{"id":1211,"date":"2026-08-20T13:37:29","date_gmt":"2026-08-20T04:37:29","guid":{"rendered":"https:\/\/minnanounion.info\/?p=1211"},"modified":"2026-08-30T15:09:37","modified_gmt":"2026-08-30T06:09:37","slug":"%e3%80%90%e3%83%a9%e3%82%b9%e3%83%88%e3%83%af%e3%83%b3%e3%83%9e%e3%82%a4%e3%83%ab%e5%8a%b4%e5%83%8d%e7%b5%84%e5%90%88%e3%80%91%e6%b8%a1%e8%be%ba%e8%aa%a0%e6%b0%8f%e3%81%ae%e6%9b%b8%e9%a1%9e%e9%80%81","status":"publish","type":"post","link":"https:\/\/minnanounion.info\/en\/archives\/1211","title":{"rendered":"[Last One Mile Labor Union] Board of Directors and Audit and Supervisory Committee Conceal Makoto Watanabe's Referral to Prosecutors"},"content":{"rendered":"<h2 class=\"wp-block-heading\">Are you not going to disclose that you solicited illegal investments from current employees and business partners using the creditworthiness of a listed company?<\/h2>\n\n\n\n<p>In the previous article, the Last One Mile Labor Union detailed the fact that Makoto Watanabe, Representative Director, Chairman, and CEO of Last One Mile Inc., was sent to the prosecutors on suspicion of violating the Financial Instruments and Exchange Act, and organized the structured bond trading of foreign stocks that was the subject of the case.<\/p>\n\n\n\n<p>The following article covers how Hiroshi Mako, who handled investment operations under Mr. Watanabe's direction; the financial instruments intermediary LG Asset Co., Ltd.; and the secretarial office of Last One Mile Co., Ltd. operated as a single command and control system.<\/p>\n\n\n\n<p>However, the core of the issue is not just Mr. Watanabe, Ms. Mako, or LG Asset.<\/p>\n\n\n\n<p>The biggest problem as a listed company is the Board of Directors and the Audit and Supervisory Committee of Last One Mile Co., Ltd.<\/p>\n\n\n\n<p>Among the people who received investment solicitations for this matter, a large number include current employees of Last One Mile Inc., the company's business partners, and other business associates.<\/p>\n\n\n\n<p>Mr. Watanabe did not simply recommend investments to acquaintances he happened to meet in his personal life. Fully utilizing his title as Representative Director, Chairman, and CEO of Last One Mile Inc., the social credibility of being the head of a company listed on the Tokyo Stock Exchange Growth market, his position over employees, and his business relationships with clients, he gathered funds as part of his duties for the investments he himself spearheaded.<\/p>\n\n\n\n<p>They attract investors using the company&#x27;s name and deposit the funds they raise into the CEO&#x27;s personal account. However, once criminal charges are filed, they dismiss the matter as &quot;a personal issue involving the CEO&quot; and shut down the company.<\/p>\n\n\n\n<p>Such selective usage cannot possibly be allowed.<\/p>\n\n\n\n<p>If the Board of Directors and the Audit and Supervisory Committee are aware of this matter yet fail to conduct an independent investigation or make timely disclosures, and offer no explanation to shareholders, employees, and business partners, the problem extends far beyond the referral of Mr. Watanabe's documents to prosecutors.<\/p>\n\n\n\n<p>It is a company-wide cover-up.<\/p>\n\n\n<div class=\"swell-block-postLink\">\t\t\t<a href=\"https:\/\/minnanounion.info\/en\/archives\/1206\" class=\"c-blogLink -internal\" data-style=\"slim\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<!-- <i class=\"c-blogLink__icon icon-link\" role=\"presentation\"><\/i> -->\n\t\t\t\t<span class=\"c-blogLink__icon\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"swl-svg-link __svg\" width=\"1em\" height=\"1em\" viewbox=\"0 0 48 48\" role=\"img\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M21.2 30.2c-.5 0-1-.2-1.4-.6l-.7-.7c-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l7.1-7.1c2.3-2.3 5.3-3.5 8.5-3.5s6.2 1.2 8.5 3.5c4.7 4.7 4.7 12.3 0 17l-3.5 3.5c-.8.8-2 .8-2.8 0-.8-.8-.8-2 0-2.8l3.5-3.5c3.1-3.1 3.1-8.2 0-11.3-1.5-1.5-3.5-2.3-5.7-2.3-2.1 0-4.2.8-5.7 2.3l-7.1 7.1c-1.5 1.5-2.3 3.5-2.3 5.7s.8 4.2 2.3 5.7l.7.7c.8.8.8 2 0 2.8-.4.3-.9.5-1.4.5z\" \/><path d=\"M13.4 46.6c-3.1 0-6.1-1.2-8.5-3.5-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l3.5-3.5c.8-.8 2-.8 2.8 0 .8.8.8 2 0 2.8l-3.5 3.5c-1.5 1.5-2.3 3.5-2.3 5.7 0 2.1.8 4.2 2.3 5.7 3.1 3.1 8.2 3.1 11.3 0l7.1-7.1c1.5-1.5 2.3-3.5 2.3-5.7 0-2.1-.8-4.2-2.3-5.7l-.7-.7c-.8-.8-.8-2 0-2.8.8-.8 2-.8 2.8 0l.7.7c2.3 2.3 3.5 5.3 3.5 8.5s-1.2 6.2-3.5 8.5l-7.1 7.1c-2.3 2.3-5.3 3.5-8.4 3.5z\" \/><\/svg>\t\t\t\t<\/span>\n\t\t\t\t<span class=\"c-blogLink__text\">[Last One Mile Labor Union] Papers sent to prosecutors = Makoto Watanabe member<\/span>\n\t\t\t<\/a>\n\t\t<\/div>\n\n\n<h2 class=\"wp-block-heading\">Makoto Watanabe used more than just structured bonds for solicitation; it was the trust of the last mile.<\/h2>\n\n\n\n<p>The structured bond solicited in this case was based on 10 million yen per unit, required the payment of a separate 1.5 million yen \"deposit,\" and promised principal protection with an annual interest rate of 30%.<\/p>\n\n\n\n<p>The reliability materials shown to investors are not limited to just the explanation of financial products.<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>Makoto Watanabe is the Representative Director of Last One Mile Inc., a company listed on the Tokyo Stock Exchange Growth Market.<\/li>\n\n\n\n<li>The target of the solicitation included multiple current employees under the command and control of Mr. Watanabe.<\/li>\n\n\n\n<li>It included many business partners and related parties that continued their business relationship with Last One Mile Inc.<\/li>\n\n\n\n<li>Hiroshi Mako, who was described as the head of Mr. Watanabe's secretariat and a former securities company employee, was in charge of the practical work.<\/li>\n\n\n\n<li>The fact that LG Asset Co., Ltd., where Ms. Mako serves as Representative Director, was explained as a registered company dealing in financial instruments.<\/li>\n\n\n\n<li>A Telegram group involving Mr. Watanabe, Ms. Mako, and secretarial office personnel was used for continuous investment guidance and performance reports.<\/li>\n\n\n\n<li>That the bank account in the personal name of Mr. Watanabe was designated as the final destination for the transfer.<\/li>\n<\/ul>\n\n\n\n<p>From the perspective of a current employee, the recruiter is not merely an acquaintance. They are the Representative Director who holds strong influence over their personnel affairs, compensation, placement, and evaluation.