Problems Concerning Sales Transactions by Subsidiaries and Corporate Governance
First written in FY2016-Q3. 3 of 4 entries say "Materialised", first in FY2021. Latest entry: FY2022-Q2.
Asulina moved to the "Worse" side of this theme in 2022.
0 other companies' latest entry also says "Materialised".
- FY2022-Q2MaterialisedAnnual report
「As a result, it became clear that the former representative director and president had engaged in inappropriate accounting treatments in connection with solar power plant projects in which he was actively involved, including recognising revenue despite the requirements for realisation of that revenue not being met, while neglecting to ensure the appropriateness of the accounting treatment and failing to properly report the background circumstances and flow of funds to the board of directors.」
Regarding the previously identified issues involving business transactions and governance, specific reasons for the designation as a security under special watch were given, including inappropriate revenue recognition, insufficient reporting to the board of directors, inadequate deliberation and auditing, and the absence of properly established segregation of duties. - FY2022-Q1MaterialisedAnnual report
「In response to inappropriate accounting treatments and disclosures relating to past revenue processing and other matters, the group underwent an investigation by a special investigation committee and a restatement audit by its external auditor, and submitted amended reports for prior-period securities reports and other filings dated 18 February 2022.」
The previously recognised issues involving subsidiary business transactions, accounting treatments and governance led, following an investigation by a special investigation committee and a restatement audit, to the submission of amended reports for prior-period securities reports and other filings. - FY2021MaterialisedAnnual report
「It was also discovered that accounting treatments whose timing of revenue recognition could not be considered appropriate existed in the fiscal years ended August 2018 and August 2019, as well as inappropriate accounting treatments relating to the scope of consolidation and revenue recognition, including revenue that did not meet the requirements for recognition as revenue.」
In connection with previously identified issues involving business transactions and governance, inappropriate accounting treatments relating to the timing of revenue recognition, the scope of consolidation and the requirements for revenue recognition were actually discovered. - FY2016-Q3First statedAnnual report
「The company takes seriously the findings concerning subsidiary business transactions and its corporate governance identified in the investigation report received from the independent committee on 26 October 2015.」
The disclosure states that the independent committee’s investigation report identified issues involving subsidiary business transactions and corporate governance.