Risk of Amendments to and Violations of Food and Cosmetics-Related Laws and Regulations
First written in FY2016. 3 of 9 entries say "Materialised", first in FY2018-Q1. Latest entry: FY2026.
Tea Life moved to the "Worse" side of this theme in 2017, 1 year before the typical company in this theme (2018).
The whole theme swung hardest in 2017: 2 of 14 companies on the "Worse" side.
17 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「We are subject to various legal regulations relevant to the operation of this business. If we violate these regulations, or if they are strengthened as a result of amendments or other changes」
The risks of violations of and amendments to laws and regulations relating to health foods, pharmaceuticals, cosmetics, general merchandise, real estate and other areas continue to be disclosed. - FY2024RestatedAnnual report
「We are subject to various legal regulations relevant to the operation of this business. If we violate these regulations, or if they are strengthened as a result of amendments or other changes, the Group's business and performance may be affected.」
The risks of violations of and amendments to laws and regulations relating to health foods, pharmaceuticals, cosmetics, general merchandise, real estate and other areas continue to be disclosed. - FY2022WorsenedAnnual report
「On 23 March 2021, the company received a corrective order from the Consumer Affairs Agency under Article 7, Paragraph 1 of the Act against Unjustifiable Premiums and Misleading Representations. As a result, the company may receive an order to pay a surcharge in the future.」
In addition to the previous corrective order, the possibility of a future order to pay a surcharge is disclosed as a contingent liability. - FY2019RestatedAnnual report
「The Group has established and developed internal control and compliance management systems and is working to ensure strict compliance with laws and regulations. However, if it violates legal regulations or if those regulations are strengthened following amendments or other changes, this could affect the Group's business and performance.」
The risk relating to laws and representations, which previously resulted in a corrective order, continues to be disclosed while internal controls and a compliance framework are maintained. - FY2018MaterialisedAnnual report
「The Consumer Affairs Agency issued the Company, dated 29 September 2017, a corrective order under Article 7, Paragraph 1 of the Act against Unjustifiable Premiums and Misleading Representations concerning certain wording in web advertisements for the "Diet Pu-erh Tea" sold by the Company.」
The risk relating to laws and regulations governing advertising representations materialized as a corrective order from the Consumer Affairs Agency, and ¥18 million was recorded for costs related to administrative action during the fiscal year. - FY2018-Q3MaterialisedAnnual report
「Costs related to administrative action 5,394 These are costs and other expenses incurred in responding to a corrective order from the Consumer Affairs Agency.」
Costs of ¥5.394 million for responding to the Consumer Affairs Agency's corrective order were incurred during the cumulative third quarter period. - FY2018-Q1MaterialisedAnnual report
「Costs related to administrative action 5,394 These are costs and other expenses incurred in responding to a corrective order from the Consumer Affairs Agency.」
The risk relating to compliance with laws and regulations materialized in the form of a corrective order from the Consumer Affairs Agency, resulting in ¥5.394 million in response costs. - FY2017WorsenedAnnual report
「In addition, if amendments to the Consumption Tax Act result in an increase in the consumption tax rate and a decline in personal consumption, the Group's performance and financial position may be affected.」
In addition to the existing risks of amendments to and violations of food- and cosmetics-related laws and regulations, the disclosure newly describes the impact of a decline in personal consumption resulting from an increase in the consumption tax rate. - FY2016First statedAnnual report
「Although we have established a compliance framework, including systems to manage the various laws and regulations relevant to this business, if these checking systems fail to function adequately, or if acts violating laws or regulations occur, laws are amended or new laws are enacted, the Group's business and performance may be affected.」
Lists changes to and non-compliance with laws and regulations governing labeling, advertising and sales of food, health foods, cosmetics and other products as risks.