Governance structure
Company with an Audit and Supervisory CommitteeFor the internal control reports for the 16th, 17th and 18th fiscal years, the assessment of internal controls over financial reporting was amended from “effective” to “not effective,” and material weaknesses requiring disclosure were reported.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Changes this time | For the internal control reports for the 16th, 17th and 18th fiscal years, the assessment of internal controls over financial reporting was amended from “effective” to “not effective,” and material weaknesses requiring disclosure were reported. |
Items this document does not state (6)
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.Regarding transactions with Right Here Co., Ltd., questions arose as to whether the company should have been included in the scope of consolidation for prior-year financial statements or whether related-party disclosures were required. An investigation by a special investigation committee consisting primarily of external experts identified management’s insufficient understanding of corporate governance, inaccurate information provided to the Board of Directors and Audit and Supervisory Committee members, and deficiencies in the control system for identifying related-party transactions.