Governance structure
Company with an Audit and Supervisory CommitteeThe company amended its Internal Control Reports for the 22nd, 23rd, 24th, 25th and 26th fiscal years, and stated in its Internal Control Report for the 27th fiscal year that there were material deficiencies requiring disclosure and that its internal controls were not effective.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Audit and Supervisory Committee (percentage of outside members: not disclosed) |
| Changes this time | The company amended its Internal Control Reports for the 22nd, 23rd, 24th, 25th and 26th fiscal years, and stated in its Internal Control Report for the 27th fiscal year that there were material deficiencies requiring disclosure and that its internal controls were not effective. |
Items this document does not state (5)
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 investigations and verifications conducted by the third-party committee, verification committee and investigation committee, together with the company’s self-inspection, found that internal controls had not functioned adequately to identify related-party transactions, non-routine and material transactions, transactions involving overseas subsidiaries, and significant accounting judgments in a timely and appropriate manner, or to assess their impact on financial reporting and implement corrective and remedial measures. The company also cited the fact that investigations and verifications continued after the end of the fiscal year, preventing it from fully understanding the extent of the deficiencies and their impact on financial reporting, and the need for a fundamental review of company-wide internal controls.