H.I.S. has revealed that there may have been improper receipt of part of the employment adjustment subsidies.
Following suspicions of improper receipt of employment adjustment subsidies by Number One Travel Shibuya, a consolidated subsidiary, an investigation and analysis were conducted across the group by Anderson Mori & Tomotsune Law Office.
Between April 2020 and March 2023, H.I.S. and its consolidated subsidiaries received approximately 28.4 billion yen in employment adjustment subsidies, with H.I.S. receiving about 24 billion yen and its 24 consolidated subsidiaries receiving about 4.4 billion yen.
A special investigation committee consisting of external experts was established on December 13th. The committee is tasked with analyzing the cause, including an examination of any governance issues across the group, and proposing measures to prevent recurrence. The investigation report will be published with measures such as non-disclosure for privacy considerations. The announcement of the postponed financial results for the October 2024 term is currently undetermined.
