Risk of Declining Credibility and Corporate Value Due to Misstatements in Financial Reporting
First written in FY2020. 1 of 3 entries say "Mitigated", first in FY2021. Latest entry: FY2022.
The whole theme swung hardest in 2020: 4 of 14 companies on the "Worse" side.
22 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company has accurately established and rigorously operated internal control procedures under the J-SOX Act. It also ensures the accuracy of reports by continuously conducting secondary reviews at every stage of report preparation, preparing and updating related manuals, and educating and developing the personnel in charge.」
The company continues to ensure the accuracy of financial reporting through J-SOX procedures, secondary reviews at every stage, manual updates and training for personnel in charge. - FY2021MitigatedAnnual report
「In response, the company has rigorously established and operated internal control procedures under the so-called J-SOX Act, established a secondary review system covering all stages of report preparation, and is periodically developing relevant manuals and training personnel.」
To address the risk of false financial reporting, the company has put in place J-SOX procedures, a secondary review system covering all stages of report preparation, manual development and personnel training. - FY2020First statedAnnual report
「If financial reports contain false information, the group’s credibility could be damaged and the company’s corporate value could decline.」
The company has explicitly identified as a new risk the possibility of reputational damage and a decline in corporate value caused by false financial reporting.