GNI Group corrects FY24 earnings report after audit review

GNI Group (TSE: 2160) announced a correction to its consolidated financial results for the fiscal year ending December 2024, initially released on February 14, 2025. The revision stems from further discussions with the company's accounting auditor, which revealed additional profits and related taxes at GNI USA, Inc., a wholly-owned subsidiary. Although the additional profit is offset in the consolidated financial statements, a tax effect was applied for the additional tax liability. Key changes include revisions to summary information like consolidated operating results and financial position (linked financial data: consolidated revenue and results). Specifically, FY24 revenue amounted to 23.61 billion yen, operating profit 1.4 billion yen, and profit before tax 238 million yen. Earnings per share also adjusted to 21.96 yen. The company noted the changes reflect the finalization of provisional accounting treatments related to business combinations.