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Latest Tokyo Brief coverage on REVOLUTION CO.,LTD., tracking filings, financial news, and market signals from Japan.
TSE:8894
REVOLUTION's shares now carry a Tokyo Stock Exchange special-alert warning and a listing penalty fee after auditor Aria declined to issue an opinion on its half-year accounts, prompting internal investigation committees at the company and two subsidiaries.
Revenue for the half year fell 12.0% to ¥12,542 million, but the group posted ¥1,363 million of operating profit, largely from crowdfunding rather than property sales. It still recorded a ¥1,056 million net loss and an equity ratio of 1.9%, while the auditor declined to express a conclusion on the half-year statements as the company investigates Yamawake Estate transactions with buyback arrangements.