Eltes (3967) · RiskFirst stated

Weaknesses in the Financial Reporting Function and Risk of Disclosure Delays Following the Addition of Consolidated Subsidiaries

First written in FY2023. . Latest entry: FY2023.

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Delays in Financial Closing and Disclosure Processes Following the Addition of a Consolidated SubsidiaryA theme 3 companies write about · 3 as a headwind · 0 as a tailwind

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FY2023First statedAnnual report
「The company required additional time to review the initial-period financial results of 株式会社メタウン, which became a consolidated subsidiary on 1 September 2022, resulting in a delay in the disclosure of financial results for the third quarter of the fiscal year ending February 2023. The issue has been resolved through the implementation of systems and the strengthening of personnel to ensure smooth financial reporting. If delays in financial reporting occur, they may affect the Group's business and results through a decline in its credibility.」
The delay in reviewing financial results associated with メタウン becoming a consolidated subsidiary actually resulted in a delay in the disclosure of third-quarter financial results. The disclosure states that the issue was resolved through system implementation and increased staffing, while newly identifying the risk that delayed disclosure could affect credibility and results.

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