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An announcement from KDDI ( (JP:9433) ) is now available.
KDDI has uncovered suspected inappropriate transactions within the advertising agency business of its consolidated subsidiaries BIGLOBE and G-PLAN, including potential overstatement of revenue and related figures, following delayed payments from certain advertising agencies and indications from its accounting auditor. In response, the board has set up an independent Special Investigation Committee made up of external lawyers and a certified public accountant to clarify the facts, assess any impact on consolidated financial statements, search for similar issues, and recommend measures to prevent recurrence, with KDDI pledging full cooperation and promising to disclose both the financial impact and the committee’s findings once confirmed.
The most recent analyst rating on (JP:9433) stock is a Buy with a Yen2983.00 price target. To see the full list of analyst forecasts on KDDI stock, see the JP:9433 Stock Forecast page.
More about KDDI
KDDI CORPORATION is a major Japanese telecommunications operator listed on the Tokyo Stock Exchange Prime Market (code 9433), providing mobile, fixed-line and internet services. Its group operations include digital and advertising-related businesses through consolidated subsidiaries such as BIGLOBE Inc. and its advertising agency arm, G-PLAN INC., supporting customer acquisition and marketing for its telecom and internet services.
Average Trading Volume: 8,168,183
Technical Sentiment Signal: Buy
Current Market Cap: Yen10137.3B
For an in-depth examination of 9433 stock, go to TipRanks’ Overview page.