<\/p>\n\n\n\n<p>From the client's perspective, the recruiter is not merely an investment partner. They are the representative of a listed company who holds influence over future contracts, trade terms, referrals, networks, and business opportunities.<\/p>\n\n\n\n<p>Even if employees or business partners made the transfers ostensibly \u201cof their own free will,\u201d we cannot ignore their relationship with the person who solicited the investment. When a representative of a publicly traded company recommended an investment of 10 million yen per share, who guaranteed that refusing would not affect their employment or business dealings?<\/p>\n\n\n\n<p>It wasn't just overseas equity-linked structured bonds that Mr. Watanabe was selling.<\/p>\n\n\n\n<p>It is the credibility of Last Mile Inc., a listed company.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The personal accounts of listed company executives do not automatically transform into customer asset management accounts at securities companies.<\/p>\n<\/blockquote>\n\n\n\n<p>You cannot use the company's credit as the entry point while channeling only the outflow of funds to Mr. Watanabe personally.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">If current employees and business partners are the investors, the company's operations itself become a crime scene.<\/h2>\n\n\n\n<p>The criteria for distinguishing between private investments by a representative and investments involving the company are not based solely on whose name is used.<\/p>\n\n\n\n<p>Judgments should be based on the actual facts of who was solicited, which relationships were used, which titles were displayed, whether company personnel, facilities, or information were used, and what the investors relied upon when providing funds.<\/p>\n\n\n\n<p>Since many current employees and business partners were among those solicited in this matter, what the board of directors should investigate is clear.<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>Did you acquire the contact information of employees or business partners from internal directories, customer information, partner lists, or other company information?<\/li>\n\n\n\n<li>Were company email, company mobile phones, internal chat, meeting rooms, the secretary's office, business trips, business dinners, or other company resources utilized?<\/li>\n\n\n\n<li>During the solicitation, did you not use the title of Representative Director of Last One Mile Co., Ltd. as material for building trust?<\/li>\n\n\n\n<li>Was there any psychological pressure exerted on employees against the backdrop of the superior-subordinate relationship?<\/li>\n\n\n\n<li>Did the information regarding whether someone participated in or declined the investment affect human resources, performance evaluations, assignments, or treatment?<\/li>\n\n\n\n<li>Were you engaging in solicitation that made clients conscious of contract continuation, trading conditions, referrals, or relationships with business opportunities?<\/li>\n\n\n\n<li>Were investment-related losses, issues, and complaints kept under wraps due to the business relationship with the company?<\/li>\n<\/ul>\n\n\n\n<p>Employees and business partners are not investors that Mr. Watanabe personally found out of the blue.<\/p>\n\n\n\n<p>It is the human relationships that Last One Mile Inc. has built through its business activities.<\/p>\n\n\n\n<p>If the representative raised funds using that relationship, it means the company's business foundation was diverted into a customer-attraction device for investment solicitation.<\/p>\n\n\n\n<p>There is no room for the company's board of directors to say, \"It is a personal matter.\"<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">At the point where even Hiroshi Mako and LG Asset have moved, the \"individual representative\" excuse no longer works.<\/h2>\n\n\n\n<p>In this case, Hiroshi Mako, who served as the head of the secretariat for Makoto Watanabe, Representative Director of Last One Mile Co., Ltd., acted on Mr. Watanabe's instructions to handle communications with investment participants and manage operational duties.<\/p>\n\n\n\n<p>Ms. Mako is also the representative director of LG Asset Co., Ltd. The company is registered as a financial products intermediary under Fukuoka Regional Finance Bureau Director (Kanenaka) Registration No. 123; the date of registration is December 24, 2021.<\/p>\n\n\n\n<p>Meanwhile, the fundraising and investment activities related to this matter had already begun by at least March 2021.<\/p>\n\n\n\n<p>Mr. Watanabe determined the investment details, and the head of the secretarial office at Last One Mile Co., Ltd. handled the practical operations. The name and credibility of the financial instruments intermediary business where that individual served as representative were presented, and the targets of solicitation included numerous Last One Mile employees and business partners.<\/p>\n\n\n\n<p>Even with this many connections to the company, will the board of directors still call it \"Mr. Watanabe's personal matter\"?<\/p>\n\n\n\n<p>In that case, I would like you to tell me where the line is drawn\u2014at what point does using the company make it a company matter?<\/p>\n\n\n<div class=\"swell-block-postLink\">\t\t\t<a href=\"https:\/\/minnanounion.info\/en\/archives\/1209\" class=\"c-blogLink -internal\" data-style=\"slim\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<!-- <i class=\"c-blogLink__icon icon-link\" role=\"presentation\"><\/i> -->\n\t\t\t\t<span class=\"c-blogLink__icon\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"swl-svg-link __svg\" width=\"1em\" height=\"1em\" viewbox=\"0 0 48 48\" role=\"img\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M21.2 30.2c-.5 0-1-.2-1.4-.6l-.7-.7c-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l7.1-7.1c2.3-2.3 5.3-3.5 8.5-3.5s6.2 1.2 8.5 3.5c4.7 4.7 4.7 12.3 0 17l-3.5 3.5c-.8.8-2 .8-2.8 0-.8-.8-.8-2 0-2.8l3.5-3.5c3.1-3.1 3.1-8.2 0-11.3-1.5-1.5-3.5-2.3-5.7-2.3-2.1 0-4.2.8-5.7 2.3l-7.1 7.1c-1.5 1.5-2.3 3.5-2.3 5.7s.8 4.2 2.3 5.7l.7.7c.8.8.8 2 0 2.8-.4.3-.9.5-1.4.5z\" \/><path d=\"M13.4 46.6c-3.1 0-6.1-1.2-8.5-3.5-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l3.5-3.5c.8-.8 2-.8 2.8 0 .8.8.8 2 0 2.8l-3.5 3.5c-1.5 1.5-2.3 3.5-2.3 5.7 0 2.1.8 4.2 2.3 5.7 3.1 3.1 8.2 3.1 11.3 0l7.1-7.1c1.5-1.5 2.3-3.5 2.3-5.7 0-2.1-.8-4.2-2.3-5.7l-.7-.7c-.8-.8-.8-2 0-2.8.8-.8 2-.8 2.8 0l.7.7c2.3 2.3 3.5 5.3 3.5 8.5s-1.2 6.2-3.5 8.5l-7.1 7.1c-2.3 2.3-5.3 3.5-8.4 3.5z\" \/><\/svg>\t\t\t\t<\/span>\n\t\t\t\t<span class=\"c-blogLink__text\">[Last-Mile Labor Union] Hiroshi Mako, Representative Director and President of LG Asset Co., Ltd., and the \"Makoto Watanabe Secretariat\"<\/span>\n\t\t\t<\/a>\n\t\t<\/div>\n\n\n<p>The fact that the Fukuoka District Public Prosecutors Office decided not to prosecute the three cases due to insufficient evidence does not eliminate the board of directors' duty to investigate.