Changes in legal regulations, violations of laws and regulations, and compliance costs
First written in FY2017. 1 of 2 entries say "Restated". Latest entry: FY2018.
The whole theme swung hardest in 2020: 12 of 85 companies on the "Worse" side.
122 other companies' latest entry also says "Restated".
- FY2018RestatedAnnual report
「The Group’s domestic and overseas businesses are subject to the legal regulations of each country. Although it has established and operates appropriate internal control systems, including compliance and ensuring the integrity of financial reporting, the possibility of future violations of laws or regulations cannot be ruled out. Changes in laws and regulations could also result in compliance costs and affect the Group’s financial position and operating results.」
The risks associated with the laws and regulations of each country, violations of laws and regulations, and compliance costs resulting from regulatory changes, together with responses through internal controls, are reiterated. - FY2017First statedAnnual report
「The Group’s domestic and overseas businesses are subject to the legal regulations of each country. Although it has established and operates appropriate internal control systems, including compliance and ensuring the integrity of financial reporting, the possibility of future violations of laws or regulations cannot be ruled out. Changes in laws and regulations could also result in compliance costs and affect the Group’s financial position and operating results.」
The Group disclosed legal and regulatory risks, including the possibility of violations of laws and regulations, compliance costs resulting from changes in regulations, and ensuring the integrity of financial reporting.