What was corrected and how
A subsequent correction by the company to the contents of an already published filing.
Fiscal Year Ended March 2024 Financial Results Summary [Japanese GAAP] (Consolidated)
Numerous sections, including the consolidated financial statements. The corrected items are presented in full only in the revised version.
Provision for product compensation losses 716,518 thousand yen / Expense for provision for product compensation losses (extraordinary loss) 716,353 thousand yen / Inventory valuation loss 151,220 thousand yen
A provision for product compensation losses of 716,518 thousand yen was recorded on the consolidated balance sheet, and an expense of 716,353 thousand yen for the provision for product compensation losses was recorded as an extraordinary loss on the consolidated income statement.
It was discovered that the loss related to product defects that should have been borne by Power Supply Technology Co., Ltd. had not been accounted for. The results of the Special Investigation Committee's investigation will therefore be reflected in the consolidated financial statements. In addition, inventory valuation losses of 151,220 thousand yen from prior fiscal years, which had not been corrected because they were deemed immaterial at the time, have also been reflected.
| Item | Details |
|---|---|
| Disclosure subject to correction | Fiscal Year Ended March 2024 Financial Results Summary [Japanese GAAP] (Consolidated) |
| Original disclosure date | 15 May 2024 |
| Location of correction | Numerous sections, including the consolidated financial statements. The corrected items are presented in full only in the revised version. |
| Details of correction | Not disclosed → Provision for product compensation losses 716,518 thousand yen / Expense for provision for product compensation losses (extraordinary loss) 716,353 thousand yen / Inventory valuation loss 151,220 thousand yen |
| Reason for correction | It was discovered that the loss related to product defects that should have been borne by Power Supply Technology Co., Ltd. had not been accounted for. The results of the Special Investigation Committee's investigation will therefore be reflected in the consolidated financial statements. In addition, inventory valuation losses of 151,220 thousand yen from prior fiscal years, which had not been corrected because they were deemed immaterial at the time, have also been reflected. |
| Impact on Business Performance | A provision for product compensation losses of 716,518 thousand yen was recorded on the consolidated balance sheet, and an expense of 716,353 thousand yen for the provision for product compensation losses was recorded as an extraordinary loss on the consolidated income statement. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.It was discovered that the loss associated with product defects had not been accounted for, despite the consolidated subsidiary Power Supply Technology Co., Ltd. being responsible for bearing part of the costs of responding to the defects. The results of the Special Investigation Committee's investigation were reflected, along with inventory valuation losses from prior fiscal years that had not been corrected because they were deemed immaterial at the time.