Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
To whom it may concern:
June 30, 2025
Company: | ACCESS CO., LTD. |
Representative: | Kiyoyasu Oishi Representative Director, President & CEO |
(Securities Code: 4813 Prime Market, TSE) | |
Contact: | Mitsuhiro Okada Executive Officer, CFO, VP of Corporate Administration Unit |
(Phone: +81-3-6853-9088) |
Notice Concerning the Submission of Correction Reports on Annual Securities Reports, etc., Amendments of Financial Results for Prior Periods and Dividends for the Past Fiscal Year were in Excess of the Distributable Amount
ACCESS CO., LTD. hereby announces that the Company has submitted correction reports on the annual securities reports, the quarterly reports, and the semi-annual report for prior periods to the Kanto Local Finance Bureau on June 30, 2025 and the Company has also corrected past financial results as follows. Also, because of these corrections, it has become that the past dividend exceeded the distributable amount.
The Company deeply apologizes to its shareholders and investors, as well as to its business partners and other related parties, for any inconvenience and concern caused.
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Background and Reasons for the Corrections
As stated in the "Notice Concerning the Establishment of a Special Investigation Committee, Postponement of the Announcement of the Third Quarter Financial Results for the Fiscal Year Ending January 2025, and Revision of the Consolidated Forecast for the Fiscal Year Ending January 2025" dated November 29, 2024, in the investigation for the causes of the lengthening for the past due payments regarding some accounts receivable, which had increased mainly from new customers in the Network business segment, suspicions arose regarding improper sales recognition for some transactions at the U.S. subsidiary (hereinafter referred to as the "Doubt"). In response to this, ACCESS CO., LTD. established a special investigation committee composed primarily of external experts with no vested interest in the Company to conduct a comprehensive and in-depth investigation, and the Company has been cooperating with the investigation by the special investigation committee to clarify the facts and complete the accounting procedures as soon as possible.
Subsequently, during the investigation, similar cases to the Doubt and another doubt regarding the appropriateness of accounting treatment for software assets (hereinafter collectively referred to as the "additional investigation items") were discovered. As a result, the Company commissioned the Special Investigation Committee to conduct an investigation that included the additional investigation items and the special investigation was continued.
As stated in the "Notice Concerning Receipt of the Investigation Report of the Special Investigation Committee," dated today, in light of the results of the investigation by the Special Investigation Committee, the Company has determined that regarding the matters that have come to light in the course of this investigation, it is necessary to make retrospective corrections to the relevant accounting procedures of prior periods. Accordingly, it has corrected the consolidated financial statements, etc., contained in the annual securities reports, etc., that have already been submitted in the past, and submitted correction reports on the annual securities reports, quarterly
reports, and the semi-annual report of prior periods to the Kanto Local Finance Bureau. In making these corrections, the Company has also made corrections to the previously unrevised matters that were immaterial in prior periods.
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Documents Subject to the Submission of Correction Reports
Annual securities reports
37th Fiscal Year (From February 1, 2020 to January 31, 2021)
38th Fiscal Year (From February 1, 2021 to January 31, 2022)
39th Fiscal Year (From February 1, 2022 to January 31, 2023)
40th Fiscal Year (From February 1, 2023 to January 31, 2024)
Quarterly reports
Second quarter of the 39th Fiscal Year (From May 1, 2022 to July 31, 2022)
Third quarter of the 39th Fiscal Year (From August 1, 2022 to October 31, 2022) First quarter of the 40th Fiscal Year (From February 1, 2023 to April 30, 2023) Second quarter of the 40th Fiscal Year (From May 1, 2023 to July 31, 2023)
Third quarter of the 40th Fiscal Year (From August 1, 2023 to October 31, 2023) First quarter of the 41st Fiscal Year (From February 1, 2024 to April 30, 2024)
Semi-annual report
First six months of the 41st Fiscal Year (From February 1, 2024 to July 31, 2024)
Financial Results
Consolidated Financial Results for the Fiscal Year Ended January 31, 2021 Consolidated Financial Results for the Fiscal Year Ended January 31, 2022 Consolidated Financial Results for the Fiscal Year Ended January 31, 2023 Consolidated Financial Results for the Fiscal Year Ended January 31, 2024
Quarterly Financial Results
Consolidated Financial Results for the Six Months Ended July 31, 2022
Consolidated Financial Results for the Nine Months Ended October 31, 2022 Consolidated Financial Results for the Three Months Ended April 30, 2023 Consolidated Financial Results for the Six Months Ended July 31,2023
Consolidated Financial Results for the Nine Months Ended October 31,2023 Consolidated Financial Results for the Three Months Ended April 30, 2024 Consolidated Financial Results for the Six Months Ended July 31, 2024
Please note that the above-mentioned financial results and quarterly financial results have been corrected in the same way as the securities report, quarterly report, and semi-annual report, but corrections have not been disclosed individually. Please refer to the table below for the details of the corrections.
