Receipt of the Special Investigation Committee’s Report on Improper Expense Claims by YKK AP Inc. Senior Management and Future Responses and Measures to Prevent Recurrence
September 29, 2026
YKK Corporation (Headquarters : Chiyoda-ku, Tokyo; President and Representative Director : Koichi Matsushima; hereinafter “YKK”) and its subsidiary YKK AP Inc. (Headquarters : Chiyoda-ku, Tokyo; President and Representative Director : Akira Uozu; hereinafter “YKK AP”) established an independent Special Investigation Committee on May 22, 2026, composed solely of external experts and chaired by attorney Makoto Shirai of Kowa Sohgoh Law Offices. The committee was established to clarify the facts, analyze the causes, and recommend measures to prevent recurrence in connection with suspected improper processing of entertainment and other expenses by multiple members of YKK AP’s senior management.
We have been notified that the committee has completed its investigation and have received its investigation report dated August 21, 2026. We hereby announce the report’s findings, together with the future responses and recurrence prevention measures to be implemented by the YKK Group.
We sincerely apologize once again for the significant inconvenience and concern caused to our customers, business partners, shareholders, and all other stakeholders.
【Overview of the Investigation by the Special Investigation Committee】
- Investigation period : Five-year period from April 1, 2021 to April 30, 2026
- Investigation methods : Detailed review of relevant materials and accounting data led by external experts, including attorneys and certified public accountants; interviews with relevant parties, including senior management and employees; digital forensic investigations; questionnaire surveys; and establishment of an information reporting channel
- Interviewees and number of interviews : 44 individuals; 91 interviews in total
- Questionnaire survey targets : 228 current and former senior management personnel of YKK AP and its group companies
【Summary of Investigation Results and Established Facts】
As a result of the Special Investigation Committee’s investigation, improper expense claims in violation of company rules and related misconduct were confirmed, including false entries in management information and bad-faith coordination in connection with the investigation.
- Cases recognized as improper expense claims : 402 cases, totaling approximately ¥133 million
*For details, please refer to the Investigation Report.
【Involvement of Relevant Officers and Employees, and Future Responses and Disciplinary Action】
The following summarizes the disciplinary action and other responses concerning the individuals who led or carried out the improper expense claims in this matter.
- Regarding the three former directors referred to in the previous notice dated May 22 :
The three individuals—Mr. Hidemitsu Hori, former Chairman and Representative Director of YKK AP and former Director of YKK; Mr. Hiroshi Abe, former Executive Vice President and Director of YKK AP; and Mr. Koichi Ebihara, former Executive Vice President and Director of YKK AP—stepped down as directors at the annual general meetings of shareholders of both companies held in June 2026 and have stepped down from all positions within the YKK Group. - Regarding other senior management personnel :
Mr. Shinichiro Yamaji, former Vice Chairman and Director of YKK AP, retired as Vice Chairman and Director effective August 31, 2026.
With respect to other senior management personnel, disciplinary measures will be taken in sequence in accordance with internal regulations.
In addition, we will move forward with seeking reimbursement of the improperly claimed expenses.
【Recurrence Prevention Measures】 *Please refer to the Investigation Report for the committee’s recommendations.
We take the recommendations of the Special Investigation Committee with the utmost seriousness and will implement the following recurrence prevention measures to strengthen governance.
Across the YKK Group, we will strengthen the group-wide management control structure, including by having Hiroaki Otani, Chairman and Representative Director of YKK, concurrently serve as Chairman of the Board of Directors of YKK AP. At YKK AP, we will improve corporate culture through organizational and mindset reform led by senior management and next-generation leaders, together with company-wide dialogue based on these initiatives. We will also strengthen checks on senior management by limiting approval authority and providing training for approvers, and will review the proper approach to business entertainment by revising rules governing entertainment and internal dining.
【Responsibility of Current Management】
Taking extremely seriously the fact that this situation was allowed to occur, and to demonstrate their determination to exercise self-discipline as directors and take the lead in company-wide reform and improvement initiatives, members of YKK AP’s management team, including President and Representative Director Akira Uozu, Executive Vice President and Representative Director Kosuke Iwabuchi, and Director Hiroaki Otani, will voluntarily forgo a portion of their officers’ remuneration.
The entire company will work together to make every effort to restore trust.
- *1Notice Regarding Partial Changes to Director Candidates at YKK Corporation and YKK AP Inc. and Establishment of a Special Investigation Committee (May 22, 2026)
- *2YKK AP Inc. Organizational and Personnel Changes (September 29, 2026)