Governance structure
Company with an Audit and Supervisory CommitteeWhen one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
The assessment results in the Internal Control Reports for the 11th and 12th fiscal years were corrected, changing the assessment of internal control from effective to ineffective. The reports state that the deficiencies in the Board of Directors' oversight function, independent monitoring, internal reporting system, and access-rights management for the banking transaction system constitute material weaknesses requiring disclosure.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Audit and Supervisory Committee (proportion of outside members: Not disclosed) |
| Controlling shareholder | The existence of a parent company is stated, but its name and voting rights ratio are not disclosed |
| Changes this time | The assessment results in the Internal Control Reports for the 11th and 12th fiscal years were corrected, changing the assessment of internal control from effective to ineffective. The reports state that the deficiencies in the Board of Directors' oversight function, independent monitoring, internal reporting system, and access-rights management for the banking transaction system constitute material weaknesses requiring disclosure. |
Items this document does not state (4)
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.An investigation prompted by information provided on 5 January 2026 revealed the misappropriation of company funds and falsification of accounting information by the Executive Director and CFO. The Company explained that there were deficiencies in the Board of Directors' oversight function, independent monitoring by the Audit & Supervisory Committee and the internal audit function, the internal reporting system, and access-rights management for the banking transaction system, against a background of weaknesses in the governance structure.