Legal Regulatory Risk from Tighter Export Controls on South Korea
First written in FY2020-Q2. 3 of 7 entries say "Restated". Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024DroppedAnnual report
「④ Legal and regulatory risks In conducting its business activities, the group is subject to various laws and regulations concerning security-related trade controls, product quality, safety, the environment, chemical substances, accounting standards and tax laws, labor matters, transactions and other areas.」
The specific risk relating to the review of the operation of export controls on South Korea, which had previously been disclosed separately, is not identified among the risks in this filing and has been consolidated under general legal and regulatory risks. - FY2021ReframedAnnual report
「In the high-purity chemicals business, although export sales to South Korea decreased, sales in Japan and in regions outside South Korea, including Taiwan, increased.」
While sales continued to decline against the backdrop of the review of the operation of export controls on South Korea, the company indicated that the impact would be mitigated through expanded sales in Japan, Taiwan and other markets. - FY2021-Q3RestatedAnnual report
「In the high-purity chemicals business, although export sales to South Korea decreased, sales in Japan and in regions outside South Korea, including Taiwan, increased.」
While the decline in export sales to South Korea continued, the filing also reports increased sales in Japan and regions outside South Korea. This filing provides no new explanation of the cause of the export-control issue. - FY2021-Q1RestatedAnnual report
「During the cumulative period of the first quarter of the current consolidated fiscal year, export sales in the semiconductor and liquid-crystal division decreased against the backdrop of the review of the operation of export controls on South Korea introduced in July 2019 and other factors. As a result, net sales were ¥8.222 billion, down 15.5% year on year.」
The disclosure continues to report lower export sales in the semiconductor and liquid-crystal division against the backdrop of the review of the operation of export controls on South Korea and its impact on consolidated net sales. - FY2020MaterialisedAnnual report
「The review of the operation of export controls on South Korea reduced shipments in the semiconductor and liquid-crystal division of the high-purity chemicals business, resulting in lower net sales and profit for the current consolidated fiscal year than in the previous fiscal year.」
The company states that the regulatory risk arising from the review of the operation of export controls on South Korea materialized in its results through lower shipments in the semiconductor and liquid-crystal division and lower full-year net sales and profit. - FY2020-Q3RestatedAnnual report
「In the high-purity chemicals business, export sales in the Semiconductor/LCD Division declined against the same period of the previous year, when semiconductor market conditions were strong, due to US-China trade friction, tighter export controls on South Korea and other factors. Net sales were ¥21,249 million, down 15.9% year on year.」
The disclosure continues to report a decline in export sales in the semiconductor and liquid-crystal division against the backdrop of factors including tighter export controls on South Korea. - FY2020-Q2First statedAnnual report
「A review of the operation of export controls for the Republic of Korea began on 4 July 2019, and future developments in export screening could affect the operating results of the group. In the high-purity chemicals business, export sales in the semiconductor and liquid-crystal division decreased against the backdrop of the US-China trade friction and tighter export controls on South Korea, compared with the same period of the previous year when the semiconductor market was buoyant. As a result, net sales were ¥14.783 billion, down 14.0% year on year.」
The review of the operation of export controls on South Korea and developments in export screening are described separately as a legal and regulatory risk for the first time. The company also reports a decline in export sales in the semiconductor and liquid-crystal division against the backdrop of tighter export controls on South Korea and other factors, indicating an impact on results for the current period.