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SHIFT, Inc. ( (JP:3697) ) has shared an update.
SHIFT Inc. has uncovered fraudulent subsidy applications by its subsidiary, Infinic Inc., through an internal audit assisted by external experts. The director of Infinic has been dismissed, and the company is collaborating with local authorities to address the issue while implementing a compliance check system. The financial impact on SHIFT’s FY2025 statements is expected to be minimal.
More about SHIFT, Inc.
SHIFT, Inc. is a company based in Tokyo, Japan, led by CEO Masaru Tange. The company operates in the nursery business sector, having acquired Infinic Inc. in October 2023.
YTD Price Performance: -10.42%
Technical Sentiment Signal: Strong Buy
Current Market Cap: €1.8B
Learn more about 3697 stock on TipRanks’ Stock Analysis page.