Segregated Management of Customer-Attributable Funds through Trusts
First written in FY2021-Q2. 1 of 2 entries say "Advanced", first in FY2021. Latest entry: FY2021.
0 other companies' latest entry also says "Advanced".
- FY2021AdvancedAnnual report
「Following the enforcement of the aforementioned amended Payment Services Act and related legislation, funds belonging to customers or users became subject to mandatory money trusts with trust companies and other entities. Accordingly, from the current consolidated fiscal year, we have recorded these funds as deposits under current assets on the consolidated balance sheet.」
The company implemented trust-based management of customer funds under the amended Payment Services Act and related legislation and recorded ¥3,890 million as deposits. - FY2021-Q2First statedAnnual report
「Following the enforcement of the aforementioned amended Payment Services Act and related legislation, funds belonging to customers or users became subject to mandatory money trusts with trust companies and other entities. Accordingly, from the first quarter of the consolidated fiscal year, we have recorded these funds as deposits under current assets on the quarterly consolidated balance sheet.」
Following the enforcement of the amended Payment Services Act and related legislation, the company newly described its method of managing customer funds through money trusts with trust companies and other entities and presenting them as deposits on the balance sheet from the first quarter of 2020.