Risk of Sanctions and Claims for Damages Arising from Violations of Laws and Contracts
First written in FY2017. 1 of 2 entries say "Reframed", first in FY2019. Latest entry: FY2019.
Swcc moved to the "Worse" side of this theme in 2019.
The whole theme swung hardest in 2019: 1 of 9 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2019ReframedAnnual report
「With respect to transfer pricing risk, we determine transaction prices for dealings between the group and overseas subsidiaries and other entities with the utmost care. However, if our views differ from those of the tax authorities, the group’s business performance and other matters may be affected by an increase in its tax burden.」
In addition to the general explanation of the risks of violating laws and contracts, the company has identified transfer pricing risk relating to transactions with overseas subsidiaries. - FY2017First statedAnnual report
「As our group conducts business continuously in Japan and overseas, it is subject to various regulations imposed by regulatory authorities and owes contractual and transactional obligations to a wide range of business partners and other stakeholders. Although the group strives to comply with laws and contracts from a compliance perspective, if a violation of a law or contract occurs, it may be subject to administrative action or sanctions by regulatory authorities and claims for damages from business partners and other stakeholders. In such cases, the group’s business performance and other matters may be affected by lost business opportunities and significant costs.」
In addition to the separate investigation by the Brazilian competition authority, the company has identified the general risks of administrative action, sanctions, and damages claims arising from violations of laws and contracts in Japan and overseas.