eMnet Japan.co.ltd.
Notice Regarding Submission of “Improvement Report” to the Tokyo Stock Exchange
Submitted an Improvement Report detailing corrections to past financial results and anti-recurrence measures. Publicized the investigation into the facts, including root-cause analysis and preventive actions triggered by misconduct by former CFO, and established a independent third-party committee to conduct the investigation.
Key Figures
- Total misappropriated expenditures: 460,000,000 yen
- Restatement details: Corrections to past fiscal results and financial statements
- Investigation body: Third-party committee (two lawyers, one certified public accountant, etc.)
AI要約
Background of the fraud and corrections
This matter involves improper accounting requiring corrections to past financial results, with restatement and reissuance of financial data. The impact of the corrections spans multiple periods and may have affected operating income, ordinary income, and net income for the period. The president, upon pointing from the financial manager, established a third-party committee to conduct the investigation.
Anti-recurrence measures and organizational reforms
As corrective actions, plans include strengthening the supervisory functions of the board of directors and the Audit & Supervisory Committee, enhancing and ensuring independence of whistleblowing systems, improving the effectiveness of the internal audit function, and enforcing the segregation of duties in the banking transaction system, among others. A preventive action timetable will be set, and a fundamental review of organizational culture and governance will be promoted.
EMnet Japan, Ltd.
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