TOKYO, Jun 30 (Pulse News Wire) – J.e.t.co.,ltd. (6228.T) disclosed accounting irregularities involving improper revenue recognition for semiconductor cleaning equipment from fiscal 2022 to 2024.
The special investigation committee identified issues related to management's lack of accounting literacy and inadequate internal controls. In response, the board decided on June 30 to implement preventive measures and disciplinary actions, including the resignation of three directors effective July 15.
Additionally, the company plans to enhance governance through increased compliance training and strengthening internal audit functions. Further, the company will hold a shareholders' meeting in September to appoint new directors focused on management integrity and strengthen oversight mechanisms.
The firm apologizes for causing concern and commits to rebuilding trust through rigorous implementation of corrective measures.
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