Risk of Purchasing or Selling Counterfeit Products
First written in FY2018. 4 of 5 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2023: 4 of 13 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The Group also commissions external parties to check authenticity when necessary.」
Measures against counterfeit products, including authenticity checks at the time of purchase and before sale, returns or disposal, and external checks, continue. - FY2021RestatedAnnual report
「All counterfeit products purchased inadvertently are returned or disposed of, in an effort to prevent their sale. The Group also commissions external parties to check authenticity when necessary.」
Measures against counterfeit products, including concierge training, authenticity checks before sale, returns or disposal, and external checks, continue. - FY2020RestatedAnnual report
「The Group works to prevent the purchase of counterfeit products by regularly developing each concierge’s ability to verify product authenticity. In addition, to enable customers, including partners and general consumers, to purchase products with confidence, the Group conducts another thorough authenticity check before sale. Any counterfeit products purchased inadvertently are all returned or disposed of, in an effort to prevent their sale.」
Measures against counterfeit products, including concierge training, authenticity checks at the time of purchase and before sale, and returns or disposal, continue. - FY2019RestatedAnnual report
「The Group works to prevent the purchase of counterfeit products by regularly developing each buyer’s ability to verify product authenticity. In addition, to enable customers, including dealers and general consumers, to purchase products with confidence, the Group conducts another thorough authenticity check before sale.」
The risk of purchasing and selling counterfeit products and measures including buyer training and authenticity checks at the time of purchase and before sale continue to be described. - FY2018First statedAnnual report
「However, because the Group sources products from general consumers through secondary markets rather than from authorized stores of each brand, it is inherently exposed to the risk of purchasing and selling counterfeit products at all times. The Group’s business results may be affected if such problems arise and confidence in the Group declines as a result.」
The risks of purchasing and selling counterfeit products when sourcing through secondary markets, and measures such as authenticity checks, have been described as an independent risk for the first time.