¥58 million provision for doubtful accounts related to improper transactions
First written in FY2023-Q2. . Latest entry: FY2026.
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- FY2026Settlement reached in civil litigation concerning improper transactionsAnnual report
「In connection with these matters, the company filed a civil damages claim against the relevant parties in May 2023. Following the settlement reached in the case, it recorded ¥16.472 million in settlement proceeds received.」
The company reached a settlement concerning damages claims related to the improper transactions and recorded ¥16.472 million in settlement proceeds received and ¥3.824 million in attorneys’ fees. The provision for doubtful accounts recorded through the previous fiscal year had no remaining balance at the end of the current fiscal year. - FY2023Specific amount of the provision for doubtful accountsAnnual report
「Non-operating income increased by ¥63 million to ¥207 million, mainly due to an increase in gains on sales of scrap, including the recognition during the current consolidated fiscal year of transactions that had been conducted off-book in connection with improper transactions at the company’s consolidated subsidiary. Non-operating expenses increased by ¥28 million to ¥144 million, mainly due to the recording of a provision for doubtful accounts.」
The company recorded a ¥26.225 million provision for doubtful accounts in connection with expected damages claims related to the improper transactions. It also recorded ¥39.852 million in investigation and audit costs and ¥3.820 million in attorneys’ fees and other expenses. - FY2023-Q3Damages claims explicitly directed at 4 peopleAnnual report
「The company plans to seek damages from the 4 people involved in the improper transactions and other matters, including ¥39 million in investigation and audit costs related to those matters, together with other losses incurred by the group.」
The company explicitly stated that it plans to seek damages from the 4 people involved for investigation and audit costs and other expenses related to the improper transactions. - FY2023-Q2First statedAnnual report
「The company recorded ¥58 million in provision for doubtful accounts under non-operating expenses, relating to long-term accounts receivable representing the expected amount of damages claims for improper transactions and other matters.」
The company recorded ¥58 million in provision for doubtful accounts under non-operating expenses for long-term accounts receivable representing the expected amount of damages claims for improper transactions and other matters.