Guarantees of trade payables by representative directors and directors
First written in FY2016. 1 of 3 entries say "Restated". Latest entry: FY2019.
1 other company's latest entry also says "Dropped".
- FY2019DroppedAnnual report
「The following section describes the principal matters considered potentially capable of becoming risk factors in the development of the Group's business.」
In the current fiscal year's "Business and Other Risks," no separate disclosure regarding the Representative Director's and Directors' guarantees of trade payables, which had been included through the previous fiscal year, can be found. - FY2017RestatedAnnual report
「At present, personal guarantees provided by the Company's Representative Director and Directors remain outstanding. These guarantees cover obligations under agreements guaranteeing trade payables to wholesale markets. Such guarantees arise under ordinances and from customary practices in wholesale markets. Although the Company intends to eliminate them in the future, doing so remains difficult.」
The Company continues to disclose the outstanding personal guarantees by directors and its policy of eliminating them in the future. - FY2016First statedAnnual report
「At present, personal guarantees provided by the Company's Representative Director and Directors remain outstanding. These guarantees cover obligations under agreements guaranteeing trade payables to wholesale markets. Such guarantees arise under ordinances and from customary practices in wholesale markets. Although the Company intends to eliminate them in the future, doing so remains difficult.」
Personal guarantees by directors related to transactions with wholesale markets remain outstanding. Although the Company has stated its intention to eliminate them in the future, it explains that doing so is difficult.