Preventing recurrence of improper accounting practices and strengthening internal controls
First written in FY2022. 1 of 3 entries say "Advanced", first in FY2023. Latest entry: FY2026.
7 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The group has defined “discipline” as a concept encompassing the standards that must be observed, including compliance, internal controls, systems, rules and business processes, and has worked to foster “a culture that values discipline.” It will continue working to foster its organisational culture in order to rebuild relationships of trust with parties both inside and outside the company.」
As measures to prevent recurrence following the improper accounting practices, the company continues to promote an organisational culture that values discipline, internal controls, training by external experts and risk management. - FY2023AdvancedAnnual report
「The company will establish and implement the following measures to prevent recurrence and will work to develop and operate appropriate internal controls. ① Introduction of measures to establish a compliance framework and a management philosophy based on compliance by management ② Establishment of management policies that balance corporate growth and legal compliance, and review of the operating structure in line with those policies ③ Strict definition of the scope of authority and responsibility in the segregation of duties and delegation of authority ④ Establishment of appropriate relationships with business partners ⑤ Review of business processes and strengthening of monitoring functions by the administrative divisions, including the internal audit department」
The 5 measures to prevent recurrence established in FY2022 were also established and implemented in FY2023 and will be continued. Regular reviews of accounting policies and training for personnel responsible for financial reporting were also added. - FY2022First statedAnnual report
「The company will establish and implement the following measures to prevent recurrence and will work to develop and operate appropriate internal controls. ① Introduction of measures to establish a compliance framework and a management philosophy based on compliance by management ② Establishment of management policies that balance corporate growth and legal compliance, and review of the operating structure in line with those policies ③ Strict definition of the scope of authority and responsibility in the segregation of duties and delegation of authority ④ Establishment of appropriate relationships with business partners ⑤ Review of business processes and strengthening of monitoring functions by the administrative divisions, including the internal audit department」
In response to the improper accounting practices, the company stated that it would establish and implement 5 measures to prevent recurrence covering the compliance framework, management policies, delegation of authority, relationships with business partners, business processes and monitoring.