TOKYO, Apr 30 (Pulse News Wire) – V-cube,inc. (3681.T) received unqualified audit opinions for its fiscal year ended December 31, 2025, due to ongoing investigations related to payments made by its subsidiary TEN Holdings, Inc.
The investigation involves unauthorized financial support provided to TEN without board approval, totaling approximately $5.4 million (about ¥808.4 million). Additionally, discrepancies in contract and payment recipients, along with unclear service provision details, necessitated the formation of an independent special committee on April 24, 2026, to conduct an objective review. The company also disclosed that the internal control report for the same period was subject to an unqualified opinion due to incomplete evaluation procedures stemming from the ongoing investigations.
As a result, the impact of potential misstatements could significantly affect the consolidated financial statements, but specific adjustments remain undetermined until further findings are available. V-cube stated it takes the situation seriously and will address the issues appropriately. The company apologized to shareholders and stakeholders for any inconvenience caused.
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