Insufficient Internal Management Systems amid Rapid Business Expansion
First written in FY2020. 2 of 4 entries say "Restated". Latest entry: FY2023-Q3.
- FY2023-Q3MaterialisedAnnual report
「We believe that the cause of this matter was an inadequate process for identifying payment recipients under contracts with each operating company. In addition, because the payment terms specified in the contracts differed by human-resources database, our comprehensive understanding of those terms, as well as our assessment and review of operational risks, was insufficient.」
The disclosure explains that, regarding the risk of an inadequate internal management structure in response to rapid business expansion, an actual incident occurred in which understanding of contractual terms, identification of payment recipients, and risk assessment and review were insufficient. - FY2022RestatedAnnual report
「Our group believes that establishing an appropriate internal management structure is essential to continuously increasing corporate value. However, we recognize that, having been established only recently, our group is still developing.」
The risk of an inadequate internal management structure in response to rapid business expansion continues to be recognized. - FY2021RestatedAnnual report
「We believe that establishing an appropriate internal management structure is essential to continuously increasing corporate value. However, we recognize that, having been established only recently, our company is still developing.」
The risk of an inadequate internal management structure in response to rapid business expansion continues to be recognized, and the establishment and operation of internal controls are being advanced. - FY2020First statedAnnual report
「We recognize that, having been established only recently, our company is still developing. Although we are working to establish and operate an appropriate internal control system, if an internal management structure suited to rapid future business expansion is not established and operated, this could affect our financial position and operating results.」
The company acknowledges that its internal management structure is still developing because it was established only recently, and identifies preparation for rapid expansion as a risk.