Declining the grant award under the FY2023 Supplementary Budget Program for Large-Scale Growth Investments in Labor-Saving Measures and Other Initiatives to Raise Wages at Mid-Sized and Small and Medium-Sized Enterprises (First Call for Applications)
J.E.T.Co.,LTD.
Renovation and expansion of the existing plant (construction of a new demonstration room)
Based on the findings of the Special Investigation Committee, corrections were required to financial information and other data underlying the grant application due to misconduct by management, and the performance figures and other information submitted with the application contained errors.
Fiscal year ending December 2026
The impact on results for the fiscal year ending December 2026 is currently expected to be immaterial.
Related procedures
Receipt of notice approving the discontinuation (cancellation) of the subsidized project
Mid-Sized and Small Business Growth Investment Subsidy Secretariat (the corrected report was submitted to the Director-General of the Chugoku Local Finance Bureau)
Company response
The Company discontinued the use of and receipt of the grant. Construction to renovate and expand the existing plant, including the construction of a new demonstration room, will continue without being cancelled.
Investigation by the Special Investigation Committee. The committee chair's name and establishment date are Not disclosed.
After discontinuing the use of the grant, the Company will continue the renovation and expansion of the existing plant, including construction of a new demonstration room, using its own funds. The Company will promptly disclose any matters that require disclosure in the future.
| Item | Details |
|---|---|
| Event name | Declining the grant award under the FY2023 Supplementary Budget Program for Large-Scale Growth Investments in Labor-Saving Measures and Other Initiatives to Raise Wages at Mid-Sized and Small and Medium-Sized Enterprises (First Call for Applications) |
| Subject Entity | J.E.T.Co.,LTD. |
| Target Locations / Products | Renovation and expansion of the existing plant (construction of a new demonstration room) |
| Cause | Based on the findings of the Special Investigation Committee, corrections were required to financial information and other data underlying the grant application due to misconduct by management, and the performance figures and other information submitted with the application contained errors. |
| Accounting period in which recognized | Fiscal year ending December 2026 |
| Impact on Earnings Forecast | The impact on results for the fiscal year ending December 2026 is currently expected to be immaterial. |
| Type of litigation or proceeding | Receipt of notice approving the discontinuation (cancellation) of the subsidized project |
| Court or authority | Mid-Sized and Small Business Growth Investment Subsidy Secretariat (the corrected report was submitted to the Director-General of the Chugoku Local Finance Bureau) |
| Date of filing / date of action | The grant award notification date, following the change to the plan, was 25 December 2025. The receipt date of the notice approving discontinuation (cancellation) is Not disclosed |
| Suspended operations | The Company discontinued the use of and receipt of the grant. Construction to renovate and expand the existing plant, including the construction of a new demonstration room, will continue without being cancelled. |
| Investigation structure | Investigation by the Special Investigation Committee. The committee chair's name and establishment date are Not disclosed. |
| Outlook | After discontinuing the use of the grant, the Company will continue the renovation and expansion of the existing plant, including construction of a new demonstration room, using its own funds. The Company will promptly disclose any matters that require disclosure in the future. |
| Planned follow-up disclosure | The Company will promptly disclose any matters that require disclosure in the future. |
Items this document does not state (12)
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.Following an investigation by the Special Investigation Committee, corrections were made to financial information and performance figures for prior fiscal years due to misconduct by management. Because the financial information and other data underlying the grant application contained errors, the Company declined to receive the grant.