FINWIRES · TerminalLIVE
FINWIRES

Tokai Rika Postpones Fiscal Year 2026 Results Release Due to Correct Tax Error

By

Automotive parts maker Tokai Rika (TYO:6995) said it has decided to postpone its consolidated financial results announcement for the fiscal year 2026, originally scheduled for April 24, according to a Tokyo bourse filing on Monday.

The delay follows the discovery of an accounting error in the tax treatment of defined benefit obligations from prior fiscal years, which led to overstated deferred tax assets as of March 31, 2025.

To correct the issue, the company must revise consolidated and non-consolidated financial statements for fiscal years 2019 through 2025, though the impact on the current fiscal year's results is expected to be immaterial.

Related Articles

Asia

Hollwin Urban to Buy Smart City Firm for 50 Million Yuan

Hollwin Urban Operation Service (HKG:2529) agreed to acquire a smart city technology firm for 49.5 million yuan, according to an April 17 Hong Kong bourse filing.Shares of the urban service and operation provider were up nearly 2% in Monday morning trade.The company will purchase the entire equity interest in Hunan Liwei Zhongtian Technology Development from its controlling shareholder, Changsha Urban Development Group, and five individual shareholders.The target provides intelligent systems engineering, smart city construction, and software development services.The consideration will be paid in cash in stages, with 70% due at completion and the remainder subject to profit and receivables recovery targets over three years.Hollwin said the acquisition will strengthen its smart city capabilities and support its expansion into technology-driven urban services.

HKG:2529
Asia

Poly Developments and Holdings 2025 Profit Down 79%, Revenue Slips 1%

Poly Developments and Holdings (SHA:600048) posted 2025 attributable net profit of 1.03 billion yuan, down 79% from 5.00 billion yuan the previous year.Earnings per share fell to 0.54 yuan from 2.53 yuan, according to a filing with the Shanghai bourse.Operating revenue slipped 1.1% year over year to 308.1 billion yuan from 311.7 billion yuan.Shares of the property developer were up 2% in recent trade.

SHA:600048
Asia

Sunshine Metals Says Grade Control Drilling at Proposed Open Pit at Queensland Project Returns Shallow, High-Grade Results; Shares Jump 10%

Sunshine Metals (ASX:SHN) said the grade control drilling program within the proposed Liontown open pit, part of its Ravenswood consolidated project in Queensland, returned shallow, high-grade results, according to a Monday Australian bourse filing.The company encountered intercepts of 7 meters at 5.9 grams per tonne (g/t) grade of gold from surface and 3 meters at 25 g/t grade of gold from 14 meters.It also hit an intercept of 14 meters at 12.4 g/t grade of gold from 79 meters during resource drilling at the Liontown Au Panel, a gold-dominant deposit to form part of the proposed underground mine within the recent mining study.An updated Liontown resource is due in the June quarter, per the filing.Sunshine Metals shares jumped 10% in recent trading on Monday.

ASX:SHN