Decision and Details
Tokyo Stock Exchange, Inc.Entry into a grace period for reexamination due to violation of written oath and collection of listing agreement penalty
The company was found to have violated the written oath submitted when applying for a new listing and failed to meet the new listing standards due to inappropriate accounting, explanations to the audit firm that differed from the actual circumstances, and conducting a public offering and secondary offering based on false financial results after obtaining listing approval while still in violation of the written oath, thereby damaging the trust of shareholders and investors.
| Item | Details |
|---|---|
| Matter Covered | Entry into a grace period for reexamination due to violation of written oath and collection of listing agreement penalty |
| Decision-Making Body | Tokyo Stock Exchange, Inc. |
| Decision Date | 18 June 2026 |
| Implementation Date | 18 June 2026 (entry into grace period, completed) |
| Period Covered | From 18 June 2026 to 18 June 2027 |
| Amount | Listing agreement penalty: ¥28.8 million |
| Reason | The company was found to have violated the written oath submitted when applying for a new listing and failed to meet the new listing standards due to inappropriate accounting, explanations to the audit firm that differed from the actual circumstances, and conducting a public offering and secondary offering based on false financial results after obtaining listing approval while still in violation of the written oath, thereby damaging the trust of shareholders and investors. |
| Governing Rule | Standards equivalent to the new listing standards for the Standard Market |
| Related previous disclosures | Investigation report by the special investigation committee concerning inappropriate accounting, disclosed on 1 May 2026, and correction of prior-year financial results, disclosed on 29 May 2026 |
| Future plans | During the grace period, the company will consider applying for a compliance review under standards equivalent to the new listing standards for the Standard Market or applying to change its market segment to the Prime Market or Growth Market. If the company fails to meet the standards or does not receive approval to change its market segment, its listing will be delisted. The company will proceed with formulating measures to prevent recurrence, strengthening internal controls, implementing improvements, and preparing its application. |
Items this document does not state (2)
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 was found to have violated the written oath submitted when applying for a new listing and failed to meet the new listing standards due to inappropriate accounting, explanations to the audit firm that differed from the actual circumstances, and false financial figures in its application documents, thereby damaging the trust of shareholders and investors in the Tokyo Stock Exchange market.