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4-Traders Homepage  >  Equities  >  Tokyo  >  Dentsu Inc    4324   JP3551520004

DENTSU INC (4324)
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Dentsu : Concerning Court Ruling on Dentsu Inc.'s Labor Standards Violation in Japan

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10/06/2017 | 10:10am CET

The Tokyo Summary Court today handed down a 500,000 yen fine as penalty for the Company's violation of Japan's Labor Standards Law. We take this ruling very seriously, and extend our deepest apologies to stakeholders and the general public for the concern we have caused. As a member of society, we deeply regret that we could not fulfill our responsibilities.

In November 2016, Dentsu Inc. established the Working Environment Reforms Commission with the president & CEO as director, and undertook a thorough review of laws and regulations, committed to the eradication of excessive overtime work and initiated the fundamental reform of our working environment throughout the Company in Japan. We will continue to make every effort to steadily implement these reforms in our determination to restore public confidence in the Company.

To clarify again that the Company has taken responsibility for violation of the Labor Standards Law, the following three officers have been disciplined:

・Toshihiro Yamamoto: Representative Director and President & CEO
Reduction of 20% monthly compensation for six months
・Shoichi Nakamoto: Representative Director and Senior Executive Vice President & CFO
Reduction of 20% of monthly compensation for three months
・Yoshio Takada: Representative Director and Executive Vice President
Reduction of 20% of monthly compensation for three months

As for the disciplinary action taken internally concerning a series of labor issues, the measures have been carried out as shown in the attached sheet.

#####

Dentsu Inc. published this content on 06 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 October 2017 08:09:05 UTC.

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Financials ( JPY)
Sales 2017 923 B
EBIT 2017 -
Net income 2017 83 916 M
Debt 2017 115 B
Yield 2017 1,79%
P/E ratio 2017 16,89
P/E ratio 2018 15,47
EV / Sales 2017 1,67x
EV / Sales 2018 1,52x
Capitalization 1 431 B
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Number of Analysts 14
Average target price 5 520  JPY
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Toshihiro Yamamoto President & Chief Executive Officer
Tadashi Ishii Chairman
Shoichi Nakamoto CFO, Representative Director & EVP
Timothy P. Andree Director & Executive Vice President
Kenichi Kato Director & Auditor
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