<\/p>\n\n\n\n<p>Insufficient evidence does not mean a finding that there was no solicitation using the company's credit, nor does it mean a finding that employees or business partners were not solicited, nor does it mean a finding that company resources were not used.<\/p>\n\n\n\n<p>The issue of whether guilt can be proven in a criminal trial is separate from the responsibility of a listed company to investigate the actual usage of its representative, secretarial office, employees, business partners, and social credibility, and to explain it to its shareholders.<\/p>\n\n\n\n<p>Insufficient suspicion is not an investigation immunity letter delivered to the Board of Directors and the Audit and Supervisory Committee.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Just looking for the words \"referred to prosecutors\" in a list does not qualify as timely disclosure.<\/h2>\n\n\n\n<p>The Board of Directors of Last One Mile Inc. probably concluded that \"the mere fact that an individual representative was sent to the prosecutors does not fall under the standardized items for timely disclosure.\"<\/p>\n\n\n\n<p>However, the TSE's timely disclosure system is not a word-matching game of looking for the same word in a list of disclosure items.<\/p>\n\n\n\n<p><a href=\"https:\/\/faq.jpx.co.jp\/disclo\/tse\/web\/knowledge6767.html\" target=\"_blank\" rel=\"noopener noreferrer\">Article 402, Item 2, Sub-item x of the Tokyo Stock Exchange Securities Listing Regulations<\/a>demands the immediate disclosure of the following material facts:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>A material fact concerning the management, business, property, or listed share certificates, etc., of the listed company that has a significant impact on investors' investment decisions.<\/p>\n<\/blockquote>\n\n\n\n<p>The TSE requests that even in cases where numerical criteria or standardized items do not apply, the impact on investment decisions should be substantially assessed and disclosed if material.<\/p>\n\n\n\n<p>This matter has at least the following elements:<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>The current Chairman and CEO has been referred to prosecutors on charges of violating the Financial Instruments and Exchange Act.<\/li>\n\n\n\n<li>The target audience included a large number of current employees and business partners of Last Mile, Inc.<\/li>\n\n\n\n<li>In the solicitation, the company\u2019s representative\u2019s title and the credibility of the listed company were exploited.<\/li>\n\n\n\n<li>Hiroshi Mako, head of the secretary's office for the company's representative director, handled the investment operations.<\/li>\n\n\n\n<li>It is necessary to investigate whether the company&#x27;s personnel, contact information, facilities, working hours, and expenses were used.<\/li>\n\n\n\n<li>This directly affects the relationships of trust with employees, business partners, shareholders, financial institutions, and auditors.<\/li>\n\n\n\n<li>It directly impacts representative eligibility, internal controls, conflicts of interest, related-party management, and investor protection.<\/li>\n\n\n\n<li>The issue centers on the company\u2019s own response\u2014specifically, what the Board of Directors and the Audit and Supervisory Committee did after becoming aware of the matter.<\/li>\n<\/ul>\n\n\n\n<p>It is much more unreasonable to conclude that this has nothing to do with the company's management or operations.<\/p>\n\n\n\n<p>Our association determines that this matter constitutes material corporate information to be disclosed to investors pursuant to Article 402, Item 2, sub-item (x) of the Securities Listing Regulations.<\/p>\n\n\n\n<p>At the very least, the board of directors must formally deliberate on the necessity of timely disclosure, and record the date of deliberation, attendees, materials reviewed, legal opinions, preliminary consultations with the Tokyo Stock Exchange, and the conclusions and reasons therefor.<\/p>\n\n\n\n<p>However,<a href=\"https:\/\/lomgrp.co.jp\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">Last One Mile Co., Ltd. Official IR &amp; News<\/a>There is no explanation regarding this matter on the website.<\/p>\n\n\n\n<p>The company experienced an incident in June 2026<a href=\"https:\/\/lomgrp.co.jp\/wp-content\/uploads\/2026\/06\/Informationleak_260622.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Regarding the leak of customer information, we have officially announced the circumstances, scope of impact, cause, and response.<\/a>I am doing that.<\/p>\n\n\n\n<p>It is only natural that they announced the customer information leak. However, if they disclose information leaks caused by configuration errors while failing to disclose the issue where the representative director was referred to prosecutors for soliciting investments from employees and business partners of a listed company, does their disclosure door operate on a mechanism where it opens for employee-related issues, but automatically closes when it comes to Mr. Watanabe's problems?<\/p>\n\n\n\n<p><a href=\"https:\/\/lomgrp.co.jp\/pdf\/corp_gov_20251127.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">The company&#x27;s own corporate governance report<\/a>contains the following basic stance:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>It is the responsibility of a publicly traded company to disclose corporate information in a timely and appropriate manner.<\/p>\n<\/blockquote>\n\n\n\n<p>The purpose is not simply to write the word \u201cresponsibility.\u201d<\/p>\n\n\n\n<p>It is being questioned whether he can fulfill his responsibilities when information unfavorable to Mr. Watanabe arises.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Is the Board of Directors the body that oversees Makoto Watanabe, or is it Makoto Watanabe\u2019s soundproof room?