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Sharp might delay Q3 financials announcement

Sharp might delay Q3 financials announcement

February 5, 2021

In a notice, the company said that there is a possible postponement of the announcement of consolidated financial results for the third quarter ended 31 December 2020.

Sharp Corporation announced a possible postponement of its announcement of consolidated financial results for the third quarter ended 31 December 2020 due to the below.

The Company expressed its sincere apologies to all stakeholders including shareholders, investors, partners and all related members for causing concerns and inconveniences and gave the following reason:

As announced in its 25 December 2020 release “Notice of Improper Accounting Treatment at Sharp’s Consolidated Subsidiary and Establishment of Investigation Committee,” the Company acknowledges improper accounting treatment occurred at its consolidated subsidiary, Kantatsu Co. Ltd., and established an investigation committee consisted by members including outer lawyers and certified public accountants etc. to confirm the facts.

While the Company is fully cooperating with the investigation committee, a certain amount of time is required to determine its impact to the Company’s financial results together with confirming that similar issues do not exist at other subsidiaries within the Company’s group.

Therefore, there is a possibility that the consolidated financial results for the third quarter ended 31 December 2020 that was scheduled to be announced by 15 February 2021 may be postponed.

Sharp confirmed that the new release date will be set based on the investigation report and will be announced immediately once decided. In case the announcement of financial results is postponed, the Company will submit an application for approval of extension of the deadline for submission of securities report to the Director-General of the Kanto Local Finance Bureau (extension of this submission requires the approval of the Director-General of the Kanto Local Finance Bureau).

Categories : City News

Tags : Business Financials OEM Sharp

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