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Japan Corporate Risk (Page 6)

Investigations, recalls, restatements, lawsuits and late filings at Japanese companies.

  1. Besterra Discloses Four Deaths at Kawasaki Demolition Site, Cost Still Unknown

    Besterra's half-year filing confirms four people died when part of the equipment being dismantled fell at its Kawasaki demolition site in April, and the contractor says it still cannot estimate the financial impact even as operating profit more than doubled and net profit fell by half on a securities writedown.

  2. Sony Life Fraud Toll Reaches ¥56.4mn as FSA Gives Inspection Notice

    Sony Life's internal review now confirms ¥56.4mn in insurance-related fraud from 21 customers and ¥124.2mn in separate improper money transfers from 17 customers, and the insurer says the Financial Services Agency has given notice of an on-site inspection while it winds down its exclusive-agency sales channel.

  3. Sakura Internet's Closing Breach Report Puts Up to 1.36 Million Accounts in Scope

    Sakura Internet's closing report on its 2026 intrusion says a customer database was reachable from April 2023 to March 2026, exposing up to 1,360,563 accounts and unhashed initial passwords, though the host maintains it has found no confirmed misuse to date.

  4. Nidec Shareholder Seeks ¥28.73bn From Two Former Directors Over Buybacks and Dividend

    A single Nidec shareholder is suing two former directors for ¥28.73bn, alleging share buybacks in 2022-23 and a December 2022 interim dividend exceeded the company's legal distribution limit; Nidec says the claim targets the directors personally and will not affect its earnings.

  5. Tokyo Court Dismisses NTK's ¥203bn Damages Claim Against Daiichi Sankyo

    A Tokyo court dismissed every claim in Northern TK Venture's three-year suit against Daiichi Sankyo, including a demand that swelled from ¥20bn to ¥203.3bn over a blocked Fortis Healthcare tender offer, though an appeal remains possible.

  6. Cybertrust Japan Halts Certificate Issuance After Missing Apple's New CA Approval Rule

    Cybertrust Japan will pause SSL/TLS certificate issuance from September 15 after its root CA partner failed to secure Apple's newly required sign-off for an outside-run intermediate CA, forcing revocations while Apple and Google approval remains outstanding.

  7. AEON Keeps 14 Sites Out of Its Sales Count After the Kumamoto Mall Blast

    Twelve AEON Kyushu stores and two AEON Mall shopping centers remained suspended through August after the July 28 Kumamoto Mall explosion, forcing AEON to strip them from its same-store sales and retroactively revise July's numbers while an outside panel investigates the cause.

  8. BlueMeme probe finds ex-CEO disguised free deal as ¥30mn sale to hit IPO targets

    An outside investigation found BlueMeme's former chief executive and former management-administration chief disguised a free transaction as a paid software licence to satisfy underwriter conditions for a since-abandoned 2020 listing, forcing provisional restatements across six fiscal years and a September 30 deadline for corrected filings.

  9. Tokyo Police Accept unbanked's Criminal Complaint Over ¥1.36bn Gold Bullion Loss

    Investigation Division 2 has accepted unbanked's criminal complaint against five former trading partners over a gold bullion deal that left ¥1.34bn uncollected, a figure the company now puts at ¥1.36bn across 61 bars, while stressing the complaint's acceptance alone will not move its earnings.

  10. Nittetsu Mining Delays Copper Project Start in Chile

    Storm-damaged roads and a slow-moving power permit process have pushed Nittetsu Mining's copper mine project in Chile past its July-to-September target, and the company still won't say when output will begin or what it will cost.

  11. Nidec investigators confirm 844 cases of quality misconduct, concentrated in three business units

    Investigators counted 844 confirmed quality-misconduct cases at Nidec, most of them manufacturing changes made without the required customer notification or approval, and blamed unrealistic profit targets and the founder's centralized management, with cases concentrated in three business units.

