Circumstances giving rise to material doubt regarding the going concern assumption
The company group (filing company: ｕｎｂａｎｋｅｄ株式会社)
Gold bullion trading
¥1.34 billion in uncollected trade receivables from bullion trading, substantial losses and materially negative cash flow from operating activities, the need to improve the internal control system and other areas, designation as a Security on Special Alert, and the risk of delisting
¥1.34 billion in uncollected trade receivables. Although a substantial allowance for doubtful accounts was recognized, the amount of the allowance and the loss amount are Not disclosed
Fiscal year ending March 2026 (current consolidated fiscal year)
¥1.34 billion (trade receivables from bullion trading; counterparty name: Not disclosed)
Related procedures
Designation as a Security on Special Alert
Company response
Rebuild the management oversight system and strengthen the business foundation, fundamentally review and strengthen governance and the internal control system, steadily implement measures to prevent recurrence under the new management structure, and appropriately disclose progress on those measures
The company will take measures to stabilize management and secure funding for future operations, work to resolve or improve these circumstances, rebuild the management oversight system and strengthen the business foundation in line with the expansion of the group, and seek to restore the company. It will implement measures to prevent recurrence under the new management structure and work to restore trust. The measures are still being implemented or planned, and material uncertainty remains at this time.
The company states that it will appropriately disclose progress on measures to prevent recurrence, but the specific timing is Not disclosed
| Item | Details |
|---|---|
| Event name | Circumstances giving rise to material doubt regarding the going concern assumption |
| Date of occurrence | December 2025 (when ¥1.34 billion in trade receivables from bullion trading became uncollectible) / 26 May 2026 (date of designation as a Security on Special Alert) |
| Subject Entity | The company group (filing company: ｕｎｂａｎｋｅｄ株式会社) |
| Target Locations / Products | Gold bullion trading |
| Cause | ¥1.34 billion in uncollected trade receivables from bullion trading, substantial losses and materially negative cash flow from operating activities, the need to improve the internal control system and other areas, designation as a Security on Special Alert, and the risk of delisting |
| Amount of Impact on Business Performance | ¥1.34 billion in uncollected trade receivables. Although a substantial allowance for doubtful accounts was recognized, the amount of the allowance and the loss amount are Not disclosed |
| Accounting period in which recognized | Fiscal year ending March 2026 (current consolidated fiscal year) |
| Type of litigation or proceeding | Designation as a Security on Special Alert |
| Date of filing / date of action | 26 May 2026 (date of designation as a Security on Special Alert) |
| Amount of receivables at risk of non-collection or delayed collection | ¥1.34 billion (trade receivables from bullion trading; counterparty name: Not disclosed) |
| Measures to prevent recurrence | Rebuild the management oversight system and strengthen the business foundation, fundamentally review and strengthen governance and the internal control system, steadily implement measures to prevent recurrence under the new management structure, and appropriately disclose progress on those measures |
| Outlook | The company will take measures to stabilize management and secure funding for future operations, work to resolve or improve these circumstances, rebuild the management oversight system and strengthen the business foundation in line with the expansion of the group, and seek to restore the company. It will implement measures to prevent recurrence under the new management structure and work to restore trust. The measures are still being implemented or planned, and material uncertainty remains at this time. |
| Planned follow-up disclosure | The company states that it will appropriately disclose progress on measures to prevent recurrence, but the specific timing is Not disclosed |
Items this document does not state (12)
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.In December 2025, ¥1.34 billion in trade receivables from bullion trading remained uncollected, resulting in the recognition of a substantial allowance for doubtful accounts. This led to substantial operating loss, ordinary loss, net loss attributable to owners of the parent, and materially negative cash flow from operating activities. In addition, the need to improve the internal control system and other areas is significant. The company was designated as a Security on Special Alert effective 26 May 2026, creating a risk of delisting.