Nakatayamafuku has corrected a cluster of past reports after an internal review found two different problems, one in how it calculated shareholder total return and another in how it classified part of its consolidated cash flows. The company amended four annual securities reports, one half-year report and the earnings summaries for the years to March 2025 and 2026. It said the corrections do not change past financial position or earnings.
| Document | Period | What changed |
|---|---|---|
| Annual securities reports | Years to March 2022 to 2025 | Shareholder total return figures revised across all four reports; the year to March 2025 report also updates cash-flow lines |
| Half-year report | First half of the year to March 2026 | Comparative full-year cash-flow figures for the year to March 2025 updated |
| Earnings summary | Year to March 2025 | Operating cash flow revised to a ¥6.2mn outflow from a ¥43.8mn inflow, financing cash flow to ¥797.7mn from ¥747.7mn |
| Earnings summary | Year to March 2026 | Current-year cash-flow figures unchanged, but the prior-year comparative row updated to the corrected 2025 figures |
The first issue was a calculation problem with wide reach. Nakatayamafuku said it had misunderstood the method for calculating shareholder total return, which meant the figures disclosed in annual securities reports for the years to March 2022 through 2025 had to be revised. One visible example is the figure for the year to March 2025, which was cut to 94.6% from 117.8%. The company also said this part of the correction did not require changes to past earnings summaries.
The second issue is the one that changes how readers interpret cash generation. Part of the amount that should have been recorded in financing cash flow as the net increase in short-term borrowings was mistakenly added to “other” within operating cash flow, the company said. In the corrected earnings summary for the year to March 2025, operating cash flow is now a ¥6.2mn outflow, not a ¥43.8mn inflow, while financing cash flow rises to ¥797.7mn from ¥747.7mn. Cash and cash equivalents at year end stay at ¥7.25bn.
That correction also flows into later disclosures. In the amended earnings summary for the year to March 2026, the current-year cash-flow figures are unchanged, but the comparative row for the prior year now shows the corrected 2025 numbers, meaning last year’s operating cash flow is presented as a use of cash rather than a source of it. Nakatayamafuku said it will renew related manuals and further strengthen accounting and finance oversight across the group to prevent a repeat.