Implementation of measures to prevent recurrence based on the Third-Party Committee's report
First written in FY2018-Q2. 2 of 4 entries say "Advanced", first in FY2018. Latest entry: FY2021.
The whole theme swung hardest in 2022: 1 of 11 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「To ensure the reliability of financial reporting and the effective and appropriate disclosure of the Internal Control Report, the Company shall continuously develop, operate and evaluate internal controls over financial reporting and shall take corrective action if deficiencies are identified.」
The Company reconfirms the continuous development, operation, evaluation and remediation of financial reporting and internal controls established after the Third-Party Committee's report. - FY2019AdvancedAnnual report
「Accordingly, in light of the changes in the operating environment following the management integration, we have made certain revisions, established the following basic policy for developing an internal control system, and will continue working to improve and enhance it.」
The measures to prevent recurrence based on the Third-Party Committee's report have been incorporated into revisions to the basic policy for the internal control system to reflect changes in the operating environment following the management integration. - FY2018AdvancedAnnual report
「To ensure the reliability of financial reporting and the effective and appropriate disclosure of the Internal Control Report, the Company has established its Basic Policy on Internal Control over Financial Reporting. Based on this policy, it has established an Internal Control Committee chaired by the director responsible for administration (CFO) to continuously develop, operate and evaluate internal controls over financial reporting, and to take corrective action if deficiencies are identified.」
As a measure to prevent recurrence, the Company established an Internal Control Committee for internal controls over financial reporting and specified the continuous development, operation and evaluation of those controls, as well as corrective action for deficiencies. - FY2018-Q2First statedAnnual report
「Subsequently, the Company discussed and considered specific measures to prevent recurrence at the committee established to review the Third-Party Committee's report, comprising the Company's outside directors, audit & supervisory board members, attorneys and certified public accountants, and at the Company's Board of Directors. The issues that the Company must address, taking those measures into consideration, are as follows.」
In response to doubts concerning the collection of accounts receivable related to advance payments to UKC Hong Kong and other matters, specific measures to prevent recurrence, including those concerning corporate culture, the internal control system, the Board of Directors and the use of outside directors, are presented systematically for the first time as issues to be addressed.