Litigation arising from non-conformity to contract, accidents and claims, and reputational damage
First written in FY2022. 2 of 3 entries say "Mitigated", first in FY2023. Latest entry: FY2024.
2 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「To prevent such incidents, the company is working to establish a framework for appropriate resolution before matters develop into litigation or other legal proceedings. This includes thorough legal checks before contracts are signed, preparing a complaints-handling manual, internal training to prevent disputes, sharing information among management and relevant departments and consulting legal advisers when complaints or other trouble-related matters arise, sharing cases through the compliance committee and other bodies, and taking out housing defect liability insurance and obtaining ground warranty and termite warranty coverage for properties after handover.」
Litigation and reputational damage risks continue, while the company continues its preventive and response framework involving legal checks, training, insurance, warranties, and information sharing through committees. - FY2023MitigatedAnnual report
「To prevent such incidents, the company is working to establish a framework for appropriate resolution before matters develop into litigation or other legal proceedings. This includes thorough legal checks before contracts are signed, preparing a complaints-handling manual, internal training to prevent disputes, sharing information among management and relevant departments and consulting legal advisers when complaints or other trouble-related matters arise, sharing cases through the compliance committee and other bodies, and taking out housing defect liability insurance and obtaining ground warranty and termite warranty coverage for properties after handover.」
Litigation and reputational damage risks continue, while the company has specified preventive and response measures involving legal checks, training, insurance, warranties, and information sharing through committees. - FY2022First statedAnnual report
「If litigation or other legal proceedings are brought as a result of contractual nonconformities in real estate sold by the company, accidents during construction, or various complaints from neighboring residents and others, the outcome could result in substantial costs, suspension of construction, or damage to the company’s reputation, potentially affecting its operating results and financial position.」
The company describes the possibility of litigation and other legal proceedings arising from contractual nonconformities, construction accidents, and complaints from neighbors, as well as the resulting effects of costs, construction suspension, and reputational damage.