Japan's Kanebo company cooking the books five years the stock market may face delisting incident

According to Japan, done by means of a loss of 5 years of account. The company on Wednesday announced the news.

Kanebo Company of Japan (Kanebo) officials told reporters that the company Kanebo fiscal year ending in 2003, a total period of 5 years was 215 billion yen of inflated income. Kanebo Company of Japan (Kanebo) President Akiyoshi Nakajima said at a news conference, former head of the company will hold the legal responsibility.

Kanebo Company will Kanto Finance Bureau (Kanto Local Finance Bureau) to submit revised financial statements. It may be canceled at the Tokyo Stock Exchange's listing qualifications.

company headquarters in Japan Kanebo
Japan's Industrial Revitalization (Industrial Revitalization Corp.) responsible for Kanebo reorganization. It sent a letter to the Tokyo Stock Exchange, asked the latter not to abolish Kanebo's listing. It requires the latter taking into account the former Kanebo executives of the company voluntary accounting fraud investigation, reveal information to investors.

head of the Industrial Revitalization Corporation of Japan Ryutaro Katayama news conference on Wednesday revealed that,mac makeup, even if Kanebo was delisted from the Tokyo Stock Exchange, the Industrial Revitalization Corporation will continue to support Jana Po regeneration.

Tokyo Stock Exchange, a senior official said, in the revised audited financial report, the Exchange will make a decision.

October 2002 under the revised rules of the Tokyo Stock Exchange for two consecutive fiscal year with negative net worth of the company will be delisted.

survey, as of 5 years in fiscal 2003, Kanebo is a net loss each year. Moreover, since 1995,mac makeup wholesale, which for 9 consecutive years of negative net worth.

2002 fiscal year, Kanebo a net loss of 218 billion yen and net profit compared to the initial report of 500 million yen; to March 2000, Kerry Na Po's liabilities exceed assets, 153.8 billion yen,mac brushes, far exceeding the previously reported 116 billion yen.
Note: According to the Japanese company's Web site information Kanebo, Kanebo Founded in 1887, is headquartered in Tokyo, Japan, the registered capital of 251 billion yen Yuan,vibram 5 fingers, production and sales, including cosmetics, pharmaceuticals, chemical products, including consumer goods and fashion in New York, Paris, Shanghai, Hong Kong and has offices in Sao Paulo, Brazil.