Japanese c-store operator Lawson has lowered its profit outlook for its current fiscal year from JPY13.2bn (US$146m), down from JPY25.5bn.
In a regulatory filing, the Japanese retailer said that it was forced to lower its guidance for the year, ended February, due to the unauthorised use of funds at its entertainment ticket sales business.
Go deeper with GlobalData
It emerged last month that executives at its Lawson Entermedia unit had made payments for billions of yen without approval from the company’s board.
The company estimated the scandal will cost the company JPY14.4bn.
