Governance structure
The company stated that deficiencies in information communication and in the closing and financial reporting processes remained unremediated as of the fiscal year-end, and that internal control over financial reporting was therefore ineffective.
| Item | Details |
|---|---|
| Committee | Special Investigation Committee (proportion of external members: Not disclosed) |
| Changes this time | The company stated that deficiencies in information communication and in the closing and financial reporting processes remained unremediated as of the fiscal year-end, and that internal control over financial reporting was therefore ineffective. |
Items this document does not state (6)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In relation to the accounting treatment of costs incurred in addressing product defects at a consolidated subsidiary, information and authority were concentrated, insufficient information was provided to the board of directors and the audit firm, and the Accounting and Finance Division lacked an adequate system for collecting and reviewing information. The company also cited its inability to complete all necessary remedial measures by the fiscal year-end.