Engineering Business: Suspected Inflation of Cost of Sales and Kickbacks
First written in FY2024. 2 of 3 entries say "Restated". Latest entry: FY2025-H1.
1 other company's latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「As a result of this restatement, long-term accounts receivable related to the improper transactions for the previous consolidated fiscal year amounted to ¥254.048 million, as did the allowance for doubtful accounts recognised under non-current assets. The related profit or loss for the interim consolidated accounting period of the previous consolidated fiscal year was a ¥11.089 million provision for doubtful accounts expense recognised as an extraordinary loss. For the current interim consolidated accounting period, long-term accounts receivable related to the improper transactions and the allowance for doubtful accounts recognised under non-current assets were each ¥253.778 million, while the related profit or loss was a ¥270 thousand reversal of the allowance for doubtful accounts recognised as an extraordinary gain.」
The company continues to disclose the inflated cost-of-sales transactions involving a former director in the engineering business and the restatement of prior-year financial results. Long-term accounts receivable of ¥253.778 million related to the improper transactions remains outstanding, together with an allowance for doubtful accounts of the same amount. - FY2025-Q1RestatedAnnual report
「As a result of this restatement, long-term accounts receivable related to the improper transactions for the previous consolidated fiscal year amounted to ¥254.048 million, as did the allowance for doubtful accounts recognised under non-current assets. The related profit or loss for the first quarter of the previous consolidated fiscal year was a ¥11.089 million provision for doubtful accounts expense recognised as an extraordinary loss. For the first quarter of the current consolidated fiscal year, long-term accounts receivable related to the improper transactions and the allowance for doubtful accounts recognised under non-current assets were each ¥254.048 million.」
The company continues to disclose the inflated cost-of-sales transactions involving a former director in the engineering business and the restatement of prior-year financial results. Long-term accounts receivable of ¥254.048 million related to the improper transactions remains outstanding, together with an allowance for doubtful accounts of the same amount. - FY2024MaterialisedAnnual report
「The investigation found that improper transactions, specifically inflation of cost of sales, had occurred in the engineering business with the involvement of a former director of the company. As a result, the company restated cost of sales and other items related to the engineering business for the prior years described above.」
Following information received from an external source, the company established an investigation committee on 27 February 2024. The investigation identified transactions involving inflated cost of sales with the involvement of a former director, and the company restated prior-year financial results. The company recorded long-term accounts receivable of ¥254.048 million related to the improper transactions, an allowance for doubtful accounts of the same amount, and ¥11.089 million in provision for doubtful accounts expense for the current period.