Fukoku (5185) · RiskCited as achieved
Improper Accounting and Embezzlement of Funds by a Former Employee of 上海フコク
First written in FY2025. 1 of 2 entries say "Materialised", first in FY2025. Latest entry: FY2026.
2entries
2years
0from disclosures
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Embezzlement of Funds and Other Misconduct by Employees of a Consolidated SubsidiaryA theme 13 companies write about · 13 as a headwind · 0 as a tailwind
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- FY2026Cited as achievedAnnual report
「As there was a reversal effect from the one-time cost of sales related to the misconduct discovered at a consolidated subsidiary in November 2024, for which ¥423 million was recorded in FY2024,」
Regarding the misconduct by a former employee of 上海フコク discovered in the previous fiscal year, the company cites the past event as a factor behind the decline in operating profit in the current fiscal year and as a reversal of expenses recorded in the previous fiscal year. - FY2025MaterialisedAnnual report
「It was discovered that a former employee of 上海フコク有限公司, a consolidated subsidiary of the company, may have misappropriated funds through improper accounting.」
Regarding unauthorized withdrawals by a former employee of 上海フコク from January 2011 through October 2024, the company recorded ¥423 million in provision for allowance for doubtful accounts and ¥213 million in special investigation expenses.