Improper accounting at Asahi Tec and corrections to prior-period financial statements
First written in FY2021. 1 of 3 entries say "Materialised", first in FY2021. Latest entry: FY2022.
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- FY2022MitigatedAnnual report
「We will continue to promote management that prioritizes compliance and work to restore the trust of all stakeholders by implementing and monitoring measures to prevent recurrence, without allowing this matter to fade from memory.」
In response to 旭テック's improper accounting and corrections to prior-year financial results, the company indicated that it would continue implementing and monitoring measures to prevent recurrence and work to restore trust. - FY2022-Q3Decrease in Provision for Special Investigation ExpensesAnnual report
「Current liabilities were ¥8,633 million, a decrease of ¥1,479 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,191 million in electronically recorded obligations, offset by decreases of ¥901 million in notes and accounts payable, ¥368 million in income taxes payable, ¥1,358 million in advances received on construction contracts in progress, and ¥221 million in the provision for special investigation expenses.」
The provision for special investigation expenses recognized in connection with the improper accounting at 旭テック decreased by ¥221 million from the end of the previous consolidated fiscal year, leaving no balance on the balance sheet at the end of the quarter under review. - FY2021MaterialisedAnnual report
「As described in "1. Management Policies, Business Environment and Issues to Be Addressed (5) Business and Financial Issues to Be Addressed as a Priority," during the current consolidated fiscal year, an issue involving improper accounting treatment was discovered at a consolidated subsidiary of the Company. An internal investigation committee conducted an investigation, and the Company corrected prior-year financial results, among other actions. Depending on future measures taken by the Group in connection with these matters, they may affect the Group's business activities, performance and financial condition.」
At 旭テック, the reassignment of project numbers and deferral of revenue recognition dating from 2008 onward were confirmed, leading to an internal investigation, corrections to prior-year financial results and the recognition of a provision for special investigation expenses. The company newly disclosed as a risk that future measures may affect business activities, performance and financial condition.