TOKYO, Apr 28 (Pulse News Wire) – FHF Co. (357A.T) disclosed misconduct by director Yuuaki Otsuka, who engaged in improper personal expenses and inadequate performance of duties.
At a board meeting held on April 28, the company decided to remove Otsuka as a director and deny him retirement benefits. These decisions will be put to vote at an extraordinary shareholders’ meeting scheduled for May 22, 2026.
The misconduct included inappropriate personal expenditures through expense cards and insufficient execution of duties as a director. While the impact on the company's earnings was limited, there will be no revisions to the consolidated earnings forecast released on May 15, 2025.
To prevent future incidents, FHF plans to enhance compliance training for executives and management, strengthen internal audit functions, clarify role assignments and verification processes, and improve stakeholder communication regarding governance improvements.
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