#InvestigationReport

Air Water Inc. announced that a special investigation committee investigated a wide range of inappropriate accounting practices within its group companies, revealing a cumulative overstatement of approximately 24 billion yen in revenue over past years. Multiple executives including top management were involved, and vulnerabilities in internal controls were identified. Fundamental recurrence prevention measures are currently being formulated.

It was revealed that fictitious circular transactions were conducted at KDDI’s consolidated subsidiaries Biglobe and G-Plan from August 2018 through December 2025, resulting in accounting fraud with approximately JPY 2.461 trillion in overstated net sales, JPY 150.8 billion in operating income, and about JPY 329 billion in external outflows. Two involved employees were dismissed for disciplinary reasons, several executives resigned...