Governance structure
The 3 directors alleged to have been involved in this matter are scheduled to resign at the conclusion of the continuation session of the Ordinary General Meeting of Shareholders scheduled for 15 July 2026. At an Extraordinary General Meeting of Shareholders scheduled for September 2026, the company plans to appoint a director dedicated to the administrative division and others and establish a new management structure. The company will establish an Improvement Measures Promotion Committee.
| Item | Details |
|---|---|
| Committee | Improvement Measures Promotion Committee (comprising outside directors, a full-time Audit & Supervisory Board Member, certified public accountants and others; percentage of outside members: Not disclosed) / Nomination and Compensation Committee (percentage of outside members: Not disclosed) |
| Changes this time | The 3 directors alleged to have been involved in this matter are scheduled to resign at the conclusion of the continuation session of the Ordinary General Meeting of Shareholders scheduled for 15 July 2026. At an Extraordinary General Meeting of Shareholders scheduled for September 2026, the company plans to appoint a director dedicated to the administrative division and others and establish a new management structure. The company will establish an Improvement Measures Promotion Committee. |
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.The company identified accounting fraud involving the improper manipulation of the timing of revenue recognition for multiple semiconductor cleaning equipment products from the fiscal year ended December 2022 through the fiscal year ended December 2024. The stated causes include management's pressure to achieve sales targets and meet performance expectations after the listing, inadequate revenue recognition standards and training, issues concerning management's accounting literacy and integrity, the absence of a director dedicated to the administrative division, and weak approval and checking functions.