Shoko Receives Report from Special Examination Committee

Apr 17, 2017 15:30 JST

Source: Showa Denko K.K.

TOKYO, Apr 17, 2017 - (ACN Newswire) - Showa Denko ("SDK"; TSE:4004) announces that its consolidated subsidiary Shoko Co., Ltd. (Shoko) today disclosed the outline of a report from its Special Examination Committee on the results of examination and Shoko's policy for dealing with the issue.

As stated in our news release of March 27, 2017 entitled "SDK to Apply for Extension of Deadline for Annual Securities Report," Shoko established the Special Examination Committee to examine transactions by one of its subsidiaries with a specific customer. (The name of the relevant subsidiary is BE International Corporation.) The Special Examination Committee, including outside experts, has continued examination of the issue with the assistance of a law firm and a professional research company.

SDK has been closely cooperating with KPMG AZSA LLC, the accounting auditor for both SDK and Shoko, and sharing the results of examination in a timely and appropriate manner. To submit its annual securities report for the 108th business term (from January 1 to December 31, 2016) by the extended deadline of Monday, May 1, 2017, SDK is undergoing audit by the accounting auditor.

In addition, SDK is considering amendment of prior-year annual securities report and financial statements. The scope and contents of such amendment will be decided after scrutiny of the contents of the results of examination and after discussions with Shoko and KPMG AZSA LLC. Even when amendment of prior-year documents is made, SDK will be able to meet the deadline of May 1, 2017. As for the date for announcing the financial results for 2016, SDK will announce the date as soon as it is fixed.

We sincerely apologize for any inconvenience caused to our shareholders, investors, business partners and other parties concerned. We will fully cooperate with Shoko in devising and implementing specific measures to prevent recurrence as quickly as possible, with a view to regaining the confidence. Your understanding and support will be highly appreciated.

Contact:

Public Relations Office
Phone: 81-3-5470-3235

Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem

Related Press Release

Showa Denko Announces 2022 2Q Consolidated Financial Results

August 04 2022 14:00 JST

Showa Denko Revises Forecast of Consolidated Performance

August 03 2022 14:00 JST

Showa Denko Concludes MOU with SK Inc. to Give Consideration to a Plan to Cooperatively Produce High-Purity Gases for Semiconductors in North America

June 29 2022 12:00 JST

SDK and Microwave Chemical Start Joint Development of New Microwave-based Chemical Recycling Technology to Directly Transform Used Plastic into Basic Chemical Feedstock

June 28 2022 10:30 JST

Showa Denko Announces Record Date for Extraordinary Shareholders' Meeting

May 26 2022 14:00 JST

Showa Denko to Consider Simplified Absorption-type Company Split

May 26 2022 14:00 JST

Showa Denko Starts Shipment of Newly Developed HD Media for Record-breaking 26TB Near-line HDD

May 26 2022 11:00 JST

Showa Denko's Program for 8-inch SiC Wafers for the Next-generation Green Power Semiconductor selected for NEDO's Green Innovation Fund Projects

May 24 2022 17:00 JST

Showa Denko Announces 2022 First Quarter Financial Results

May 11 2022 14:00 JST

Showa Denko Decides to Raise Chloroprene Rubber Price

April 27 2022 10:30 JST

More Press release >>

Latest Press Release

TOPVISION Launches Prospectus for Listing Transfer from LEAP to the ACE Market
Nov 27, 2024 05:53 JST

TOYOTA GAZOO Racing FULLY PREPARED FOR DAKAR 2025
Nov 26, 2024 17:55 JST

Eisai Signs Research Collaboration Agreement with The National Center of Neurology and Psychiatry to Initiate Apolipoprotein E Genetic Testing in the "AD-DMT Registry" in Japan
Nov 26, 2024 15:50 JST

Fujitsu develops Policy Twin, a new digital twin technology to maximize effectiveness of local government policies for solving societal issues
Nov 26, 2024 10:51 JST

TOYOTA GAZOO Racing reinforces WRC line-up with youth and experience for 2025
Nov 25, 2024 17:10 JST

Toyota Submits Progress Report on Recurrence Prevention Measures
Nov 25, 2024 15:43 JST

TOPVISION Launches Prospectus for Transfer Listing from LEAP to the ACE Market
Nov 25, 2024 15:00 JST

MHI Thermal Systems Receives Order from Aisan Industry for Aquifer Thermal Energy Storage System for Its New Anjo Plant
Nov 25, 2024 14:18 JST

Oracle Red Bull Racing Driver Max Verstappen Wins Fourth Consecutive F1 Drivers' World Championship
Nov 25, 2024 11:55 JST

Kaplan Fox & Kilsheimer LLP Alerts Investors to a Securities Class Action Against Humacyte, Inc. (HUMA) - Deadline is January 17, 2025
Nov 22, 2024 11:00 JST

NaaS Q3 2024 Recap: Strategic Shifts and Tech Innovations for Growth
Nov 21, 2024 22:59 JST

Honda Unveils Demonstration Production Line for All-Solid-State Batteries Located in Sakura City, Tochigi Prefecture, Japan
Nov 21, 2024 15:35 JST

Deadline to Lead in Securities Fraud Lawsuit Against Humacyte, Inc. (HUMA) is January 17, 2025 - Contact Kaplan Fox & Kilsheimer LLP
Nov 21, 2024 09:00 JST

ALL Study Groups Using DehydraTECH Processing Outperform Rybelsus(R) in Body Weight Control in Lexaria's 12-Week GLP-1, Diabetes Animal Study
Nov 20, 2024 23:05 JST

Start of Demonstration Test of Two-Phase Direct-to-Chip Cooling in the Air-Cooled Data Center
Nov 20, 2024 15:30 JST

Rozebalamin for Injection 25mg (Mecobalamin) for Amyotrophic Lateral Sclerosis Launched in Japan
Nov 20, 2024 11:51 JST

Anticancer Agent "TASFYGO Tablets 35mg" (Tasurgratinib Succinate) Launches in Japan for Biliary Tract Cancer with FGFR2 Gene Fusion or Rearrangements
Nov 20, 2024 10:24 JST

Kingsoft Announces 2024 Third Quarter Results
Nov 19, 2024 18:54 JST

NTT and Olympus Joint Demonstration Shows IOWN APN's Low-latency Capability Can Be Used for Real-time Diagnosis and Treatment on a Remote Server to Realize World's First Cloud Endoscopy System
Nov 19, 2024 15:30 JST

Supercomputer Fugaku retains first place worldwide in HPCG and Graph500 rankings
Nov 19, 2024 09:02 JST

More Latest Release >>