<\/h2>\n\n\n\n<p><a href=\"https:\/\/lomgrp.co.jp\/officer\/\" target=\"_blank\" rel=\"noopener noreferrer\">Official Executive Introduction of Last One Mile Inc.<\/a>currently lists the following directors.<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>Makoto Watanabe, Chairman and CEO.<\/li>\n\n\n\n<li>Koichi Matsunaga, Representative Director, President, and COO.<\/li>\n\n\n\n<li>Managing Executive Officers Kohei Ichikawa, Takuya Yanagida, Naoyo Eme, Zen Kukinomiya, and Miwa Ito.<\/li>\n\n\n\n<li>Directors Nariaki Nagano and Takafumi Yano.<\/li>\n\n\n\n<li>The outside directors who serve as members of the Audit and Supervisory Committee are Yuya Tanaka, Mitsuru Ozaki, and Rintaro Ishigami.<\/li>\n<\/ul>\n\n\n\n<p>The company\u2019s Corporate Governance Report describes the Board of Directors as the body responsible for deliberating on and deciding important management matters and for overseeing the performance of duties by each director.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Article 355 of the Companies Act: Directors shall comply with laws and regulations, the articles of incorporation, and resolutions of shareholders meetings, and shall faithfully perform their duties for the stock company.<\/p>\n<\/blockquote>\n\n\n\n<p>The person to whom the directors owe a duty of loyalty is not Mr. Watanabe.<\/p>\n\n\n\n<p>This is Last One Mile Inc.<\/p>\n\n\n\n<p>If the CEO used the company\u2019s reputation, employees, business partners, and the secretarial office for personal investment solicitation, the other directors must supervise Mr. Watanabe, remove him from the company, and investigate the facts.<\/p>\n\n\n\n<p>However, the company has hitherto failed to provide substantive answers while receiving specific questions regarding its ties to antisocial forces, private use of company funds, unfavorable treatment of whistleblowers, relationships with Defendant Kazuyoshi Nakano and Mr. Satoshi Saito, the actual working conditions of the secretariat office, warnings of delisting to other companies, death threats, and domination and intervention in labor unions.<\/p>\n\n\n<div class=\"swell-block-postLink\">\t\t\t<a href=\"https:\/\/minnanounion.info\/en\/archives\/1058\" class=\"c-blogLink -internal\" data-style=\"slim\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<!-- <i class=\"c-blogLink__icon icon-link\" role=\"presentation\"><\/i> -->\n\t\t\t\t<span class=\"c-blogLink__icon\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"swl-svg-link __svg\" width=\"1em\" height=\"1em\" viewbox=\"0 0 48 48\" role=\"img\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M21.2 30.2c-.5 0-1-.2-1.4-.6l-.7-.7c-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l7.1-7.1c2.3-2.3 5.3-3.5 8.5-3.5s6.2 1.2 8.5 3.5c4.7 4.7 4.7 12.3 0 17l-3.5 3.5c-.8.8-2 .8-2.8 0-.8-.8-.8-2 0-2.8l3.5-3.5c3.1-3.1 3.1-8.2 0-11.3-1.5-1.5-3.5-2.3-5.7-2.3-2.1 0-4.2.8-5.7 2.3l-7.1 7.1c-1.5 1.5-2.3 3.5-2.3 5.7s.8 4.2 2.3 5.7l.7.7c.8.8.8 2 0 2.8-.4.3-.9.5-1.4.5z\" \/><path d=\"M13.4 46.6c-3.1 0-6.1-1.2-8.5-3.5-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l3.5-3.5c.8-.8 2-.8 2.8 0 .8.8.8 2 0 2.8l-3.5 3.5c-1.5 1.5-2.3 3.5-2.3 5.7 0 2.1.8 4.2 2.3 5.7 3.1 3.1 8.2 3.1 11.3 0l7.1-7.1c1.5-1.5 2.3-3.5 2.3-5.7 0-2.1-.8-4.2-2.3-5.7l-.7-.7c-.8-.8-.8-2 0-2.8.8-.8 2-.8 2.8 0l.7.7c2.3 2.3 3.5 5.3 3.5 8.5s-1.2 6.2-3.5 8.5l-7.1 7.1c-2.3 2.3-5.3 3.5-8.4 3.5z\" \/><\/svg>\t\t\t\t<\/span>\n\t\t\t\t<span class=\"c-blogLink__text\">[Last One Mile Labor Union] Don't run away from answers and responsibility<\/span>\n\t\t\t<\/a>\n\t\t<\/div>\n\n\n<p>If the board of directors did not know about the issue, they lack the ability to gather information.<\/p>\n\n\n\n<p>If they knew about it but didn&#x27;t investigate, then they are failing in their supervisory duties.<\/p>\n\n\n\n<p>If you conduct an investigation but do not make it public, you are abdicating your accountability.<\/p>\n\n\n\n<p>Either way, this is not a normal response for the board of directors of a listed company.<\/p>\n\n\n\n<p>Silence is not neutral. Remaining mutually silent after recognizing critical information is a management decision to stay silent.<\/p>\n\n\n\n<p>If the Board of Directors does not supervise Mr. Watanabe's business execution and merely blocks outside inquiries, it is not a supervisory body.<\/p>\n\n\n\n<p>This is the soundproof room installed around Mr. Watanabe.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What did Yuya Tanaka, Mitsu Ozaki, and Rintaro Ishigami audit?<\/h2>\n\n\n\n<p>The Audit and Supervisory Committee members of Last One Mile Inc. are Yuya Tanaka, Mitsuru Ozaki, and Rintaro Ishigami. All three are officially outside directors.<\/p>\n\n\n\n<p>The duties assigned by the Companies Act to the Audit and Supervisory Committee are clear.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Article 399-2, Paragraph 3, Item 1 of the Companies Act: Auditing the execution of duties by directors and preparing audit reports.<\/p>\n<\/blockquote>\n\n\n\n<p>According to the company's corporate governance report, the Audit and Supervisory Committee is scheduled to hold monthly meetings, review important documents, ask questions to officers and employees, and audit the execution of duties by each director.<\/p>\n\n\n\n<p>Then, what did you audit regarding this matter?<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>Who Mr. Watanabe invited to invest.<\/li>\n\n\n\n<li>How many current employees and business partners were solicited?<\/li>\n\n\n\n<li>Were company contacts, equipment, personnel, and working hours used?<\/li>\n\n\n\n<li>What did Hiroshi Mako do as the head of the secretariat?<\/li>\n\n\n\n<li>Where the funds that entered Mr. Watanabe's personal account were moved.<\/li>\n\n\n\n<li>When did the board of directors become aware of the document referral to prosecutors, and why was it not disclosed?<\/li>\n\n\n\n<li>Were there any cases of silencing, intimidation, or unfavorable treatment toward solicited employees or business partners?<\/li>\n\n\n\n<li>Do you still recognize Mr. Watanabe's eligibility as representative director?<\/li>\n<\/ul>\n\n\n\n<p>If the Audit and Supervisory Committee has not investigated a single one of these, they are not performing their audits.<\/p>\n\n\n\n<p>If they are investigating, checking the facts, and remaining silent, they are using the audit results to defend the company.