Risk of violating the Fair Competition Code for the Medical Equipment Industry
First written in FY2018. 2 of 4 entries say "Restated". Latest entry: FY2021.
1 other company's latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「To conduct sales activities in compliance with the Code, the Group has appointed Code instructors certified by the relevant council and is working to educate and raise awareness among employees. The Group also provides information on the Code as appropriate, shares information on inquiries received, and takes steps to make improvements where necessary.」
The appointment of certified Code instructors, provision of information, sharing of inquiry details and corrective actions were specifically disclosed as measures to address the risk of violations. - FY2020RestatedAnnual report
「If conduct violating the Code occurs, the Group may be subject to penalties from the relevant council and may also be affected in terms of its operating results and financial position due to reputational damage and other consequences.」
The risks of penalties and reputational damage arising from violations of the Fair Competition Code for the Medical Device Industry continued to be disclosed. - FY2019RestatedAnnual report
「The Group works to educate employees so that sales activities comply with the Code. However, if an act violating the Code occurs, the Group may be subject to penalties by the relevant council, and its business results and financial condition could be affected by a decline in credibility or other consequences.」
The risks of penalties and reputational damage arising from violations of the Fair Competition Code for the Medical Device Industry, and the response through employee training, were reconfirmed. - FY2018First statedAnnual report
「The Group works to educate employees so that sales activities comply with the Code. However, if an act violating the Code occurs, the Group may be subject to penalties by the relevant council, and its business results and financial condition could be affected by a decline in credibility or other consequences.」
The disclosure identifies the risk of penalties and reputational damage for violating industry self-regulations restricting the provision of gifts and other benefits to medical institutions.