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V-Cube Sets Up Special Investigation Committee over Advisory Fee Payments

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V-cube (TYO:3681) is setting up a special investigation committee to probe advisory fee payments linked to its former subsidiary TEN Holdings and related internal control issues, according to a Friday filing on the Tokyo Stock Exchange.

The move follows the discovery that former representative director Naoaki Mashita issued a letter committing financial support to TEN without board approval, alongside findings that contracting and payment counterparties for advisory services differed.

The committee, made up of independent external experts including lawyers and certified public accountants, will examine the facts, check for similar cases, and recommend measures to prevent recurrence.

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