<\/p>\n\n\n\n<p>Gathering every month is not an audit. Creating minutes is not an audit. Wearing an outside director name tag around your neck is not an audit.<\/p>\n\n\n\n<p>Auditing means reaching for facts inconvenient to the representative director, separating them from business execution if necessary, and protecting the company and shareholders.<\/p>\n\n\n\n<p>If all three external audit and supervisory board members remain silent, independence exists only on paper.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Last-mile compliance where the fire origin approves the fire prevention plan<\/h2>\n\n\n\n<p>Reading Last One Mile Co., Ltd.'s corporate governance report makes it clear in the company's own words why investigating this matter internally alone cannot ensure independence.<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>The Internal Audit Office conducts audits based on the audit plan approved by the Representative Director, Chairman and CEO.<\/li>\n\n\n\n<li>The results of the internal audit are reported to the Representative Director, Chairman and CEO.<\/li>\n\n\n\n<li>The Chairman of the Risk and Compliance Committee is the Representative Director, Chairman, and CEO.<\/li>\n\n\n\n<li>The Chief Risk Officer is also the Representative Director, Chairman, and CEO.<\/li>\n<\/ul>\n\n\n\n<p>That very Representative Director, Chairman, and CEO is Makoto Watanabe, who was sent to the prosecutors in this violation of the Financial Instruments and Exchange Act case.<\/p>\n\n\n\n<p>In other words, if we leave it to the normal internal channels, Mr. Watanabe would approve the audit plan to investigate Mr. Watanabe, receive the results of the investigation on Mr. Watanabe, and chair the Risk and Compliance Committee that handles issues concerning Mr. Watanabe.<\/p>\n\n\n\n<p>It is a system in which the fire source approves the fire prevention plan, receives reports on firefighting activities, and finally announces the cause of the fire.<\/p>\n\n\n\n<p>If any board members think this constitutes an independent investigation, they need to relearn the meaning of conflict of interest, let alone governance.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.jpx.co.jp\/regulation\/listing\/principle\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">Principles for Response to Corporate Scandals at Listed Companies by Japan Exchange Regulation<\/a>indicates that if there are significant doubts about the effectiveness of internal control or the reliability of management, an independent, neutral, and specialized third-party committee becomes a strong option.<\/p>\n\n\n\n<p>This time, unless Mr. Watanabe is completely excluded from the selection of the investigation contractor, access to evidence, interviews with related parties, and the approval of the investigation results, it cannot be considered an investigation.<\/p>\n\n\n\n<p>This is an investigation by Mr. Watanabe, for Mr. Watanabe, of Mr. Watanabe.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Labor unions [are quick to protest] domination and intervention, but silent on the referral of representatives to prosecutors.<\/h2>\n\n\n\n<p>When asked about Mr. Watanabe's issues, the management of Last One Mile Inc. remains silent.<\/p>\n\n\n\n<p>However, they move surprisingly aggressively to stop labor union activities.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Article 28 of the Constitution of Japan: The right of workers to organize and to bargain and act collectively is guaranteed.<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Article 7, Item 3 of the Labor Union Act: To dominate or interfere in the formation or operation of a labor union by workers.<\/p>\n<\/blockquote>\n\n\n\n<p>Interference and control over our union were initially carried out by the management administration department, with Director Miwa Ito and Director Kohei Ichikawa acting as liaisons, and subsequently expanded to direct lobbying and pressure by Mr. Watanabe himself and related parties.<\/p>\n\n\n\n<p>The company demands information that could lead to the identification of union members, interferes in union activities, and repeatedly attacks union-related individuals and associated parties, while refusing to answer regarding the representative director's financial instruments transactions, ties to antisocial forces, use of company funds, and referral of documents to prosecutors.<\/p>\n\n\n<div class=\"swell-block-postLink\">\t\t\t<a href=\"https:\/\/minnanounion.info\/en\/archives\/1005\" class=\"c-blogLink -internal\" data-style=\"slim\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<!-- <i class=\"c-blogLink__icon icon-link\" role=\"presentation\"><\/i> -->\n\t\t\t\t<span class=\"c-blogLink__icon\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"swl-svg-link __svg\" width=\"1em\" height=\"1em\" viewbox=\"0 0 48 48\" role=\"img\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M21.2 30.2c-.5 0-1-.2-1.4-.6l-.7-.7c-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l7.1-7.1c2.3-2.3 5.3-3.5 8.5-3.5s6.2 1.2 8.5 3.5c4.7 4.7 4.7 12.3 0 17l-3.5 3.5c-.8.8-2 .8-2.8 0-.8-.8-.8-2 0-2.8l3.5-3.5c3.1-3.1 3.1-8.2 0-11.3-1.5-1.5-3.5-2.3-5.7-2.3-2.1 0-4.2.8-5.7 2.3l-7.1 7.1c-1.5 1.5-2.3 3.5-2.3 5.7s.8 4.2 2.3 5.7l.7.7c.8.8.8 2 0 2.8-.4.3-.9.5-1.4.5z\" \/><path d=\"M13.4 46.6c-3.1 0-6.1-1.2-8.5-3.5-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l3.5-3.5c.8-.8 2-.8 2.8 0 .8.8.8 2 0 2.8l-3.5 3.5c-1.5 1.5-2.3 3.5-2.3 5.7 0 2.1.8 4.2 2.3 5.7 3.1 3.1 8.2 3.1 11.3 0l7.1-7.1c1.5-1.5 2.3-3.5 2.3-5.7 0-2.1-.8-4.2-2.3-5.7l-.7-.7c-.8-.8-.8-2 0-2.8.8-.8 2-.8 2.8 0l.7.7c2.3 2.3 3.5 5.3 3.5 8.5s-1.2 6.2-3.5 8.5l-7.1 7.1c-2.3 2.3-5.3 3.5-8.4 3.5z\" \/><\/svg>\t\t\t\t<\/span>\n\t\t\t\t<span class=\"c-blogLink__text\">[Last One Mile Labor Union] Regarding the coercive control intervention by Representative Director Makoto Watanabe<\/span>\n\t\t\t<\/a>\n\t\t<\/div>\n\n\n<p>Furthermore, Mr. Watanabe has repeatedly made statements to opposing individuals and companies to the following effect:<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>A statement to the effect of \"I'll kill you.\"<\/li>\n\n\n\n<li>A remark to the effect of \"I'll drag you down with me, even if it kills me.\"<\/li>\n\n\n\n<li>A remark to the effect of, \"If you don't do as I say, I'll destroy the whole company.