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MIKUNI shares slide on earnings delay following overseas subsidiary misconduct
MIKUNI CORPORATION <7247> shares fell sharply. The company announced after trading on the 27th that it would postpone its full-year earnings announcement, which had been scheduled for May 11th. This is due to the discovery of fraudulent activities by an employee at an overseas subsidiary. The employee has been confirmed to have fraudulently obtained funds by recording fictitious transactions to disguise withdrawals, mishandling payment documents, and forging documents related to the earnings audit. The company is currently continuing its investigation into details such as the period during which the misconduct occurred and the amount of damages.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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