Notice of Employment Adjustment Subsidy, Etc., Received by H.I.S. and consolidated subsidiaries [Supplementary Material]
2025-01-27
Other
(Appendix 1) Overview
| H.I.S. Co., Ltd. | NUMBER ONE TRAVEL SHIBUYA Co.,Ltd. |
Other consolidated subsidiaries |
|
|---|---|---|---|
| Amount of Employment Adjustment Subsidy, etc. received |
Approx. 24.26 billion yen (24,264,604,400 yen) includes seconded employees |
Approx. 110 million yen (109,709,914 yen) |
Approx. 4.29 billion yen |
| Amount to be repaid | Approx. 6.26 billion yen (6,256,471,047 yen) |
Approx. 130 million yen Total amount received + fine (131,651,896 yen) additional late fee (3% per year) |
Being investigated |
(Appendix 2) Course of Events: H.I.S. Co., Ltd. (hereinafter referred to as "the Company")
| Late April 2024 | Accounting auditor was provided information on the Company's Employment Adjustment Subsidy. Accounting auditor informed the Company that it had provided information. Initial investigation team was formed within the Company, and a voluntary investigation was launched (conducted through mid-June). |
| Late June 2024 | The Company proposed to the Tokyo Labour Bureau that it would repay the portion of the received subsidy for which it determined there was an error on the application. |
| Early September 2024 | The law firm Anderson Mori & Tomotsune was commissioned to verify the data. (purpose: acquire and examine data used to calculate the amount to be repaid) |
| Mid-November 2024 | Accounting auditor requested that the Company check whether similar incidents had occurred at its consolidated subsidiaries. |
| Mid-November 2024 | Attorney at Anderson Mori & Tomotsune and certified public accountant at KPMG FAS Co.,Ltd.were commissioned to conduct an investigation (purpose: to ensure the reliability of the investigation). |
| December 13, 2024 | A special investigation committee was formed to ensure expertise and objectivity. The committee was commissioned to investigate the whole Group, analyze causes for the incident, and propose preventive measures. |
| Late December 2024 | The Company's opinion was submitted to the Tokyo Labour Bureau. |
| January 22, 2025 | The Company received a Notification of Cancellation of Employment Adjustment Subsidy Payment Decision and Request for Repayment from the Tokyo Labour Bureau. |
| January 27, 2025 | The Company's Board of Directors resolved to voluntarily repay the subsidy. |
(Appendix 3)
(Appendix 4) Course of Events: NUMBER ONE TRAVEL SHIBUYA Co.,Ltd.
| Early April 2024 | NUMBER ONE TRAVEL SHIBUYA Co.,Ltd. received a request from the Tokyo Labour Bureau to submit relevant documents. (thereafter, response when necessary) |
| Late July 2024 | NUMBER ONE TRAVEL SHIBUYA CO., LTD. submitted response to the Labor Bureau. |
| Early November 2024 | The Company confirmed that there were discrepancies between information NUMBER ONE TRAVEL SHIBUYA CO., LTD. provided on the subsidy application and actual work through interviews with the NUMBER ONE TRAVEL SHIBUYA CO., LTD. management team. |
| Early November 2024 | The Company reported the course of events to the accounting auditor. |
| Late November 2024 | The response reviewed by an attorney at Anderson Mori & Tomotsune was submitted to the Tokyo Labour Bureau. |
| December 13, 2024 | The Company's Compensation Committee decided to reduce compensation for the NUMBER ONE TRAVEL SHIBUYA CO., LTD.'s management team. |
| December 26, 2024 | NUMBER ONE TRAVEL SHIBUYA CO., LTD. Representative Director and President resigned in response to request for his resignation from the Company. |
| January 27, 2025 | NUMBER ONE TRAVEL SHIBUYA CO., LTD. received a Notification of Cancellation of Employment Adjustment Subsidy Payment Decision and Request for Repayment from the Tokyo Labour Bureau. NUMBER ONE TRAVEL SHIBUYA CO., LTD.'s Board of Directors resolved to promptly repay the subsidy. |
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.