\"<\/li>\n\n\n\n<li>Statements to the effect of \"definitely forcing\" an independent listed company \"to delist.\"<\/li>\n\n\n\n<li>Statements to the effect of getting what one wants, even if it means using antisocial forces.<\/li>\n<\/ul>\n\n\n\n<p>Even if the representative of a listed company speaks about murder, intimidation, delisting, or the use of antisocial forces, the board of directors and the audit and supervisory committee do not provide a substantive response.<\/p>\n\n\n<div class=\"swell-block-postLink\">\t\t\t<a href=\"https:\/\/minnanounion.info\/en\/archives\/1076\" class=\"c-blogLink -internal\" data-style=\"slim\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<!-- <i class=\"c-blogLink__icon icon-link\" role=\"presentation\"><\/i> -->\n\t\t\t\t<span class=\"c-blogLink__icon\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"swl-svg-link __svg\" width=\"1em\" height=\"1em\" viewbox=\"0 0 48 48\" role=\"img\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M21.2 30.2c-.5 0-1-.2-1.4-.6l-.7-.7c-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l7.1-7.1c2.3-2.3 5.3-3.5 8.5-3.5s6.2 1.2 8.5 3.5c4.7 4.7 4.7 12.3 0 17l-3.5 3.5c-.8.8-2 .8-2.8 0-.8-.8-.8-2 0-2.8l3.5-3.5c3.1-3.1 3.1-8.2 0-11.3-1.5-1.5-3.5-2.3-5.7-2.3-2.1 0-4.2.8-5.7 2.3l-7.1 7.1c-1.5 1.5-2.3 3.5-2.3 5.7s.8 4.2 2.3 5.7l.7.7c.8.8.8 2 0 2.8-.4.3-.9.5-1.4.5z\" \/><path d=\"M13.4 46.6c-3.1 0-6.1-1.2-8.5-3.5-2.3-2.3-3.5-5.3-3.5-8.5s1.2-6.2 3.5-8.5l3.5-3.5c.8-.8 2-.8 2.8 0 .8.8.8 2 0 2.8l-3.5 3.5c-1.5 1.5-2.3 3.5-2.3 5.7 0 2.1.8 4.2 2.3 5.7 3.1 3.1 8.2 3.1 11.3 0l7.1-7.1c1.5-1.5 2.3-3.5 2.3-5.7 0-2.1-.8-4.2-2.3-5.7l-.7-.7c-.8-.8-.8-2 0-2.8.8-.8 2-.8 2.8 0l.7.7c2.3 2.3 3.5 5.3 3.5 8.5s-1.2 6.2-3.5 8.5l-7.1 7.1c-2.3 2.3-5.3 3.5-8.4 3.5z\" \/><\/svg>\t\t\t\t<\/span>\n\t\t\t\t<span class=\"c-blogLink__text\">[Last One Mile Labor Union] Is Makoto Watanabe anti-city or antisocial?<\/span>\n\t\t\t<\/a>\n\t\t<\/div>\n\n\n<p>With this, what last-mile compliance is trying to eliminate is not fraud.<\/p>\n\n\n\n<p>A person who asks about cheating.<\/p>\n\n\n\n<p>Remaining silent on the referral of the representative to prosecutors while systematically intervening as a company in a labor union operating based on constitutional rights. The priorities are completely reversed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Makoto Watanabe's discussion on \"Management of gathering fools and making them obey\" is complete.<\/h2>\n\n\n\n<p>Makoto Watanabe has always called people other than himself \"idiots,\" and frequently tells those around him that \"gathering idiots and making them obey you is the ultimate management.\"<\/p>\n\n\n\n<p>Looking at the actions of the board of directors and the audit and supervisory committee this time, their management philosophy appears to be brilliantly realized.<\/p>\n\n\n\n<ul class=\"wp-block-list is-style-check_list\">\n<li>Even if the Representative Director is sent to the prosecutors on charges of violating the Financial Instruments and Exchange Act, the Board of Directors does not initiate an independent investigation.<\/li>\n\n\n\n<li>Even if current employees or business partners receive investment solicitations, they do not investigate their relationship with the company.<\/li>\n\n\n\n<li>Even if the title and credibility of a listed company are exploited, timely disclosure is not made.<\/li>\n\n\n\n<li>Even if the head of the secretariat office and related corporate entities are involved in the incident, they do not explain the actual usage of company resources.<\/li>\n\n\n\n<li>Even if the representative speaks of murder or the delisting of other companies, the Audit and Supervisory Committee remains silent.<\/li>\n\n\n\n<li>When the labor union asks questions, management retaliates with domination and intervention, and by hunting for whistleblowers.<\/li>\n\n\n\n<li>The representative themselves approves the internal audit plan and continues to serve as the chairperson of the Risk and Compliance Committee.<\/li>\n<\/ul>\n\n\n\n<p>At this point, the polite expression \"low governance awareness\" doesn't even cut it.<\/p>\n\n\n\n<p>Cannot investigate. Cannot supervise. Cannot disclose. Cannot protect workers. Cannot even voice opinions to representatives.<\/p>\n\n\n\n<p>It is simply an incompetent group that has voluntarily shut down the functions necessary for a listed company.<\/p>\n\n\n\n<p>If Mr. Watanabe truly believes that \"management is gathering fools and making them obey,\" then the current board of directors may have been completed as a successful example of that.<\/p>\n\n\n\n<p>However, the chair to which the shareholders appointed him is not one to submit to Mr. Watanabe.<\/p>\n\n\n\n<p>I am a director who oversees the company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Open Questions to the Board of Directors and Audit &amp; Supervisory Committee of Last1Mile Co., Ltd.<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Questions for the Board of Directors<\/h3>\n\n\n\n<ol class=\"wp-block-list is-style-num_circle\">\n<li>When and from whom did the Board of Directors learn about the fact that Mr. Makoto Watanabe, Mr. Hiroshi Mako, and LG Asset Co., Ltd. were sent to the prosecutors for violations of the Financial Instruments and Exchange Act?<\/li>\n\n\n\n<li>Please clarify the date this matter was made an official agenda item of the Board of Directors, the meeting name, attendees, confirmed materials, meeting minutes (proceedings), and resolution results.<\/li>\n\n\n\n<li>When and how did Mr. Watanabe himself report the document referral, case number, details of the investigation, and the reason for non-prosecution to the Board of Directors?<\/li>\n\n\n\n<li>Do you know the number of people, number of units, investment amount, and guaranteed amount regarding current employees, former employees, business partners, outsourcing contractors, and other related parties of Last One Mile Inc. who were solicited for this investment?<\/li>\n\n\n\n<li>How did Mr. Watanabe obtain the names, phone numbers, email addresses, and other contact information of the persons to be solicited?<\/li>\n\n\n\n<li>Have you used internal directories, customer information, client lists, company devices, internal chat, or other company information for investment solicitation?<\/li>\n\n\n\n<li>Did Mr. Watanabe use his title as Representative Director of Last One Mile Co., Ltd., his business card, the company name, and the fact that it is a listed company as credible material during the solicitation?