Risk of internal controls and governance failing to keep pace with rapid expansion
First written in FY2016. 1 of 3 entries say "Mitigated", first in FY2017. Latest entry: FY2022.
124 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「While securing personnel with experience in administrative functions, we will educate less experienced members and strengthen the management structure to ensure the propriety of business operations, the reliability of financial reporting, and thorough compliance with internal rules and laws and regulations. However, if corporate governance fails to function effectively as the business expands rapidly, the company may be unable to operate its business appropriately, which could have a material impact on the Group's business and performance.」
The company is reaffirming the risk of internal controls and governance failing to function effectively as the business expands rapidly and its response through securing administrative personnel and strengthening the management structure. - FY2017MitigatedAnnual report
「While securing personnel with experience in administrative functions, we will educate less experienced members and strengthen the management structure to ensure the propriety of business operations, the reliability of financial reporting, and thorough compliance with internal rules and laws and regulations.」
In response to the risk of internal controls and governance failing to function effectively as the business expands rapidly, the company is securing and training administrative personnel and enforcing compliance with internal rules. - FY2016First statedAnnual report
「If corporate governance fails to function effectively as the business expands rapidly, the company may be unable to operate its business appropriately, which could have a material impact on the Group's business and performance.」
The company indicates that internal controls and governance may fail to keep pace with rapid business expansion.