First Logic Co., Ltd.
Review of real estate companies and operation report of penalty system (July-December 2022)
In the July-December period of 2022, the examination by specialized departments will be strengthened
First Logic Co., Ltd. (Headquarters: Chuo-ku, Tokyo, Tokyo Stock Exchange Standard, Securities Code: 6037), which operates Japan’s largest real estate investment site “Rakumachi”
(https://www.rakumachi.jp), We will announce the operation results for the July-December period of 2022 for the examination of real estate companies and the penalty system.
In the second half of 2022, the number of transactions suspended due to screening was 9, and the number of crackdowns due to the penalty system was 3, for a total of 12 cases. Compared to the first half of the year, there were 7 cases of suspension of transactions, and 4 cases of enforcement under the penalty system.
■ Strengthen screening system for new contracts so that customers can use the service with peace of mind
The reason for the increase in the number of transaction suspensions due to screening from the first half of the year is the strengthening of screening by specialized departments. We have been conducting preliminary screenings for anti-social forces and violation history under the Building Lots and Buildings Transaction Business Act. However, in order to achieve our mission of “restoring the soundness of the real estate industry,” we have decided to establish new screening criteria and strengthen our screening system.
■ Satisfaction of affiliated real estate companies is 3.8 out of 5 In addition to this internal review system, from November 2021, we have released an “evaluation report” function that allows users who use Rakumachi to evaluate real estate companies. This is a function that allows real estate companies to view opinions from customers regarding customer service and business negotiations. We also provide guidance directly from our customer support to companies with low customer satisfaction.
Evaluation input screen image
About 4,300 real estate companies have been evaluated so far. The cumulative number of evaluations exceeds 79,000. Satisfaction on a 5-point scale averaged 3.8 points, up 0.1 points from the first half of the year. Rakumachi will continue to make sincere efforts to create a fair real estate investment market where real estate investors and real estate companies can trade in a win-win relationship.
■ About “examination of real estate companies” and “penalty system” At Rakumachi, under the vision of “creating a fair real estate investment market”, we have established a “screening of real estate companies” and a “penalty system” to ensure fair real estate transactions. In addition to screening before the conclusion of a contract by a specialized department, regular checks will be carried out even after registration on our site, and if it is determined that there is a problem, we will take measures to suspend transactions. In addition, we have established rules for listing properties based on the “Fair Competition Code Concerning Real Estate Display” issued by the Federation of Real Estate Fair Trade Councils. If you violate the rules, we will take measures to stop using the site or withdraw under the “penalty system”.
Company name: First Logic Co., Ltd.
Listed Market: Tokyo Stock Exchange Standard (Securities Code: 6037) Head office: 5th floor, Sumitomo Realty & Development Hatchobori Building, 3-3-5 Hatchobori, Chuo-ku, Tokyo
Established: August 23, 2005
Business description: Operation of Rakumachi, the largest real estate investment site in Japan
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First Logic Co., Ltd.