Toyo Construction Co., Ltd.
(Correction) [Toyo Construction] Notice regarding changes in payment terms ……
Toyo Construction Co., Ltd. (President and Representative Director: Toshi Obayashi) will change the terms of payment to business partners as follows.
*In the “Notice regarding changes to payment terms” announced on February 13, 2024 (11:35), there were errors in some of the
information (figures and tables). The corrections are reflected below. For new outsourcing contracts entered into after April 2022, our payment terms are “cash payment*¹”, but of the payments for materials, etc. entered into contracts after April 1, 2024, We will change to full cash payment for small and medium-sized businesses*². In addition, all payments by invoice that do not involve a contract other than those mentioned above will be changed to “cash payment” in full from the April end of the bill*³.
We will work to improve payment terms throughout the supply chain related to construction work, build stronger relationships of trust and cooperation with our business partners, realize mutual and sustainable improvements in corporate value, and strengthen the construction industry. We aim for further development.
[Image: https://prtimes.jp/i/127007/19/resize/d127007-19-62a19215cdbaaf0d6810-0.png&s3=127007-19-d61341933cd9fc65f9ab2f3ede69a933-1032×640.png ]
Cash payment*¹: Deadline at the end of the month, cash payment on the 25th of the following month
(Transfer to the designated financial institution. If the payment date falls on a Saturday, Sunday, or holiday, the next business day) Small and medium-sized enterprises *²: In light of the Subcontracting Small and Medium Enterprise Promotion Act, the scope of small and medium-sized enterprises is defined as “companies with capital or total investment of 300 million yen or less, or with 300 or fewer regular employees.” “Companies and individuals,” excluding our group companies.
*³: There are no changes to contracts before April 1, 2024 and payments for general bills until March 2024.
More details about this release:
https://prtimes.jp/main/html/rd/p/000000019.000127007.html