TOKYO, May 29 (Pulse News Wire) – J.e.t.co.,ltd. (6228.T) disclosed today that its internal controls related to financial reporting had significant deficiencies, rendering them ineffective for the fiscal year ending December 31, 2025.
The company identified improper accounting adjustments involving multiple semiconductor cleaning devices from 2022 to 2024, leading to incorrect revenue recognition periods. As a result, J.E.T. filed revised reports for various periods, including the prospectus for its initial public offering in December 2022 and quarterly filings up to June 2025. The company acknowledged systemic weaknesses in governance and operational processes, such as inadequate training on revenue recognition standards and insufficient oversight due to overlapping roles within management.
To address these issues, J.E.T. plans to implement several corrective measures, including restructuring its board with executives who possess strong accounting literacy and integrity. Three directors implicated in the misconduct will step down at the upcoming annual shareholders' meeting on July 15, 2026. Additionally, the company will enhance compliance education programs and strengthen internal audit procedures to prevent future misstatements.
The corrected financial statements reflect all necessary adjustments and received an unqualified opinion from auditors.
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