumption tax for prior fiscal years. It immediately filed voluntary amended returns and completed payment, including delinquent tax and interest tax, in May 2024.」
Administrative and tax processing risks materialized as errors in the application of consumption tax to residential rental buildings, resulting in underreporting and underpayment. Following the correction, operating income and ordinary income for the fiscal year decreased by ¥205.798 million, and net income decreased by ¥148.435 million. - FY2022First statedAnnual report
「The Company's administrative processing is complex and involves a very large volume of transactions, creating operational risks including administrative processing risks in business operations and administrative and misconduct risks in management operations.」
The Company recognizes incidents and misconduct arising from large volumes of complex administrative processing as risks, and has established system and operational management frameworks as countermeasures.