Risk of sourcing losses and reputational damage from purchasing stolen goods
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
「To comply with the Secondhand Goods Business Act and the Civil Code, we have linked the secondhand-goods register, which provides detailed records of product purchases, to our business systems. If the purchase of stolen goods is discovered, this enables us to cooperate promptly and appropriately with police investigations and to establish a system for returning the stolen goods to their victims free of charge.」
The response system for stolen goods, involving restrictions on purchases, cooperation with the police, and the linkage of the secondhand-goods register with business systems, continues. - FY2021RestatedAnnual report
「To comply with the Secondhand Goods Business Act and the Civil Code, we have linked the secondhand-goods register, which provides detailed records of product purchases, to our business systems. If the purchase of stolen goods is discovered, this enables us to cooperate promptly and appropriately with police investigations and to establish a system for returning the stolen goods to their victims free of charge.」
The response system involving restrictions on the purchase of stolen goods, cooperation with the police, and the linkage of the secondhand-goods register with business systems continues. - FY2020RestatedAnnual report
「To comply with the Secondhand Goods Business Act and the Civil Code, we have linked the secondhand-goods register, which provides detailed records of product purchases, to our business systems. If the purchase of stolen goods is discovered, this enables us to cooperate promptly and appropriately with police investigations and to establish a system for returning the stolen goods to their victims free of charge.」
The response system involving restrictions on the purchase of stolen goods, cooperation with the police, and the linkage of the secondhand-goods register with business systems continues. - FY2019RestatedAnnual report
「We conduct our business to prevent the circulation of stolen goods by refraining from purchasing any product that is even slightly suspected of being stolen and maintaining close cooperation with the police authorities.」
The risk of sourcing losses and reputational damage from purchasing stolen goods, and ongoing measures including limiting purchases, cooperating with the police, and using the secondhand-goods register and business systems, continue to be described. - FY2018First statedAnnual report
「However, given the nature of the business, it is difficult to completely prevent the purchase of stolen goods, and sourcing losses from such purchases or a decline in trust in the company resulting from such incidents may affect the performance of the group.」
The risk of sourcing losses and reputational damage arising from the inability to completely prevent the purchase of stolen goods has been explicitly identified for the first time.