Okaya Electric Industries Adjusts FY2026 Interim Results Due to Accounting Error

TOKYO, May 26 (Pulse News Wire) – Okaya Electric Industries CO.,LTD. (6926.T) revised its fiscal year 2026 interim results due to an accounting discrepancy identified during the preparation of its securities report.

The revision pertains to the land revaluation surplus reported in the consolidated balance sheet, which was incorrectly recorded. As a result, adjustments were made to the deferred tax liabilities related to revaluations, retained earnings, and the income tax adjustment item in the consolidated income statement. The correction did not affect the amount of impairment losses recognized. Consequently, the parent company's attributable lower net profit for the period was adjusted, leading to revisions in the differences between forecasted and actual performance figures.

Specifically, the company corrected the previously disclosed sales revenue, operating profit, ordinary profit, and per-share lower net profit figures. The revised data reflects a more accurate representation of the company’s financial standing. Notably, the overall trend remains consistent with the initial projections, with a decrease rate of 7.0%. For the fiscal year ending March 31, 2026, the company now reports: - Sales Revenue: ¥11.00 billion (previously ¥11.00 billion) - Operating Profit: ¥-¥970 million (previously ¥-¥970 million) - Ordinary Profit: ¥-¥945 million (previously ¥-¥945 million) - lower net profit Attributable to Parent Company Shareholders: ¥-¥970 million (previously ¥-¥970 million) The company emphasizes that there were no changes to the extraordinary expenses and losses previously reported.