June 4, 2025
Yasuo Sakamoto, Chairman
Overseas Communication and Broadcasting Consulting Cooperation
1. Overview
It has come to light that a former head of accounting (hereinafter, “Former Head”) at the Overseas Communication and Broadcasting Consulting Cooperation (hereinafter, “the Foundation”) engaged in fraudulent money transfers and falsification of supporting documents. The amount of the fraudulent transfers confirmed to date is approximately 130 million yen. We are currently preparing criminal charges and civil litigation with the advice of attorneys. The Foundation takes this situation very seriously and will thoroughly review its internal controls and management system to prevent recurrence and make every effort to restore trust.
2. Background
The Former Head was hospitalized due to illness on March 21, 2025, and subsequently died on April 4. While performing closing tasks, other staff members discovered that the balance statement from the bank for 2025 did not match the Foundation’s balance sheet. Upon obtaining past balance statements from the bank, it was discovered that the balance statements had been falsified, and some records of the Former Head’s unauthorized transfers to accounts in his own name were found. As of May 23, 2025, records of at least 130 million yen in unauthorized transfers over nine years, from February 2016 to February 2025, have been confirmed. The records for the remaining 20 million yen are currently being verified.
Although the Foundation had a multi-person approval system for payments, the Former Head was able to operate independently with regard to the transfer of funds from ordinary deposits to time deposits. The Former Head pretended to transfer funds to time deposits, but actually transferred them to his personal account, and created and stored falsified balance statements.
3. Foundation’s Response
(1) Recovery of Funds and Filing of Charges
• We are currently proceeding with legal procedures to recover the funds under the guidance of attorneys.
• We are preparing to file criminal charges with the police and civil litigation against this misconduct.
(2) Measures to Prevent Recurrence
① Strengthening of Accounting Operations and Management System
o Implementation of internal audits on a quarterly basis
o Introduction of a multi-person approval system for all transactions
o Mandatory monthly balance checks for each bank account
② Strengthening of the Checking System
o Strengthening external audits by contracting with accounting auditors and attorneys as advisors
o Conducting regular external audits to ensure the soundness of internal management
③ Improving Compliance
o Regularly conduct compliance training for Foundation staff
o Raising awareness of fraud prevention and ensuring transparency
4. To All Stakeholders
We deeply apologize for the great concern and inconvenience caused to all stakeholders by this matter.
The Foundation takes this misconduct very seriously and will strive in good faith to restore your trust by ensuring highly transparent operations and preventing recurrence.
