Discovery of Improper Accounting Practices and Measures to Prevent Recurrence
First written in FY2019. 6 of 14 entries say "Restated". Latest entry: 2026-06-03.
Saxa moved to the "Worse" side of this theme in 2019.
The whole theme swung hardest in 2019: 1 of 9 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- 2026-06-03MitigatedGeneral Meeting of Shareholders
「当社の2025年度における内部統制システムの運用状況は次のとおりであり、適正に運用されている。」
コンプライアンス研修、役員ガバナンス研修、内部通報制度教育、会計教育、委員会による報告・審議などの運用実績を記載している。一方、子会社における取締役会開催頻度の法令違反も記載しており、完全な終息とは扱わない。 - FY2022MitigatedAnnual report
「For the fiscal year ended March 2022, we determined that implementation of all measures to prevent recurrence had been completed, material weaknesses requiring disclosure had been corrected, and our internal controls over financial reporting were effective.」
It is stated that implementation of recurrence-prevention measures for the inappropriate accounting and remediation of material deficiencies in internal controls have been completed. - FY2022-Q3RestatedAnnual report
「Although the development of internal controls and recurrence-prevention measures was generally nearing completion during the nine-month period of the current consolidated fiscal year, their implementation remained incomplete. We therefore consider the reliable implementation of recurrence-prevention measures and making internal controls effective to be the highest-priority business and financial issue for resolving the Company’s business and financial challenges.」
While the development of internal controls and recurrence-prevention measures was generally nearing completion, implementation remained incomplete, and making them effective continues to be the highest-priority issue. - FY2022-Q2Settlement with former directors and compensation for lossesAnnual report
「As a result, the Company resolved at meetings of its Audit & Supervisory Board and Board of Directors held on 15 October 2021 to approve a settlement proposal under which the 6 former directors would compensate the Company for a specified amount of the losses incurred by the Company in connection with the matter described above, and reached an agreement with the 6 former directors on 27 October 2021. Under the agreement, ¥100 million in settlement proceeds received will be recorded as extraordinary income in the third quarter of the fiscal year ending March 2022.」
A settlement with 6 former directors was reached on 27 October 2021, and ¥100 million in settlement proceeds received as compensation for losses was scheduled to be recorded as extraordinary income in the third quarter. - FY2022-Q2RestatedAnnual report
「However, as disclosed in the notice dated 29 June 2021 titled “Notice Regarding Material Deficiencies in Internal Controls over Financial Reporting Requiring Disclosure,” the Company announced that material deficiencies requiring disclosure existed in the fiscal year ended March 2021 and that its internal controls were not effective.」
The material deficiencies in internal controls over financial reporting related to the inappropriate accounting, and the disclosure that internal controls were not effective, are being reconfirmed. - FY2022-Q1RestatedAnnual report
「However, as disclosed in the notice dated 29 June 2021 titled “Notice Regarding Material Deficiencies in Internal Controls over Financial Reporting Requiring Disclosure,” the Company announced that material deficiencies requiring disclosure existed in the fiscal year ended March 2021 and that its internal controls were not effective.」
It is being reconfirmed that, in relation to the inappropriate accounting over several years, material deficiencies in internal controls over financial reporting existed in the fiscal year ended March 2021 and that the Company announced that its internal controls were not effective. - FY2021Full-year recognition of costs related to corrections of prior-period financial resultsAnnual report
「We recorded ¥1,941 million as extraordinary loss for costs related to correcting prior-period financial results, including costs related to inappropriate accounting in prior periods, investigation costs incurred by the Special Investigation Committee, external outsourcing costs and additional audit fees related to corrections of prior-period financial results.」
Costs of ¥1,941 million for investigations, corrections and additional audits related to inappropriate accounting were recorded as extraordinary loss for the full fiscal year. - FY2021-Q3RestatedAnnual report
「It was also found that inappropriate accounting had continued for several years, resulting in deficiencies in internal controls over financial reporting.」
The continued inappropriate accounting over several years and deficiencies in internal controls over financial reporting continue to be disclosed. - FY2021-Q2RestatedAnnual report
「It was also found that inappropriate accounting had continued for several years, resulting in deficiencies in internal controls over financial reporting.」
The continued inappropriate accounting over several years and the remaining deficiencies in internal controls over financial reporting are being reconfirmed. - FY2021-Q1WorsenedAnnual report
「According to the investigation report of the Special Investigation Committee, it was found that, in addition to the matter in question, the Company had engaged in a wide variety of inappropriate accounting practices, including inappropriate financial closing adjustments by the accounting department, pass-through transactions involving sales, the transfer of excess outsourced development costs to software intended for sale, impairment of long-outstanding inventory, suspected bribery in China, suspected premature recognition of sales, revenue recognition for maintenance service contracts, and inappropriate accounting at subsidiaries.」
Regarding the inappropriate accounting, the investigation identified a wide variety of incidents beyond the initial suspicions, and recognized the accumulation over many years of inappropriate conduct and widespread company-wide deficiencies in internal controls as the causes. - FY2020WorsenedAnnual report
「According to the investigation report of the Special Investigation Committee, it was found that, in addition to the matter in question, the Company had engaged in a wide variety of inappropriate accounting practices, including inappropriate financial closing adjustments by the accounting department, pass-through transactions involving sales, the transfer of excess outsourced development costs to software intended for sale, impairment of long-outstanding inventory, suspected bribery in China, suspected premature recognition of sales, revenue recognition for maintenance service contracts, and inappropriate accounting at subsidiaries.」
The investigation into inappropriate accounting identified multiple incidents and company-wide deficiencies in internal controls, and a correction report for prior-period financial results was also filed. - FY2020-Q3RestatedAnnual report
「In addition, to ensure the effectiveness of improvement measures aimed at preventing a recurrence of the inappropriate accounting discovered during the preceding consolidated fiscal year, we will ensure strict compliance and work to strengthen governance.」
The policy of preventing recurrence, ensuring compliance and strengthening governance in relation to the inappropriate accounting discovered during the preceding consolidated fiscal year is being reconfirmed. - FY2020-Q1MaterialisedAnnual report
「Selling, general and administrative expenses increased due to investigation costs and other expenses related to inappropriate accounting that occurred during the preceding consolidated fiscal year.」
The Company stated that investigation costs and other expenses related to inappropriate accounting discovered during the preceding consolidated fiscal year contributed to the increase in selling, general and administrative expenses in the first quarter of the current fiscal year. - FY2019MaterialisedAnnual report
「To ensure the effectiveness of improvement measures aimed at preventing a recurrence of the inappropriate accounting discovered during the current consolidated fiscal year」
The Company itself disclosed that inappropriate accounting had been discovered during the current consolidated fiscal year and stated that it would proceed with improvement measures to prevent recurrence.