3/17/2023
Dear Valued Clients and Stakeholders,
We extend our warmest greetings and hope this message finds you well. We sincerely appreciate your continued support and patronage.
Recently, the CPAAOB has issued an administrative disposition against us to the Financial Services Agency (FSA). This recommendation was made in response to the results of an inspection conducted by the CPAAOB.
We sincerely apologize for the inconvenience caused to our clients and stakeholders.
We will conduct a fundamental review of our quality control system, including strengthening our personnel structure, and ensure implementation of the self-improvement plan that we have developed and are promoting from the beginning of the inspection. We will also provide regular updates on our improvement efforts to the FSA, our supervisory authority.
We take the recommendation seriously, and we remain committed to fulfilling our social responsibility as an audit firm and will continue to strive for continuous improvement in audit quality.
We thank you for your understanding and continued support.
Sincerely,
Tsutomu IKEDA