CyberAgent ( (JP:4751) ) just unveiled an update.
CyberAgent, Inc. has announced the receipt of an investigation report from its Internal Investigation Committee regarding inappropriate accounting practices at its subsidiary, CyberOwl. The investigation revealed that a director at CyberOwl had been falsifying sales estimates since 2020, impacting the company’s financial statements. CyberAgent plans to submit correction reports for past securities and financial results, acknowledging the inadequacy of its management and auditing systems. The investigation found no similar issues at other subsidiaries, and the financial impact on CyberAgent’s consolidated statements was relatively minor, with a maximum effect of 0.2% on net sales and 4.2% on operating income in recent years.
More about CyberAgent
CyberAgent, Inc. operates in the digital marketing and internet services industry, providing a range of services including affiliate marketing through its subsidiary CyberOwl. The company focuses on performance-based commissions and has a significant presence in the digital advertising market.
YTD Price Performance: 7.01%
Average Trading Volume: 2,735
Technical Sentiment Signal: Hold
Current Market Cap: $3.82B
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