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

Data Insights

The gold standard of business intelligence.

Find out more

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.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now