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Impact of the Corrections on the Consolidated Financial Results of Prior Periods
The impact of these corrections on the consolidated financial results of previous fiscal years is as follows. [Consolidated Financial Statements]
(Units: JPY millions, %)
Fiscal Term
科目
Before Correction
(A)
After Correction
(B)
Impact (B - A)
Rate of Change
(%)
Fiscal Year Ending January 31st, 2021 Annual
Net Sales
7,516
7,818
301
4.0%
Operating Profit/Loss
(2,641)
(2,120)
521
-
Ordinary Profit/loss
(2,337)
(2,123)
214
-
Profit/Loss attributable
to owners of parent
(2,537)
(2,294)
242
-
Total assets
29,262
26,116
(3,145)
(10.7%)
Total net assets
27,321
23,231
(4,090)
(15.0%)
Fiscal Year Ending January 31st, 2022 Annual
Net Sales
9,853
9,766
(87)
(0.9%)
Operating Profit/Loss
(3,219)
(3,207)
12
-
Ordinary Profit/loss
(2,646)
(2,919)
(273)
-
Profit/Loss attributable
to owners of parent
(3,049)
(3,243)
(194)
-
Total assets
27,962
24,268
(3,693)
(13.2%)
Total net assets
25,393
20,662
(4,731)
(18.6%)
Q2 of
Fiscal Year Ending January 31st, 2023 Accumulated
Net Sales
5,139
5,137
(1)
(0.0%)
Operating Profit/Loss
(2,016)
(2,012)
3
-
Ordinary Profit/loss
(1,692)
(1,439)
252
-
Profit/Loss attributable
to owners of parent
(1,743)
(1,532)
211
-
Total assets
26,753
22,679
(4,074)
(15.2%)
Total net assets
24,368
18,969
(5,399)
(22.2%)
Q3 of
Fiscal Year Ending January 31st, 2023 Accumulated
Net Sales
9,545
8,534
(1,010)
(10.6%)
Operating Profit/Loss
(1,690)
(2,581)
(891)
-
Ordinary Profit/loss
(1,271)
(1,908)
(636)
-
Profit/Loss attributable
to owners of parent
(1,346)
(2,028)
(682)
-
Total assets
27,476
22,248
(5,227)
(19.0%)
Total net assets
24,685
18,111
(6,573)
(26.6%)
Fiscal Year Ending
Net Sales
13,060
13,006
(53)
(0.4%)
January 31st, 2023 Annual
Operating Profit/Loss
(1,707)
(1,509)
197
-
Ordinary Profit/loss
(1,337)
(904)
432
-
Profit/Loss attributable
to owners of parent
(2,684)
(2,463)
220
-
Total assets
25,240
21,306
(3,934)
(15.6%)
Total net assets
22,062
16,898
(5,163)
(23.4%)
Q1 of
Fiscal Year Ending January 31st, 2024 Accumulated
Net Sales
3,916
3,562
(354)
(9.1%)
Operating Profit/Loss
356
(189)
(545)
-
Ordinary Profit/loss
376
(180)
(556)
-
Profit/Loss attributable
to owners of parent
360
(197)
(558)
-
Total assets
25,868
21,159
(4,708)
(18.2%)
Total net assets
22,483
16,723
(5,760)
(25.6%)
Q2 of
Fiscal Year Ending January 31st, 2024 Accumulated
Net Sales
6,738
6,926
187
2.8%
Operating Profit/Loss
(1,125)
(1,243)
(117)
-
Ordinary Profit/loss
(1,033)
(1,191)
(158)
-
Profit/Loss attributable
to owners of parent
(1,087)
(1,250)
(162)
-
Total assets
25,504
20,890
(4,614)
(18.1%)
Total net assets
22,001
16,164
(5,836)
(26.5%)
Q3 of
Fiscal Year Ending January 31st, 2024 Accumulated
Net Sales
10,771
10,725
(46)
(0.4%)
Operating Profit/Loss
(1,568)
(2,186)
(617)
-
Ordinary Profit/loss
(1,407)
(2,079)
(671)
-
Profit/Loss attributable
to owners of parent
(1,493)
(2,172)
(678)
-
Total assets
25,826
20,343
(5,482)
(21.2%)
Total net assets
21,887
15,363
(6,523)
(29.8%)
Fiscal Year Ending January 31st, 2024 Annual
Net Sales
16,573
15,117
(1,455)
(8.8%)
Operating Profit/Loss
(105)
(1,977)
(1,872)
-
Ordinary Profit/loss
(12)
(1,924)
(1,912)
-
Profit/Loss attributable
to owners of parent
(280)
(2,231)
(1,951)
-
Total assets
27,281
20,319
(6,961)
(25.5%)
Total net assets
22,615
15,121
(7,493)
(33.1%)
Q1 of
Fiscal Year Ending January 31st, 2025 Accumulated
Net Sales
3,458
3,872
414
12.0%
Operating Profit/Loss
(888)
(405)
483
-
Ordinary Profit/loss
(746)
(276)
469
-
Profit/Loss attributable
to owners of parent
(787)
(320)
466
-
Total assets
27,247
20,706
(6,540)
(24.0%)
Total net assets
22,441
14,903
(7,537)
(33.6%)
Q2 of
Fiscal Year Ending January 31st, 2025 Accumulated
Net Sales
8,059
8,366
307
3.8%
Operating Profit/Loss
(982)
(653)
328
-
Ordinary Profit/loss
(652)
(352)
300
-
Profit/Loss attributable
to owners of parent
(789)
(495)
294
-
Total assets
29,906
22,619
(7,286)
(24.4%)
Total net assets
23,295
15,070
(8,224)
(35.3%)
- Past Dividend Exceeded the Distributable Amount
Taking into account the impact of corrections it has been found that the total amount of dividends of 117 million yen resolved at the 35th Ordinary General Meeting of Shareholders held on April 17, 2019 and the total amount of dividends of 118 million yen resolved at the 36th Ordinary General Meeting of Shareholders held on April 22, 2020 exceeded the distributable amount calculated under the Companies Act and the
Company Accounting Regulations. Going forward, the Company will proceed with efforts including
verifying the facts regarding the dividends, considering the responsibility, and taking measures to prevent the recurrence of the incident that caused the excess.