Latest news with #AeonFinancial
Reuters
an hour ago
- Business
- Reuters
Vietnam's SeABank seeking clarification from Aeon Financial after M&A deal declared invalid
HANOI, June 9 (Reuters) - Vietnam's Southeast Asia Commercial Joint Stock Bank ( opens new tab has requested an official meeting with Japan's Aeon Financial Service (8570.T), opens new tab after the latter said last week that its deal to buy a financial company owned by the bank was invalid. Aeon said the deal was invalid because of "inappropriate accounting transactions". "SeABank was extremely surprised by AEON Financial's unilateral disclosure," the bank said in a statement over the weekend. AEON Financial in February completed the acquisition of Post and Telecommunication Finance, a non-banking credit organisation, from SeABank for about 26.2 billion yen ($181.81 million). But the Japanese company later found that accounting information disclosed before the agreement "significantly diverged from reality," it said in a statement last week. Shares of SeABank fell 0.27% in early Monday trade to 18,150 dong. "SeABank promptly responded to AEON Financial, requesting an official meeting between the two parties at the earliest opportunity to clarify the matter in a spirit of cooperation and in accordance with the rule of law," the bank said in the statement.
CNA
3 days ago
- Business
- CNA
Aeon Financial says its M&A deal with Vietnam's SeABank is invalid
TOKYO :Aeon Financial Service said on Friday that its deal to buy a financial company owned by Vietnam's Southeast Asia Commercial Joint Stock Bank was invalid due to "inappropriate accounting transactions." The Japanese financial services company, a subsidiary of the Aeon retail group, in February completed the acquisition of Post and Telecommunication Finance, a non-banking credit organisation, from SeABank for about 26.2 billion yen ($181.81 million). But the Japanese company later found that accounting information disclosed before the agreement "significantly diverged from reality," it said in a statement. SeABank did not immediately reply to a request for comment. Aeon Financial said it will seek to invalidate the equity transfer agreement, and wants to recoup expenses incurred in concluding the equity transfer agreement. ($1 = 144.1100 yen)
Japan Times
15-05-2025
- Business
- Japan Times
Five arrested for alleged credit card fraud over tobacco purchases
Tokyo police have arrested five people for alleged fraudulent purchases of heated tobacco products with stolen credit card information at a convenience store in the city. The suspects include Mitsuyoshi Ugajin, the 50-year-old owner of the convenience store in Shinjuku Ward, and Pham Thi Thanh Hang, a 26-year-old Vietnamese national. The five were arrested by the Metropolitan Police Department on suspicion of buying some 2,800 boxes of heated tobacco products, worth about ¥1.64 million, at the convenience store using the Apple Pay iD contactless payment service over 167 times from Nov. 8 to 10 last year. At the convenience store, similar incidents occurred from May to November 2024, causing some ¥100 million in damage, according to people familiar with the investigation. Credit card information of 148 people, believed to have been stolen through phishing, had been registered to the payment service installed on smartphones. The suspects apparently aimed to resell heated tobacco products overseas. Offline payment, whose inappropriate use is unstoppable when smartphone signals are cut, was used for the crime. The purchases were limited to less than ¥10,000 each. The fraudulent purchases came to light when Aeon Financial Service, the issuer of the credit cards involved, consulted the police. In March this year, Aeon Financial said that credit card fraud using offline payment had drastically increased since spring last year, leaving tens of thousands of customers facing ¥9.9 billion in damage in total. No damage has been confirmed since Aeon Financial has taken new preventive measures, according to the company.
