H.I.S. (HIS) announced that the Employment Adjustment Subsidy received by its subsidiary Tour Wave was judged to have been improperly received by the Miyagi Labour Bureau in Japan.
A special investigative committee reported “improper receipt” in March, and the Miyagi Labour Bureau’s investigation found that work had been performed on some designated special closure days. The repayment amount, including penalties and delinquency charges, is 184,062,660 yen. The company received the decision to cancel the payment and the repayment notice dated August 14, and repaid the amount on September 1.
At a meeting of the Board of Directors, it resolved a disciplinary measure cutting the monthly compensation of Tour Wave’s President and Representative Director, Atsushi Eguchi, by 30% for three months. It stated that the involvement of officers, including the president of the subsidiary, was not recognized.
HIS said the impact on its consolidated results is minor, although Labour Bureau investigations into some consolidated subsidiaries are ongoing.
