Kushim Holdings Corp. postponed the release of its fiscal 2024 earnings report as it investigates potential information leaks and misconduct by one of its directors.
The Tokyo-based technology company said the delay stems from an ongoing internal probe into Director Hiroki Tahara, first disclosed on November 25. The investigation covers alleged unauthorized information disclosures and inappropriate conduct.
The firm needs additional time to verify several key financial matters, including the existence and valuation of its cryptocurrency assets and the legitimacy of certain expense claims. Kusim also needs to assess how findings from the internal investigation committee might impact its financial statements for the year ended October 2024.
The company hasn’t set a new date for the earnings announcement. The original release was scheduled for December 20.
This delay raises questions about Kusim’s internal controls and governance practices at a time when Japanese regulators are pushing for stricter corporate oversight, particularly in handling digital assets and executive conduct.
The news follows increased regulatory attention on cryptocurrency holdings by public companies in Japan, where authorities have tightened reporting requirements for digital assets.
