Report on the Collapse of the Whistleblowing System and False Statements in Financial Reporting
(Target: Infroneer Holdings Corporation and Maeda Corporation)
Date/Time: May 21, 2025, 7:16
From: Shunsuke Kimura shukku9998@gmail.com
To: MUFG-accounting-audit-hotline@hokusei-law.com
In Infroneer Holdings Corporation, which is regarded as a primary borrower and business partner of Mitsubishi UFJ Financial Group, and its subsidiary Maeda Corporation, the following serious control deficiencies and systemic collapse have been identified:
- From fiscal years 2022 to 2024, due to unreported and falsified reports of labor accidents, costs that should have been recorded were continuously excluded from the financial statements.
- In response to system-based whistleblowing reports, the companies refused to provide any answers.
- The dismissal reason letter explicitly stated the โcontent of the whistleblowing,โ which constitutes retaliation.
These issues represent serious risks in light of auditing firm guidelines, the spirit of the Financial Instruments and Exchange Act, as well as MUFG Groupโs ESG and internal control policies.
โป Detailed materials related to this report (audio recordings, dismissal notices, administrative report records, etc.) are currently being organized on the dedicated disclosure page below:
https://sites.google.com/view/report20250601/ใใผใ
The site only contains summaries and representative evidence, but if necessary, I can provide the full set of detailed evidence (PDF format, transcripts of audio recordings, etc.) separately.
Accordingly, I respectfully request appropriate review and internal reporting for the purposes of reliability assessment of this matter and determination on whether continuation of financing to the group is appropriate.
Shunsuke Kimura
Whistleblower / Internal Reporting System User
๐ OECD/UNCAC Legal Reference
- OECD Guidelines for Multinational Enterprises
- Chapter II (General Policies): Enterprises must maintain effective internal controls, compliance, and ethical systems.
- Chapter III (Disclosure): Enterprises should ensure accuracy and reliability of financial reporting.
- Chapter IV (Human Rights): Retaliation against whistleblowers may constitute an adverse human rights impact.
- OECD Anti-Bribery Recommendation (2009)
- Annex II: Calls for internal reporting mechanisms with integrity and confidentiality.
- UNCAC Article 33
- Encourages protection against unjustified treatment for whistleblowers who report in good faith.