<\/li>\n\n\n\n<li>Has the fact of whether the solicited employees participated in the investment or declined it had any impact on their performance evaluations, job placement, promotions or demotions, compensation, recommendations for resignation, or other treatment?<\/li>\n\n\n\n<li>Regarding the solicited business partner, is there any fact that participation or non-participation in the investment has affected contracts, terms of trade, orders, payments, referrals, or other business relationships?<\/li>\n\n\n\n<li>Did Hirofumi Mako, staff related to the secretariat office, or other employees use working hours, company devices, company facilities, business trips, dinners, or company expenses to be involved in this matter?<\/li>\n\n\n\n<li>Did the Board of Directors investigate all fund transfers, including investments, security deposits, dividends, and refunds, that entered Mr. Watanabe's personal account?<\/li>\n\n\n\n<li>Did Last One Mile Inc. or its group companies bear the operating losses, dividends, returns, attorney's fees, stakeholder response costs, or any other expenses related to this matter?<\/li>\n\n\n\n<li>Have you reported this matter to the accounting auditor, major shareholders, capital and business alliance partners, Tokyo Stock Exchange, Securities and Exchange Surveillance Commission, or Fukuoka Local Finance Bureau?<\/li>\n\n\n\n<li>When, by whom, and based on which documents was the necessity of timely disclosure pursuant to Article 402, Item 2, x of the Securities Listing Regulations examined?<\/li>\n\n\n\n<li>If you determine that timely disclosure is not necessary, please clarify the directors, legal experts, and information handling officers who made that determination, as well as the specific reasons.<\/li>\n\n\n\n<li>While the customer data leak was officially announced, what is the reason for the difference in judgment regarding not disclosing the referral of the representative director to the prosecutors and the solicitation of investments from employees and business partners?<\/li>\n\n\n\n<li>Have you excluded Mr. Watanabe from the selection of the investigative contractor, access to evidence, interviews with relevant parties, approval of the investigation results, and deliberations by the Risk and Compliance Committee?<\/li>\n\n\n\n<li>Have you issued an internal order prohibiting searches, intimidation, and unfavorable treatment of recruited employees, business partners, informants, and labor union representatives?<\/li>\n\n\n\n<li>Will timely disclosure regarding this matter be made immediately via TDnet?<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Questions for Mr. Yuya Tanaka, Mr. Mitsuru Ozaki, and Mr. Rintaro Ishigami<\/h3>\n\n\n\n<ol class=\"wp-block-list is-style-num_circle\">\n<li>When did the Audit and Supervisory Committee become aware of this document referral to the prosecutors?<\/li>\n\n\n\n<li>Did you hold an ad hoc audit committee meeting or similar after grasping the situation? If held, please clarify its date, agenda, attendees, and conclusions.<\/li>\n\n\n\n<li>Have you interviewed Mr. Watanabe, Mr. Hiroshi Mako, individuals related to the secretariat's office, the employees who were solicited, and business partners?<\/li>\n\n\n\n<li>Have you reviewed Telegram, bank records, company devices, internal emails, attendance records, expenses, meeting room usage, and board of directors meeting minutes?<\/li>\n\n\n\n<li>Do you consider an independent investigation possible under the current structure, where Mr. Watanabe himself approves the internal audit plan and receives reports on the audit results?<\/li>\n\n\n\n<li>Did you use the Audit and Supervisory Committee's independent authority and budget to retain external lawyers, certified public accountants, or investigative firms independent of Mr. Watanabe?<\/li>\n\n\n\n<li>Did you audit Mr. Watanabe's domination and intervention in the labor union, death threat statements, warnings of delisting to other companies, and statements regarding the use of antisocial forces as the execution of duties by directors?<\/li>\n\n\n\n<li>What is the reason why the Audit and Supervisory Committee has not provided substantive answers to the specific questions previously presented by our association?<\/li>\n\n\n\n<li>Has the Audit and Supervisory Committee concluded that there are no issues with the qualifications of Mr. Watanabe to continue as Representative Director, Chairman, and CEO?<\/li>\n\n\n\n<li>Will you disclose the content of the investigation by the Audit and Supervisory Committee, confirmed facts, evaluations, recommendations to the Board of Directors, and opinions regarding timely disclosure?<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">Measures Sought by the Last Mile Labor Union<\/h2>\n\n\n\n<ol class=\"wp-block-list is-style-num_circle\">\n<li>The Board of Directors and the Audit and Supervisory Committee shall immediately make this matter a formal agenda item and hold an extraordinary meeting.<\/li>\n\n\n\n<li>Completely isolate Makoto Watanabe from this investigation, evidence preservation, witness interviews, timely disclosure decisions, and any influence on the Risk and Compliance Committee and internal audit.<\/li>\n\n\n\n<li>To establish a third-party committee consisting solely of external experts who are independent of Mr. Watanabe and the current management team.<\/li>\n\n\n\n<li>Immediately preserve Telegram, LINE, emails, internal chat, bank records, contracts, investment materials, company devices, time and attendance, expenses, meeting minutes, and customer and vendor data.<\/li>\n\n\n\n<li>Identify current and former employees, business partners, contractors, and other related parties who were solicited, and investigate their investment amounts, deposits, dividends, and refund statuses.<\/li>\n\n\n\n<li>Inform the person to be solicited about a consultation service independent from the company, and prohibit any unfavorable treatment on the grounds of providing information or cooperating with an investigation.<\/li>\n\n\n\n<li>Track the subsequent fund transfers from Mr. Watanabe's personal account, the actual purchase of structured bonds, the contract names, and the ultimate beneficiaries on a transaction-by-transaction basis.<\/li>\n\n\n\n<li>Investigate the fact that Last One Mile Co., Ltd.'s titles, customer information, personnel, facilities, working hours, expenses, and business relationships were used for investment solicitation.