Outsourcing Inc. (2427:TYO), which ranks among the largest global staffing providers, postponed the release date for its third-quarter results citing suspicion of inappropriate accounting.

The suspicious accounting was in the Tokyo-based firm’s Outsourcing Technology subsidiary.

“We are currently conducting an intensive investigation of these suspicions of inappropriate accounting, including their specifics and the impacted amounts, and have decided to postpone the announcement of consolidated financial results for the third quarter of the fiscal year ending December 2021 which had been scheduled for Monday, November 15, 2021,” Outsourcing announced.

An investigation has already begun. The concerns were uncovered at enable Inc., a division of Outsourcing Technology. Those concerns include the possible overstatement of work in process, which could have an impact of several hundred million yen on Outsourcing’s third-quarter statements. In addition, the investigation is looking at past years, which are also expected to have an impact of several hundred million yen.

A new release date for third-quarter earnings is to be announced. The incident is not expected to have a major impact on the current fiscal year’s financial results. It did, however, have a significant impact on the company’s share price which has declined by 25% to JPY 1,592 (USD 13.95) as of this morning from JPY 2,115 (USD 18.54) on 5 November when the delay was first announced.