Decision and Details
Board of Directors (regarding the transition to a company with an Audit and Supervisory Committee) and the Company (regarding the policy for formulating and submitting an improvement plan)Policy for formulating an improvement plan
To fundamentally improve issues with the internal control system and other matters, with a view to having the company’s designation as a Specially Alerted Issue lifted and meeting the requirements for the market segment transfer review. To establish and strengthen governance and the internal control system based on the findings in the Third-Party Committee’s investigation report and its recommendations for measures to prevent recurrence.
| Item | Details |
|---|---|
| Matter Covered | Policy for formulating an improvement plan |
| Decision-Making Body | Board of Directors (regarding the transition to a company with an Audit and Supervisory Committee) and the Company (regarding the policy for formulating and submitting an improvement plan) |
| Decision Date | 27 October 2026 |
| Implementation Date | 30 October 2026 (review and drafting of the improvement plan, scheduled); 29 December 2026 (timely disclosure of the improvement plan and status report, scheduled) |
| Period Covered | Improvement measures period from 4 August 2026 to after 29 December 2026 |
| Reason | To fundamentally improve issues with the internal control system and other matters, with a view to having the company’s designation as a Specially Alerted Issue lifted and meeting the requirements for the market segment transfer review. To establish and strengthen governance and the internal control system based on the findings in the Third-Party Committee’s investigation report and its recommendations for measures to prevent recurrence. |
| Governing Rule | Article 503, paragraph 13, item 1 of the Tokyo Stock Exchange Securities Listing Regulations |
| Related previous disclosures | 29 September 2026, “Notice Regarding the Tokyo Stock Exchange’s Designation of the Company as a Specially Alerted Issue and Collection of a Listing Agreement Violation Penalty”; 30 September 2026, “Notice Regarding the Designation of the Company’s Shares as Securities Under Supervision (Under Examination)”; 4 August 2026, “Notice Regarding Publication of the Third-Party Committee’s Investigation Report”; 13 August 2026, “Notice Regarding Formulation of Measures to Prevent Recurrence (Outline)”; 30 September 2026, “Notice Regarding Formulation of Measures to Prevent Recurrence (Detailed Version)” |
| Future plans | The company plans to submit a draft improvement plan and status report to Japan Exchange Regulation on 30 October 2026 and make a timely disclosure of the improvement plan and status report on 29 December 2026. Subject to approval and adoption at the annual general meeting of shareholders scheduled for December 2026, the company plans to appoint new directors. |
Items this document does not state (3)
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.Because the Tokyo Stock Exchange determined that there was a significant need for improvement in the company’s internal control system and other matters and designated the company as a Specially Alerted Issue. In addition, based on the findings in the Third-Party Committee’s investigation report and its recommendations for measures to prevent recurrence, the company aims to establish and strengthen its governance and internal control systems.