Governance structure
Company with an Audit and Supervisory CommitteeThe Company will disclose the material weakness in its internal controls and implement measures to prevent recurrence based on the findings of the independent committee's investigation.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Committee | Audit and Supervisory Committee (percentage of outside members: not disclosed) |
| Changes this time | The Company will disclose the material weakness in its internal controls and implement measures to prevent recurrence based on the findings of the independent committee's investigation. |
Items this document does not state (5)
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 misappropriation of company funds and falsification of accounting records by the managing director and CFO were discovered. The Company identified the direct causes as the individual's lack of compliance awareness, the institutionalization of a situation in which the person responsible personally handled cash management operations, and insufficient monitoring of privileged payment authorization. As a contributing factor, the Company recognizes weaknesses in its governance structure.