TOKYO, Jun 30 (Pulse News Wire) – Baby Calendar Inc. (7363.T) amended its internal control report for the fiscal year ending December 31, 2024, due to significant deficiencies identified in its financial reporting controls.
The company submitted the corrected report to the Kanto Finance Bureau. Previously, the company had assessed its financial reporting controls as effective as of December 31, 2024. However, subsequent investigations revealed discrepancies in advertising revenue collections, leading to the recognition of potential misappropriation of funds by the former CFO. An external special investigation committee confirmed these findings on March 31, 2026.
As a result, Baby Calendar revised its financial statements and disclosed necessary corrections to address the identified issues. The company acknowledged shortcomings in authority concentration, inadequate verification systems, and insufficient oversight mechanisms, which contributed to the deficiencies. To prevent recurrence, Baby Calendar implemented enhanced measures such as strengthening three-tier audits, clarifying accountability lines, improving approval procedures, and conducting regular compliance training for employees. The company remains committed to restoring trust through continuous improvement efforts.
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