<\/li>\n\n\n\n<li>Disclose this matter in a timely manner on TDnet, including the document referral to prosecutors, solicitation of employees and business partners, use of company resources, and impact on internal controls.<\/li>\n\n\n\n<li>Report this matter and the commencement of the investigation to the accounting auditor, major shareholders, capital and business alliance partners, the Tokyo Stock Exchange, the Securities and Exchange Surveillance Commission, and the Fukuoka Local Finance Bureau.<\/li>\n\n\n\n<li>Reevaluate the impact on the corporate governance report, internal control report, securities report, and related party information, and make necessary corrections or additional disclosures.<\/li>\n\n\n\n<li>Immediately cease all retaliatory actions, including interference in labor union affairs, identification of union members, searching for whistleblowers, intimidation, reassignment, dismissal, and suspension of business transactions.<\/li>\n\n\n\n<li>If private use of company funds or resources is confirmed, demand a full refund and compensation for damages from Mr. Watanabe and other beneficiaries.<\/li>\n\n\n\n<li>Explain to shareholders the statements, votes in favor or against, abstentions, absences, and reasons for decisions of each officer at the Board of Directors and Audit and Supervisory Committee meetings.<\/li>\n\n\n\n<li>Based on the investigation results, formally deliberate on the dismissal, resignation recommendation, holding accountable, and whether or not to reappoint the relevant executives, including Mr. Watanabe.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">The board of directors is not Makoto Watanabe's cheering squad, and the audit and supervisory committee is not a silent committee.<\/h2>\n\n\n\n<p>This is not a story about the Representative Director failing at investments in their private life.<\/p>\n\n\n\n<p>Makoto Watanabe used his position and credibility as the representative of a listed company to solicit current employees and business partners of Last One Mile Inc. for investment. The head of the secretary's office handled the administrative work, the sign of a financial instruments intermediary was used, and the funds went into Mr. Watanabe's personal account.<\/p>\n\n\n\n<p>As a result, Mr. Watanabe, Mr. Hiroshi Mako, and LG Asset Co., Ltd. were referred to the Fukuoka District Public Prosecutors Office for document submission regarding a case of violation of the Financial Instruments and Exchange Act.<\/p>\n\n\n\n<p>Although the company is aware of the fact, it has not explained it to shareholders, employees, business partners, or the market.<\/p>\n\n\n\n<p>Meanwhile, when the labor union investigates the representative's wrongdoings, company-wide interference in its control via the board of directors begins, along with the identification of union members and attacks on related parties.<\/p>\n\n\n\n<p>This is not a matter of a slight lack of governance awareness.<\/p>\n\n\n\n<p>A board of directors that fails to supervise management, an audit and supervisory committee that audits nothing, a compliance committee chaired by the very person under investigation, an investor relations department that conceals unfavorable information, and an internal control system that attacks only those who ask questions\u2014all working together to represent a complete abandonment of corporate function.<\/p>\n\n\n\n<p>Mr. Watanabe says that everyone except himself is an idiot, and that gathering idiots and making them obey is the ultimate management.<\/p>\n\n\n\n<p>If the Board of Directors and the Audit and Supervisory Committee continue to investigate nothing, answer nothing, disclose nothing, and protect only Mr. Watanabe, then unfortunately, not a single piece of evidence to refute his claims will come from the company side.<\/p>\n\n\n\n<p>What the shareholders elected was Mr. Watanabe alone, not eleven chairs.<\/p>\n\n\n\n<p>What the board of directors must protect is not the invincibility myth of Mr. Watanabe, but the corporate entity known as Last One Mile Co., Ltd., the employees who work there, business partners, customers, shareholders, and market trust.<\/p>\n\n\n\n<p>Using the company's name to raise funds, the company covers up the facts when problems arise, and the representative, protected by the cover-up, uses the company's name once again.<\/p>\n\n\n\n<p>That very circulation is the most malicious reflux of credit in this case.<\/p>\n\n\n\n<p>Before Makoto Watanabe shouts that he will force other companies to delist, the Board of Directors and the Audit and Supervisory Committee should remember the minimum conditions for remaining a listed company themselves.<\/p>\n\n\n\n<p>If you cannot even investigate, answer, or disclose, you are neither a board of directors nor an audit and supervisory committee.<\/p>\n\n\n\n<p>I am a supporter of Makoto Watanabe.<\/p>\n\n\n\n<div class=\"swell-block-button is-style-btn_line\"><a href=\"\/en\/list\/lastonemileunion\/\" class=\"swell-block-button__link\"><span>Last Mile Labor Union Home Page<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>\u73fe\u5f79\u5f93\u696d\u54e1\u3068\u53d6\u5f15\u5148\u3078\u4e0a\u5834\u4f1a\u793e\u306e\u4fe1\u7528\u3067\u9055\u6cd5\u6295\u8cc7\u3092\u52e7\u8a98\u3057\u3066\u3082\u958b\u793a\u3057\u306a\u3044\u306e\u304b \u30e9\u30b9\u30c8\u30ef\u30f3\u30de\u30a4\u30eb\u52b4\u50cd\u7d44\u5408\u306f\u3001\u5148\u306e\u8a18\u4e8b\u3067 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-1211","post","type-post","status-publish","format-standard","hentry","category-lastonemileunion"],"_links":{"self":[{"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/posts\/1211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/comments?post=1211"}],"version-history":[{"count":2,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/posts\/1211\/revisions"}],"predecessor-version":[{"id":1247,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/posts\/1211\/revisions\/1247"}],"wp:attachment":[{"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/media?parent=1211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/categories?post=1211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/minnanounion.info\/en\/wp-json\/wp\/v2\/tags?post=1211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}