The Securities and Exchange Surveillance Commission said that an electronic equipment manufacturing company listed on the First Section of the Tokyo Stock Exchange and headquartered in Saitama Prefecture had repeated inappropriate accounting treatment and inflated profits by a total of about 5.9 billion yen. I advised the Financial Services Agency to order the payment of the surplus surcharge.

The target of the recommendation was "UMC Electronics", an electronic equipment manufacturing company headquartered in Ageo City, Saitama Prefecture.



According to the Securities and Exchange Surveillance Commission, the company was listed on the First Section of the Tokyo Stock Exchange for six years from 2014 to the end of the year, repeating inappropriate accounting treatments such as inflating sales of its Chinese subsidiary. The rest was that the securities report contained a lie.



The total amount of profits overstated in the settlement of accounts amounts to about 5.9 billion yen, and the Oversight Committee recommended to the Financial Services Agency to order a surcharge of more than 390 million yen based on the Financial Instruments and Exchange Act. ..



Regarding receiving the recommendation, UMC Electronics commented, "We apologize for the inconvenience caused to everyone involved. We will work together as a company to prevent recurrence." ..