FY2026-Q2 earnings delay and accounting corrections for the prior 3 fiscal years will determine the comparability of FY2026-Q3

The FY2026-Q2 earnings summary was postponed from its original disclosure date and is now scheduled for disclosure on 13 November 2026. At the same time, an application to extend the submission deadline for the semi-annual report for the 63rd fiscal year is under consideration. The delay is due to the ongoing investigation by the Special Investigation Committee, which means that the audit firm is not expected to be able to deliver its interim review report by the prescribed deadline. Accordingly, when evaluating FY2026-Q3 results, it is necessary to first confirm not only the timing of the Q2 results being finalized but also the progress of audit procedures, rather than looking solely at Q3 revenue and profit.

The investigation covers used-truck purchase and sale transactions between the company and its business partners in prior fiscal years, and corrections to accounting treatments and disclosure documents are required for the 3 fiscal years from FY2023 through FY2025. If prior-period figures are corrected, the bases for year-on-year and cumulative comparisons presented in the FY2026-Q3 earnings summary may change. In particular, it is more important than the delay in the earnings announcement itself to determine whether the corrections affect the timing of revenue recognition, cost of sales, gross profit, accounts receivable or inventories, taxes, or retained earnings.

The current disclosure concerning the delay does not provide the FY2026-Q2 figures for revenue, operating profit, ordinary profit, net profit, operating cash flow, segment results, or the amount of any revision to the full-year earnings forecast. The impact of the prior-period corrections on FY2026 results is also still under review. Therefore, in FY2026-Q3, year-on-year growth rates cannot be evaluated at face value without confirming not only the Q2 actual figures but also the restated prior-period comparative figures, the impact of the restatement on retained earnings at the beginning of the period, and the tax and audit treatment.

If the investigation results relate to revenue recognition for used-truck transactions or the contractual terms with business partners, they could also affect the repeatability of revenue recognition in FY2026-Q3, the collectability of trade receivables, inventory valuation, and whether extraordinary gains or losses arise. At the next earnings announcement, the highest priority is to confirm together whether the investigation has been completed, the submission status of the semi-annual report, completion of the audit firm's review, the periods and amounts subject to correction, whether the FY2026 full-year forecast has been maintained or revised, and whether notes regarding the going concern assumption have been included.