Yohei Konaka (Konica Minolta Australia)
Konica Minolta Australia has been prosecuted by the Australian Securities and Investments Commission (ASIC) for failing to lodge two financial reports.
According to ASIC, the action applied to financial reports between 2017 and 2019. Konica Minolta was one of 10 companies to be prosecuted by the corporate regulator for failing to comply with obligations to lodge financial reports during a six-month investigation starting in January.
"Konica Minolta is committed to compliance with all its legal obligations, and has procedures in place to ensure that all documents are lodged with the ASIC in a timely manner," a spokesperson from the vendor said. "No conviction has been recorded against Konica Minolta with respect to the lodgement of its financial statements for the years 2017-2019 and Konica Minolta has lodged its financial report for the financial years ending 31 March 2020 and 2021 with ASIC within time and in accordance with the requirements of the Corporations Act."
Under the Corporations Act, all disclosing entities, public companies, large proprietary companies and registered schemes are required to prepare financial reports each financial year.
The act also compels all companies and registered schemes to prepare financial reports each financial year and prepare financial reports each half-year.
Compared to the other 10 companies, Konica Minolta got off relatively lightly, with other entities, including Vocational Education, Training and Employment Australia and Wolf Petroleum being fined $13,500 and $12,000 respectively.
The prosecution comes several months after Konica Minolta transitioned its leadership with Yohei Konaka taking over the helm from David Cooke.
The former chairman and managing director Cooke had extended his tenure during the COVID-19 pandemic, after having announced his intention to step down in April 2020.