  12. OKWEB Admits Rights-Offering Cash Moved Before the Board Signed Off

    OKWEB's board has now approved reallocating ¥366mn of M&A funds to working capital, months after part of that money, ¥32mn as of end-June, had already been spent without prior board sign-off or disclosure, a gap the company blames on its management department's lapsed internal checks.

  13. FinTech Global Finds Truck Titles Never Reached Its Investor Funds

    Some used trucks bought by FinTech Global's investor funds were never re-registered in the funds' name, a special probe into operator AI Storm found, and the Tokyo firm still cannot say what it will cost.

  14. MEDIUS HOLDINGS corrects five straight years of understated lease disclosures

    Five amended securities reports filed on the same day show the medical-equipment distributor's disclosed lease commitments were too low every year from mid-2020 to mid-2025, in one year by more than a billion yen.

  15. unbanked Resumes Gold Bullion Trading After Court Dismisses Ousted Director's Injunction

    A dismissed director's court petition was enough to get unbanked's bank accounts frozen for nine business days; the Tokyo District Court's August 31 dismissal of her claim let the freeze lift and gold bullion trading resume on September 2.

  16. Seiko Epson locks in $109mn US tariff refund after Supreme Court strikes down IEEPA duties

    US Customs approved the full $109mn Seiko Epson sought after the Supreme Court voided IEEPA tariffs, with the amount plus interest expected to be booked in the quarter ending September 2026 and already reflected in the company's August guidance.

  17. Nidec to Disclose Quality-Misconduct Report Findings on September 4

    Nidec confirmed it has received an outside committee's report on parts, process and design changes made without customer approval, but the findings, and any sense of scale, wait until Friday's redacted release.

  18. FinTech Global Says AI Storm Never Transferred Titles on Trucks Backing Its Funds

    FinTech Global says AI Storm, an operator in its used-vehicle fund series, failed to re-register truck titles in the funds' name as required, and the wholesaler's own earnings-impact estimate is still pending.

  19. REVOLUTION Probe Finds 28 of 251 Property Funds Mislabeled as Sales, Not Loans

    REVOLUTION sold off the property-fund subsidiary at the center of an accounting inquiry the same day it received a report finding 28 of 251 funds should be booked as loans, not sales, leaving two weeks before it must satisfy its auditor or restate June's half-year filing.

  20. Kansai Electric Targets September 15 Restart for Mihama Reactor After Turbine Fix

    Kansai Electric says its 826,000-kilowatt Mihama Unit 3 reactor, shut down in May after a high-pressure turbine steam leak, is scheduled to reconnect to the grid on September 15 once startup preparations following a casing-cap replacement are complete.

  21. Tokyo Exchange Puts Tetsujin Under Supervision Over a Free-Float Miss

    Tetsujin shares go under Tokyo Stock Exchange supervision from September 1 after the company failed to confirm its 25% free-float ratio by an improvement-period deadline, with delisting possible from March 2027 only if the exchange's review of an early-September filing still finds the ratio short.

  22. FreeBit's Next Earnings Report Will Also Miss Its Deadline as Independent Probe Drags On

    FreeBit still can't say when its next earnings report, its overdue annual results, or its securities filing will land, as a committee's review of the CountUp acquisition continues without a set end date.

  23. Ransomware Attack Delays COTA's Annual Report, Triggers Internal-Control Warning

    A March ransomware attack knocked out COTA's servers, forcing months of manual accounting work and pushing the haircare maker's annual filing past its ordinary deadline, and the company now says its internal financial controls were not effective as a result.

  24. CyberStep Flags Broken Payment Controls After Unwinding a ¥1.25bn Acquisition

    CyberStep Holdings sent ¥1,250mn out the door for an acquisition before the contract paperwork securing that sum was finished, then had to unwind the whole deal and correct its earnings disclosure once it couldn't verify the money was safe.

Japan Corporate Risk (Page 6) | Tokyo Brief