Customer Protection and Legal Collection Measures for Receivables from Specified Merchants Involving Ineligible Transactions
First written in FY2024-Q1. . Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025Disclosed the decline in GMV resulting from corrective action on the sales methods of certain merchantsAnnual report
「GMV declined at certain merchants with problematic sales methods after those methods were corrected.」
The company explained that GMV declined after it corrected problematic sales methods at certain merchants. The impact of customer protection and recovery measures for receivables from those merchants was also described in the form of corrective action on their sales methods. - FY2024-Q2Explained that the impact was limited to certain merchantsAnnual report
「Cumulative gross profit declined in the first quarter because the company recorded an allowance for doubtful accounts for receivables from certain merchants due to the risk that they would become uncollectible or be delayed. The measures are limited to those certain merchants and will have no ongoing impact.」
Regarding the allowance for doubtful accounts recorded in the first quarter for receivables from certain merchants, the company explained that the measures were limited to those merchants and would have no ongoing impact. - FY2024-Q1First statedAnnual report
「Against ¥142 million in receivables from the business partner as of 14 August 2023, the company estimated and added ¥20 million for transactions that may be determined not to meet the requirements for providing this service, and will record ¥163 million as an allowance for doubtful accounts expense. The Group provides deferred payment services that enable all commercial transactions to be conducted with confidence, safely and smoothly. Going forward, it will continue to scrutinize questionable receivables, with customer protection as its top priority. It is also pursuing legal recovery measures against the business partner with the involvement of attorneys and will make every effort to recover the receivables.」
For receivables from certain merchants, including ineligible transactions, the company disclosed for the first time specific measures including suspending billing to customers, demanding the repurchase of receivables, conducting reviews for customer protection, and pursuing legal recovery with the involvement of attorneys.