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Fukoku Co., Ltd. ( (JP:5185) ) just unveiled an announcement.
Fukoku Co., Ltd. has identified significant deficiencies in its internal controls related to financial reporting, particularly concerning its subsidiary, Shanghai Fukoku Rubber & Plastics Industry Co., Ltd. An investigation revealed embezzlement by an employee, highlighting weaknesses in governance, risk management, and internal audit procedures. These deficiencies have raised concerns about the integrity of the company’s financial reporting and necessitated the disclosure of these issues to stakeholders.
More about Fukoku Co., Ltd.
Fukoku Co., Ltd. operates in the manufacturing industry, primarily focusing on rubber and plastic products. The company is listed on the Tokyo Stock Exchange and has a market focus that includes both domestic and international operations.
Average Trading Volume: 36,917
Technical Sentiment Signal: Buy
Current Market Cap: Yen27.25B
For a thorough assessment of 5185 stock, go to TipRanks’ Stock Analysis page.