Risk of subsidy repayment, penalties and damages at a U.S. subsidiary
First written in FY2026-H1. 2 of 3 entries say "Materialised", first in FY2026-H1. Latest entry: FY2026.
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- FY2026MaterialisedAnnual report
「Murotech Ohio Corporation underwent a reinvestigation by the U.S. government into subsidies it had received and was found not to meet the application requirements. The penalties payable to the U.S. government have been recorded as a non-operating expense.」
The Company recorded ¥457 million in non-operating expenses for the full year, including a ¥163 million loss on the repayment of subsidies and a ¥294 million loss on damages at a U.S. subsidiary, bringing the subsidy and damages risks into the income statement. - 2026-05-14Cited as achievedRevisions to earnings forecasts
「Ordinary profit came to ¥1,205 million, up 13.5% year on year, despite recording ¥457 million in costs, including the repayment of subsidies received by a US subsidiary during the COVID-19 pandemic. This was supported by, among other items, ¥252 million in foreign exchange gains. Net income attributable to owners of the parent was ¥714 million, up 46.9% year on year.」
Costs related to the repayment of subsidies and damages at the US subsidiary were recorded in full-year earnings at ¥457 million. - FY2026-H1MaterialisedAnnual report
「Murotech Ohio Corporation underwent a reinvestigation by the U.S. government into subsidies it had received and was found not to meet the application requirements. The estimated amount of penalties payable to the U.S. government has been recorded as a non-operating expense.」
Following a reinvestigation of subsidies by the U.S. government, the Company was found not to meet the application requirements and recorded ¥163 million for estimated penalties. It also recorded ¥289 million in provision expense for damages, bringing the total related costs to ¥452 million.