Source disclosure: January 29, 2026
Kushim,Inc. [2345.T]
TOKYO, Jan 29 (Pulse News Wire) – Kushim,inc. (2345.T) received a notice from the Financial Services Agency ordering the payment of a fine amounting to ¥12 million.
The penalty stems from past reporting errors involving overstated gains from selling shares of Iefrontier Co., Ltd., and understating losses related to FISCO Decentralized Application Platform shares and FISCO Coins. In fiscal 2022, Kushim incorrectly adjusted its earnings by directly applying negative goodwill to retained earnings instead of properly adjusting the sale proceeds after accounting for the investment loss. This led to a reduction in net income attributable to shareholders, necessitating corrections to previous financial reports. Additionally, the company failed to appropriately account for valuation losses on FISCO Decentralized Application Platform shares and FISCO Coins held during the fiscal year ending October 2023 due to insufficient market activity and low disposability.
Kushim plans to thoroughly review the findings and recommendations detailed in the third-party committee report dated April 23, 2025, and consult with legal advisors to address potential misconduct by former management. The company also intends to investigate whether excessive investments in illiquid FISCO Coins benefited certain stakeholders rather than general shareholders. The impact on the current fiscal year's performance is expected to be minor. Kushim will continue to disclose any further developments as necessary.
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