September 7, 2022
Notice Regarding the Arrest of a Former Employee of a Domestic Consolidated Subsidiary
GLORY LTD. (the “Company”) announces that today, on September 7, 2022, a former employee (dismissed on disciplinary grounds as of March 11, 2022) of GLORY Service Co., Ltd., a domestic consolidated subsidiary of the Company, was arrested by the Osaka Prefectural Police on suspicion of embezzlement.
The Company consulted with the investigation authorities immediately after the discovery of the embezzlement and the details of the case are still under investigation by the authorities, to which the Company promises full cooperation. The facts identified by the Company's internal investigation committee were disclosed in the investigation report (the “Report”) on March 14, 2022.
The Company takes the occurrence of such misconduct and apologizes once again to all stakeholders for any inconvenience this may have caused. We continue to strengthen the governance structure and internal controls across the Company group with the implementation of preventive measures and initiatives formulated from the proposals made in the Report.
About GLORY LTD.
GLORY LTD., headquartered in Himeji, Japan, is a pioneer in the development and manufacture of cash handling machines and systems. GLORY provides a variety of products built on its leading-edge recognition/identification and mechatronics technology, such as cash handling machines, cash management systems, vending machines and automatic service equipment. Committed to meet society’s wide-ranging needs, GLORY serves the financial, retail, vending machine, amusement and gaming industries in more than 100 countries. For more information about GLORY, please visit GLORY Group website at https://corporate.glory-global.com/.
- GLORY LTD.
- Corporate Communications Dept.
Management Strategy Headquarters
Information in this document is current on the date of the announcement and subject to change without prior notice.