What was corrected and how
A subsequent correction by the company to the contents of an already published filing.
Summary of Financial Results for the Fiscal Year Ended September 2024 (Japanese GAAP) (Consolidated)
Corrections are indicated by ＿. As there are numerous corrections, only the corrected content is provided for the items subject to correction.
Consolidated results for the fiscal year ended September 2024 Net Sales ¥8,142 million / Operating loss ¥(390) million / Ordinary loss ¥(453) million / Net loss attributable to owners of the parent ¥(1,813) million / Consolidated financial position as of September 2024 Total assets ¥6,774 million / Net assets ¥(5,439) million
The impact of the correction on financial figures for each consolidated fiscal year is presented above. It is also stated that, as a result of the corrections and other matters, the company became insolvent and a material uncertainty exists regarding the going concern assumption.
There was a discrepancy between the number of total agency commission payments registered in the commission calculation system, which formed the basis for the present-value calculations, and the actual number. In addition, some of the commission amounts used in the present-value calculations differed from actual receipts from insurance companies, and some calculations were based on commission amounts without a reasonable basis. As a result, net sales had been overstated from prior fiscal years.
| Item | Details |
|---|---|
| Disclosure subject to correction | Summary of Financial Results for the Fiscal Year Ended September 2024 (Japanese GAAP) (Consolidated) |
| Original disclosure date | 28 February 2025 |
| Location of correction | Corrections are indicated by ＿. As there are numerous corrections, only the corrected content is provided for the items subject to correction. |
| Details of correction | Not disclosed → Consolidated results for the fiscal year ended September 2024 Net Sales ¥8,142 million / Operating loss ¥(390) million / Ordinary loss ¥(453) million / Net loss attributable to owners of the parent ¥(1,813) million / Consolidated financial position as of September 2024 Total assets ¥6,774 million / Net assets ¥(5,439) million |
| Reason for correction | There was a discrepancy between the number of total agency commission payments registered in the commission calculation system, which formed the basis for the present-value calculations, and the actual number. In addition, some of the commission amounts used in the present-value calculations differed from actual receipts from insurance companies, and some calculations were based on commission amounts without a reasonable basis. As a result, net sales had been overstated from prior fiscal years. |
| Impact on Business Performance | The impact of the correction on financial figures for each consolidated fiscal year is presented above. It is also stated that, as a result of the corrections and other matters, the company became insolvent and a material uncertainty exists regarding the going concern assumption. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The accounting auditor pointed out that some of the present-value calculations for agency commissions differed from actual conditions. An investigation found discrepancies between the number of payments registered in the commission calculation system and the actual number, and identified present-value calculations based on commission amounts that differed from actual receipts and on amounts without a reasonable basis. As a result, net sales for prior fiscal years had been overstated.