Expected delay in filing the Securities Report for the fiscal year ended December 2025 and expected designation of V-cube,Inc.'s shares as Securities Under Supervision (Checking)
V-cube,Inc. (the filing company)
Assets of the domestic subsidiaries and the U.S. subsidiary TEN Holdings, Inc. related to the event DX business, and the company's shares (ticker code 3681)
The accounting auditor pointed out, among other matters, the possibility that impairment losses could arise on the assets of the domestic subsidiaries and the U.S. subsidiary TEN Holdings, Inc. related to the event DX business, resulting in continued discussions and consideration regarding whether impairment losses needed to be recognized.
Related procedures
Listing administration procedures relating to designation as Securities Under Supervision (Checking), designation as Securities to be Delisted, and delisting
Tokyo Stock Exchange, Inc.
Fiscal year ending December 2025
Company response
Close coordination with the accounting auditor. Establishment of a third-party committee or special investigation committee, the committee chair's name and the establishment date: Not disclosed
The company will endeavor to file the Securities Report for the fiscal year ended December 2025 by 30 April 2026 and avoid designation as Securities to be Delisted and delisting. It will also endeavor to file and disclose the report at the earliest possible time currently foreseeable.
| Item | Details |
|---|---|
| Event name | Expected delay in filing the Securities Report for the fiscal year ended December 2025 and expected designation of V-cube,Inc.'s shares as Securities Under Supervision (Checking) |
| Date of occurrence | 31 March 2026 (the date on which the company recognized and disclosed that filing would be difficult as of that date) |
| Date recognized / date notice received | 31 March 2026 (the date on which the company recognized that filing would be difficult as of that date) |
| Subject Entity | V-cube,Inc. (the filing company) |
| Target Locations / Products | Assets of the domestic subsidiaries and the U.S. subsidiary TEN Holdings, Inc. related to the event DX business, and the company's shares (ticker code 3681) |
| Cause | The accounting auditor pointed out, among other matters, the possibility that impairment losses could arise on the assets of the domestic subsidiaries and the U.S. subsidiary TEN Holdings, Inc. related to the event DX business, resulting in continued discussions and consideration regarding whether impairment losses needed to be recognized. |
| Accounting period in which recognized | Fiscal year ending December 2025 |
| Type of litigation or proceeding | Listing administration procedures relating to designation as Securities Under Supervision (Checking), designation as Securities to be Delisted, and delisting |
| Court or authority | Tokyo Stock Exchange, Inc. |
| Investigation structure | Close coordination with the accounting auditor. Establishment of a third-party committee or special investigation committee, the committee chair's name and the establishment date: Not disclosed |
| Outlook | The company will endeavor to file the Securities Report for the fiscal year ended December 2025 by 30 April 2026 and avoid designation as Securities to be Delisted and delisting. It will also endeavor to file and disclose the report at the earliest possible time currently foreseeable. |
Items this document does not state (14)
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.The accounting auditor pointed out, among other matters, the possibility that impairment losses could arise on the assets of the domestic subsidiaries and the U.S. subsidiary TEN Holdings, Inc. related to the event DX business. Whether impairment losses need to be recognized became a key issue affecting whether the company would have negative net worth and meet the delisting criteria. Following continued discussions and consideration during the year-end closing process, it became difficult to file the report by the deadline.