TOKYO, May 29 (Pulse News Wire) – Sanrio Company,ltd. (8136.T) disclosed today that its executive received unauthorized compensation payments totaling US$1,682,018 (equivalent to ¥252.3 million, 1US$=¥150).
The special investigation committee found that the executive had been receiving various benefits, primarily COLA bonuses, from a subsidiary without formal approval processes since 2023. Additionally, the committee identified issues with the subsidiary's governance structure and internal controls, leading to the resignation of the involved executive. The company plans to correct past securities reports and implement stricter control measures moving forward.
It expects minor impacts on fiscal 2027 earnings due to related investigation costs. Sanrio also stated that it would enhance education and monitoring programs for executives to prevent similar incidents in the future. Sanrio emphasized that it takes this matter seriously and is committed to restoring trust through comprehensive reforms aimed at preventing recurrence.
The company intends to strengthen its global reporting system and ensure transparency in executive compensation management.
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