Overbilling in Defense Equipment Contracts and Related Losses
First written in FY2017-Q2. 1 of 3 entries say "Restated". Latest entry: FY2018-Q2.
0 other companies' latest entry also says "Dropped".
- FY2018-Q2DroppedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The specific description of the overbilling case involving the Ministry of Defense and related losses, which had been reiterated through the previous disclosure, cannot be found in the current text. - FY2017-Q3RestatedAnnual report
「Subsequently, on 26 August 2015, we paid ¥3,478 million, comprising the overbilled amount and related penalties and late-payment interest, and recognized the difference from the ¥2,857 million provision recorded in the previous consolidated fiscal year as a loss related to defense equipment, included in extraordinary losses.」
The overbilling to the Ministry of Defense and payment of ¥3,478 million are reiterated as past events. No loss related to defense equipment was recognized during the nine-month period of the current consolidated fiscal year. - FY2017-Q2First statedAnnual report
「On 25 March 2014, we confirmed through an internal investigation that there had been a case of overbilling under a contract with the Ministry of Defense in our Aerospace and Defense Division, and reported it to the Ministry. Subsequently, on 26 August 2015, we paid ¥3,478 million, comprising the overbilled amount and related penalties and late-payment interest, and recognized the difference from the ¥2,857 million provision recorded in the previous consolidated fiscal year as a loss related to defense equipment, included in extraordinary losses.」
The occurrence of overbilling to the Ministry of Defense, the internal investigation and report, the payment of ¥3,478 million, and the recognition of related losses are disclosed as past events.