TSE News

Public Announcement Measure and Request for Improvement Report -TSUBAKIMOTO KOGYO CO., LTD.-

Update : May 13, 2013

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[Tokyo Stock Exchange, Inc.]

TSE has taken the Public Announcement Measure and requested an Improvement Report as follows.

1. Company Name TSUBAKIMOTO KOGYO CO., LTD.
(Code: 8052, Market Division: 1st Section)
2.Date of Public Announcement Measure May 10, 2013 (Fri.)
Provision Securities Listing Regulations, Rule 508, Paragraph 1, Item 1
(Due to a public announcement being deemed necessary in cases where TSE has recognized a violation of the matters to be observed when conducting disclosure)
3.Improvement Report Submission Deadline May 24, 2013 (Fri.)
Provision Securities Listing Regulations, Rule 502, Paragraph 1, Item 1
(Due to improvements being deemed highly necessary in cases where TSE has recognized a violation of the matters to be observed when conducting disclosure)
4.Reason TSUBAKIMOTO KOGYO CO., LTD. (hereinafter, “the Company”) disclosed, on May 8, 2013, the result of inspection by the third-party committee, a plan to amend past earnings reports, etc., and an outline of such amendments. On May 10, 2013, the Company disclosed that it submitted amendment reports for past securities reports, etc., and that it was planning to amend past earnings reports, etc. on May 17, 2013.
As a result, the Company was found to have disclosed earnings information requiring material amendments during the period from the fiscal year ended March 2008 to the 3rd quarter of the fiscal year ended March 2013 due to the inappropriate acts including fictitious sales and purchases with multiple client companies.
This case was caused by improper account processing due to inappropriate acts involving some employees and it is deemed that the Company had not implemented effective organizational structure to check for such improprieties.
Based on the above, this case is deemed to (i) be in violation of matters to be observed related to timely disclosure, (ii) have considerable influence on investment decisions and (iii) require public announcement. Thus, TSE shall implement public announcement measures.
Furthermore, this is a case of inappropriate disclosure arising from deficiencies in the Company’s organizational structure for conducting timely disclosure, and improvements to the organizational structure are deemed highly necessary. As such, TSE shall require the Company to submit a report containing the background of the issue and improvement measures.

DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc. and/or Tokyo Stock Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.

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