ST. PETER PORT, Guernsey, November 28, 2018
ST. PETER PORT, Guernsey, November 28, 2018 /PRNewswire/ --
Prospect Co., Ltd. (the "Company") hereby inform that the following investigation is being conducted by the Special Investigation Committee, as announced on November 20, 2018, "Notice on the Establishment of a Special Investigation Committee and Appointment of the Committee Members" (the "November 20 Notice")
Investigation is being conducted by the Special Investigation Committee, which was established in relation to a tax expense error of a specific overseas project in the previous fiscal years, and consists of third-party experts without interests in the Company, as announced in the "November 20 Notice".
Furthermore, as part of the investigation announced in the "November 20 Notice", under "1. Purpose for establishing the Special Investigation Committee, 2) Verification of other overseas projects", and an external request after establishing the committee, the Special Investigation Committee will begin to conduct a specialized and objective investigation on the accounting procedure (announced on November 10, 2017) regarding the Prospect Japan Fund Limited becoming a wholly owned subsidiary in the second quarter of the fiscal year ending March 2018.
The Company will cooperate fully with the investigation by the Special Investigation Committee. In addition, the Company will promptly disclose the findings of the Special Investigation Committee.
The Company expresses its sincerest apologies to its shareholders, investors and all other stakeholders for any concern or inconvenience caused.
Company Name: Prospect Company Limited
Representative: President and CEO Curtis Freeze
(Security Code: 3528 TSE 2nd Section)
Contact: Representative Director Masato Tabata