TOKYO, Jun 30 (Pulse News Wire) – Abalance Corporation (3856.T) received a report from an external investigation committee set up to review questionable accounting practices related to a merger with Abit Co., Ltd. on March 31, 2025.
The committee was established following the company’s April 27, 2026, disclosure concerning the setup of an investigative panel to address concerns over fictitious sales and bad debt accounting issues involving transactions prior to the merger. The investigation report, which includes partial non-disclosure measures due to privacy and confidentiality reasons, will be released promptly. Abalance deeply apologizes to shareholders, individual investors, and all stakeholders for any inconvenience and concern caused by this situation.
The company previously disclosed the formation of the committee on April 27, 2026, aimed at addressing discrepancies in accounting practices linked to the merger with Abit Co., Ltd. on March 31, 2025. The report highlights potential irregularities in revenue recognition and handling of bad debts from past transactions.
Abalance continues to work towards transparency and accountability, ensuring all necessary steps are taken to address stakeholder concerns effectively.
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