Restatement of financial results and internal control deficiencies due to errors in inventory counts
First written in FY2024. 1 of 2 entries say "Materialised", first in FY2024. Latest entry: FY2025.
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- FY2025RestatedAnnual report
「Due to errors in aggregating inventory quantities, we corrected the financial results for the third quarter of the fiscal year ended February 2023 and the financial results for the fiscal year ended February 2023. We have held repeated discussions with 監査法人和宏事務所 regarding the deficiencies in the company’s internal controls that caused the corrections and the related corrective measures.」
The company continues to describe the financial statement corrections caused by errors in aggregating inventory quantities, together with the deficiencies in internal controls and corrective measures, as the background to the change of audit firm. - FY2024MaterialisedAnnual report
「Due to errors in aggregating inventory quantities, we corrected the financial results for the third quarter of the fiscal year ended February 2023 and the financial results for the fiscal year ended February 2023. Deficiencies in the company’s internal controls that caused the corrections and the related corrective measures」
The company has newly identified as a separate risk and issue the actual occurrence of financial statement corrections due to errors in aggregating inventory quantities, together with the resulting deficiencies in internal controls and corrective measures.