Komori
Seven Bank (8410) · RiskWorsened

Unauthorized Access to 7pay and Discontinuation of the Barcode Payment Service

First written in FY2020-Q2. 1 of 2 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2020-Q3.

2entries
2years
0from disclosures
Share on X
How it moved
ProgressHeldSoftenedWorseMaterialisedFY2020-Q2 – FY2020-Q32019: 120192020: 12020
Same theme, other companies
Discontinuation of payment services and investment losses caused by unauthorized access to 7payA theme 2 companies write about · 2 as a headwind · 0 as a tailwind

Seven Bank moved to the "Worse" side of this theme in 2019.

0 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2020-Q3WorsenedAnnual report

    「The barcode payment service “7pay (Seven Pay)” provided by Seven Pay Co., Ltd., an equity-method affiliate of the Company, was discontinued on 30 September 2019.」

    After the discontinuation of the 7pay service, an equity-method investment loss of ¥3,217 million was recorded, primarily due to losses incurred during the discontinuation process.
  2. FY2020-Q2MaterialisedAnnual report

    「Unauthorized access occurred involving some accounts of “7pay (Seven Pay),” a barcode payment service provided by Seven Pay Co., Ltd. Continuing to provide the service under the existing scheme became difficult, and the service was discontinued on 30 September 2019. Primarily as a result of this, we recorded an equity-method investment loss of ¥2,666 million in the cumulative second quarter of the fiscal year.」

    Unauthorized access occurred involving some 7pay accounts, making it difficult to continue the service. The service was discontinued on 30 September 2019, and an equity-method investment loss of ¥2,666 million was recorded.
Moved together

"Uncertainty Surrounding Financial Services Expansion and Investment in New Businesses" moved the same way as this thread, in the same document, in 2 of its 2 moves.

2★1
  1. ★This thread
  2. 1Uncertainty Surrounding Financial Services Expansion and Investment in New Businesses2×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Seven Bank yet.
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Unauthorized Access to 7pay and Discontinuation of the Barcode Payment Service | Seven Bank,Ltd. (8410) | Komori