On Mar. 14, 2025, JPN FSA issued an order requiring Gala Inc. to pay a penalty surcharge of JPY 64.95mn for false statements by May 14, 2025 to National Treasury.
On Jan. 28, JPN SESC recommended fine imposition against Gala Inc.
JPN SESC recommended the imposition of penalty surcharge against Gala Inc.
Findings
The company engaged in improper accounting practices, by overstating software development costs as provisional accounts for software and software assets.
Then, submitted a securities report containing a false statement on important matters under article 172-4 paragraph 1 of the Financial instruments and exchange act (FIEA).
Next Steps
Recommended JPY 64.95mn penalty surcharge to Prime Minister, FSA commissioner.
Mar. 2025 JPN FSA Penalty Surcharge
On Mar. 14, 2025, JPN FSA issued an order requiring Gala Inc. to pay a penalty surcharge of JPY 64.95mn for false statements by May 14, 2025 to National Treasury.
