Customer Shortfall Recovery Risk
First written in FY2016. 6 of 9 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2017: 1 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The Group has adopted a stop-out system to prevent customers from incurring unforeseen losses when conducting foreign exchange margin trading, over-the-counter securities CFD trading or over-the-counter commodity CFD trading.」
Foreign exchange margin trading, over-the-counter securities CFD trading and over-the-counter commodity CFD trading are identified as subject to customer credit risk, and the stop-out system continues to be maintained. - FY2025WorsenedAnnual report
「The Group has adopted a stop-out system to prevent customers from incurring unforeseen losses when conducting foreign exchange margin trading, over-the-counter securities CFD trading or over-the-counter commodity CFD trading.」
Over-the-counter commodity CFD trading was explicitly identified as subject to customer credit risk, in addition to conventional foreign exchange margin trading and over-the-counter securities CFD trading. - FY2024RestatedAnnual report
「However, sudden movements in financial markets or foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers. In such cases, the Group will demand payment of the shortfall from the customer, but if the customer does not pay, the Group may be unable to recover all or part of the shortfall, which could have a material impact on the Group's financial position, operating results and other matters.」
Continues to describe the risks of losses exceeding margin and failure to recover customer shortfalls in foreign exchange margin trading and over-the-counter securities CFD trading. - FY2023RestatedAnnual report
「The Group has adopted a stop-out system to prevent customers from incurring unforeseen losses when conducting foreign exchange margin trading or over-the-counter securities CFD trading. However, sudden movements in financial markets or foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers.」
Continues to describe the stop-out system covering foreign exchange margin trading and over-the-counter securities CFD trading, as well as the risks of losses exceeding margin and failure to recover customer shortfalls. - FY2022WorsenedAnnual report
「The Group has adopted a stop-out system to prevent customers from incurring unforeseen losses when conducting foreign exchange margin trading or over-the-counter securities CFD trading.」
In addition to conventional foreign exchange margin trading, over-the-counter securities CFD trading was explicitly identified as subject to customer credit risk. - FY2021RestatedAnnual report
「Sudden movements in foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers. In such cases, the Group will demand payment of the shortfall from the customer, but if the customer does not pay, the Group may be unable to recover all or part of the shortfall.」
While the Company has adopted a stop-out system, it reaffirms the possibility of losses exceeding margin and failure to recover customer shortfalls. - FY2020RestatedAnnual report
「However, sudden movements in foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers.」
While the Company has adopted a stop-out system, it reaffirms the possibility of losses exceeding margin and failure to recover customer shortfalls. - FY2018RestatedAnnual report
「Sudden movements in foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers.」
The risk of customer losses exceeding margin and failure to recover shortfalls is reaffirmed. - FY2016First statedAnnual report
「However, sudden movements in foreign exchange rates and other factors could result in losses exceeding the margin deposited by customers.」
Although the Company has adopted a stop-out system, the residual risks of losses exceeding margin and failure to recover customer shortfalls remain.