Abalance Corporation
Notification on corrections to previous years’ Securities Report, etc. and corrections to prior year financial highlights
Corrections to prior years' Securities Reports and financial summaries were implemented. As a result of self-checks, revisions include processing of overseas subsidiary restricted stock grant transactions and tax-effect accounting, as well as restating period attribution and presentation. The company will continue to strengthen internal controls to ensure reliability of financial reporting.
Key Figures
- Correction target period: 21st term to 26th term (extracts)
- Submission of correction reports for the relevant financial results summaries and Securities Reports
- Main areas of correction: revenue recognition, inventories valuation, cost calculation, fixed asset valuation, tax-effect accounting, and impairment-related period attribution revisions
AI要約
Background and purpose of the corrections
In response to the investigations by the Independent Committee, the Audit Committee, and the Investigation Committee, the company conducted an internal review to reassess the appropriateness of prior year accounting treatments and financial reporting. As a result, it determined that corrections were required for major accounting treatments such as revenue recognition, inventories evaluation, cost calculations, fixed asset valuation, and tax-effect accounting, leading to the restatement of the prior year's consolidated financial statements and quarterly reports.
Future actions and impact
The corrections aim at ensuring the accuracy of financial statements, with ongoing strengthening of internal controls and review of the accounting close and disclosure processes. By reinforcing the accounting and finance functions and enhancing monitoring, the company aims to provide timely, appropriate, and accurate disclosures. Investors will be notified promptly as disclosures are clarified.
Abalanсe 株式会社
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