FY2023First statedAnnual report
「Following an internal whistleblower report received on 3 March 2023, the Company became aware of suspected personal use of real estate through AFL Telecommunications LLC, a subsidiary of America Fujikura Ltd., the Company’s U.S. consolidated subsidiary, by a former director of the Company who had also served as CEO of America Fujikura Ltd. The Company engaged independent external law firms with no interests in the Group in Japan and the United States to conduct an internal investigation from 14 March 2023 and received the investigation results on 30 June of the same year.」
An internal investigation confirmed the former director’s personal use of assets, including land, housing and aircraft. This was the first disclosure of an actual internal control matter involving stated amounts, including ¥538 million for land, ¥345 million for housing construction costs and ¥407 million in overstated related selling, general and administrative expenses.