Disciplinary action against relevant parties
The Representative Director and President, Directors, full-time Audit & Supervisory Board Members, Outside Directors, Outside Audit & Supervisory Board Members and executive officers of AIR WATER INC., as well as representatives of Group companies involved in this matter
Improper accounting practices were carried out within the Group, and senior management and members of the management team were found to have been involved in some of them.
Company response
Investigation by the Special Investigation Committee. Deliberations and recommendations by external experts were also conducted (the chair's name and establishment date are Not disclosed).
The Representative Director and President will voluntarily forgo 100% of monthly remuneration for 3 months. Directors, full-time Audit & Supervisory Board Members, Outside Directors and Outside Audit & Supervisory Board Members will voluntarily forgo 50% of monthly remuneration for 3 months. Executive officers and representatives of Group companies involved in this matter will also be subject to strict disciplinary action.
Executive officers of the Company and representatives of Group companies involved in this matter will also be subject to strict disciplinary action.
| Item | Details |
|---|---|
| Event name | Disciplinary action against relevant parties |
| Date of occurrence | 3 April 2026 (disciplinary measures were approved at the Board of Directors meeting held today) |
| Subject Entity | The Representative Director and President, Directors, full-time Audit & Supervisory Board Members, Outside Directors, Outside Audit & Supervisory Board Members and executive officers of AIR WATER INC., as well as representatives of Group companies involved in this matter |
| Cause | Improper accounting practices were carried out within the Group, and senior management and members of the management team were found to have been involved in some of them. |
| Date of filing / date of action | 3 April 2026 (disciplinary measures approved by the Board of Directors) |
| Investigation structure | Investigation by the Special Investigation Committee. Deliberations and recommendations by external experts were also conducted (the chair's name and establishment date are Not disclosed). |
| Directors' and officers' liability | The Representative Director and President will voluntarily forgo 100% of monthly remuneration for 3 months. Directors, full-time Audit & Supervisory Board Members, Outside Directors and Outside Audit & Supervisory Board Members will voluntarily forgo 50% of monthly remuneration for 3 months. Executive officers and representatives of Group companies involved in this matter will also be subject to strict disciplinary action. |
| Outlook | Executive officers of the Company and representatives of Group companies involved in this matter will also be subject to strict disciplinary action. |
Items this document does not state (17)
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 Special Investigation Committee's investigation found that improper accounting practices had been carried out within the Group and that senior management and members of the management team were involved in some of them. The Company stated that the measures are intended to clarify responsibility based on the facts identified in the investigation report, the extent of each party's involvement and the allocation of responsibility.