Money Forward, Inc. (JP:3994) has released an update.
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Money Forward, Inc. has announced that its subsidiary, Money Forward Kessai, Inc., is facing potential losses due to the bankruptcy of Hitoiro Co., Ltd., a counterparty. Despite the risk of uncollectible receivables amounting to 106.375 million yen, the company has insurance coverage, mitigating the financial impact. The provision for doubtful receivables will not affect the company’s full-year guidance.
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