Book Off Group Holdings, a major secondhand book retailer, has announced that it will postpone the announcement of its financial results for the fiscal year ending May this year, after discovering that employees at several stores may have made fictitious purchases.

According to an announcement by the Book Off Group, it has been discovered that employees at several stores operated by its subsidiaries may have illegally obtained cash by fictitiously purchasing used goods and improperly recording inventory.

As a result, the company will postpone the announcement of its financial results for the fiscal year ending May 2024, which was scheduled for the 16th of next month.

The Book Off Group has set up a special investigative committee made up of outside experts, including lawyers, to investigate the facts and financial impact of the incident and then propose measures to prevent a recurrence.

In addition, the company says it will be conducting emergency inventory at all stores both in Japan and overseas, which will result in some stores being temporarily closed.

The Book Off Group commented, “We sincerely apologize for the great inconvenience and concern caused to all those involved.”