Risk of Revocation of Financial Instruments Business Registration
First written in FY2016. 4 of 6 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2020: 1 of 7 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「If, in the future, the company receives an order cancelling or otherwise revoking its registration as a financial instruments business operator, an order suspending its business, or a sanction from a financial instruments exchange or self-regulatory organization for any reason, including a violation of laws or regulations by the company or its officers and employees, it may become difficult to conduct business, which could affect the Group’s operating performance and financial condition.」
The company reaffirms the business continuity risk encompassing not only cancellation of registration but also business suspension and sanctions from exchanges and self-regulatory organizations. - FY2020WorsenedAnnual report
「If, in the future, the company receives an order cancelling or otherwise revoking its registration as a financial instruments business operator, an order suspending its business, or a sanction from a financial instruments exchange or self-regulatory organization for any reason, including a violation of laws or regulations by the company or its officers and employees, it may become difficult to conduct business, which could affect the Group’s operating performance and financial condition.」
In addition to cancellation of registration, the company explicitly identifies business suspension orders and sanctions from exchanges and self-regulatory organizations, broadening the scope of the risk of regulatory action. - FY2019RestatedAnnual report
「However, if the registration is cancelled or otherwise revoked in the future for any reason, this could disrupt the Group’s principal business activities and have a material impact on operating performance and financial condition.」
The company reiterates that cancellation or other revocation of its registration as a financial instruments business operator is a material risk to the continuation of its principal business. - FY2018RestatedAnnual report
「However, if the registration is cancelled or otherwise revoked in the future for any reason, this could disrupt the company’s principal business activities and have a material impact on operating performance and financial condition.」
The company reiterates that cancellation or other revocation of its registration as a financial instruments business operator is a material risk to the continuation of its principal business. - FY2017RestatedAnnual report
「However, if the registration is cancelled or otherwise revoked in the future for any reason, this could disrupt the company’s principal business activities and have a material impact on its operating performance.」
The company reiterates that cancellation or other revocation of its registration as a financial instruments business operator is a material risk to the continuation of its principal business. - FY2016First statedAnnual report
「If the registration is cancelled or otherwise revoked in the future for any reason, this could disrupt the company’s principal business activities and have a material impact on its operating performance.」
Registration as a financial instruments business operator is a prerequisite for continuing the principal business, and the occurrence of grounds for cancellation is treated as a material business continuity risk.