Air Water Inc.
Notice Regarding Disciplinary Actions Against Involved Parties
Air Water Inc. confirmed involvement of top management in inappropriate accounting practices and resolved disciplinary measures including voluntary reduction of monthly compensation for the President and other related parties.
Key Figures
- President & CEO Monthly Compensation Forfeiture Rate: 100% (3 months)
- Directors' Monthly Compensation Forfeiture Rate: 50% (3 months)
- Full-time Audit & Outside Directors' Monthly Compensation Forfeiture Rate: 20% (3 months)
AI要約
Clarification of Responsibility and Details of Disciplinary Actions
Following the investigation by a special investigative committee, Air Water Inc. identified inappropriate accounting practices, acknowledging involvement of top management and the management team. Based on deliberations and recommendations from external experts, the Board of Directors resolved that the President & CEO voluntarily forgo 100% of monthly compensation for three months; directors 50%; and full-time audit & outside directors 20% for the same period. Executive officers and representatives of involved group companies will also be strictly disciplined.
Impact on Shareholders and Investors and Apology
The company takes this situation very seriously and deeply apologizes to shareholders, investors, and other stakeholders for the significant inconvenience and concern caused. Moving forward, it intends to sincerely address the recommendations in the investigation report and rigorously implement measures to prevent recurrence. There is no disclosure of specific financial impact or figures, and the announcement focuses mainly on the disciplinary actions.
