TOKYO, May 21 (Pulse News Wire) – Nichiryoku CO.,LTD. (7578.T) announced today that it will amend its previous financial reports due to accounting adjustments related to receivable guarantees.
The company stated that the adjustment reflects the longer-than-expected recovery period for certain cemetery sales performance and collection forecasts, leading to a decrease in the valuation of receivable guarantees. As a result, total assets decreased by ¥1.416 billion and net assets dropped by ¥1.416 billion compared to the previously reported figures. For the fiscal year ending March 2022, revenue was revised down by ¥4 million, operating profit declined by ¥4 million, ordinary profit fell by ¥226 million, and net profit decreased by ¥226 million.
Similar adjustments were made for subsequent fiscal years through March 2025, impacting various financial metrics such as revenues, operating profits, and net profits across multiple quarters. The company also noted that it plans to file corrected securities reports within the deadlines for the respective reporting periods. Affected documents include annual reports and quarterly statements from fiscal years 2022 to 2026.
NichiRoku deeply regrets any inconvenience caused to shareholders and investors and apologizes sincerely for any concerns raised by these changes.
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