Improper accounting treatment in the commercial business and corrections to prior-year financial results
First written in FY2023-Q3. 5 of 6 entries say "Restated". Latest entry: FY2025-H1.
No other company in this theme has enough history to compare yet.
- FY2025-H1RestatedAnnual report
「In response to the above misconduct, the Company withdrew from the trading business and is working to collect outstanding long-term operating receivables and improve its internal control system.」
The Company continues to address improper accounting in the trading business, the business withdrawal, collection of outstanding long-term operating receivables and improvements to the internal control system. - FY2025-Q1RestatedAnnual report
「During the consolidated fiscal year ended February 2023, following a指摘 from an external organisation, the Company conducted an investigation by a third-party committee from 9 December 2022 into the facts and other matters relating to part of the revenue recognition in the trading business from fiscal year 113 (the fiscal year ended February 2019) through the second quarter of fiscal year 117 (the fiscal year ended February 2023). The investigation revealed that improper accounting had been applied to revenue in the trading business, and the Company restated revenue and other figures for those prior periods. In response to the misconduct, the Company withdrew from the trading business and is working to collect outstanding long-term operating receivables and improve its internal control system.」
The Company continues to disclose information on improper accounting in the trading business, restatements of prior periods from the fiscal year ended February 2019 through the second quarter of the fiscal year ended February 2023, the business withdrawal, collection of outstanding long-term operating receivables and improvements to the internal control system. - FY2024RestatedAnnual report
「During the previous consolidated fiscal year, following a指摘 from an external organisation, the Company conducted an investigation by a third-party committee from 9 December 2022 into the facts and other matters relating to part of the revenue recognition in the trading business from fiscal year 113 (the fiscal year ended February 2019) through the second quarter of fiscal year 117 (the fiscal year ended February 2023). The investigation revealed that improper accounting had been applied to revenue in the trading business, and the Company restated revenue and other figures for those prior periods during the previous consolidated fiscal year. The Company also withdrew from the trading business during the current consolidated fiscal year and is working to collect outstanding accounts receivable.」
The Company continues to disclose information on improper accounting in the trading business and prior-period restatements, while working during the current period to collect outstanding accounts receivable following its withdrawal from the business. - FY2024-Q2RestatedAnnual report
「The investigation revealed that improper accounting had been applied to revenue recognition in the trading business from fiscal year 113 (the fiscal year ended February 2019) through the second quarter of fiscal year 117 (the fiscal year ended February 2023), and the Company restated revenue and other figures for those prior periods. In response to the accounting misconduct, the Company decided on 8 March 2023 to withdraw from the trading business and is working to collect outstanding accounts receivable and fundamentally improve its internal control system.」
The Company continues to disclose information on improper accounting in the trading business, prior-period restatements, the withdrawal from the business, collection of outstanding receivables and improvements to the internal control system. - FY2024-Q1RestatedAnnual report
「During the previous consolidated fiscal year, following a指摘 from an external organisation, the Company conducted an investigation by a third-party committee from 9 December 2022 into the facts and other matters relating to part of the revenue recognition in the trading business from fiscal year 113 (the fiscal year ended February 2019) through the second quarter of fiscal year 117 (the fiscal year ended February 2023). The investigation revealed that improper accounting had been applied to revenue in the trading business, and the Company restated revenue and other figures for the above prior periods.」
The Company continues to disclose information on improper accounting in the trading business and restatements of prior periods from the fiscal year ended February 2019 through the second quarter of the fiscal year ended February 2023, including restated figures and related receivables. - FY2023-Q3First statedAnnual report
「Following a指摘 from an external organisation, the Company conducted an investigation by a third-party committee from 9 December 2022 into the facts and other matters relating to part of the revenue recognition in the trading business from fiscal year 113 (the fiscal year ended February 2019) through the second quarter of fiscal year 117 (the fiscal year ended February 2023). The investigation revealed that improper accounting had been applied to revenue in the trading business, and the Company restated revenue and other figures for the above prior periods.」
Improper accounting was identified in the recognition of revenue from the trading business, and prior-period financial results from the fiscal year ended February 2019 through the second quarter of the fiscal year ended February 2023 were restated. The Company also recorded a provision of ¥276.2 million for restatement-related expenses and ¥405.487 million in bad debt expense.