AEON Financial Service Challenges Vietnam Subsidiary Acquisition Over Accounting Irregularities

MT Newswires Live

2025/06/09

AEON Financial Service Co (TYO:8570) has contested the validity of its equity transfer agreement with Southeast Asia Commercial Joint Stock Bank (SeABank) regarding Post and Telecommunication Finance Company Limited (PTF) in Vietnam, according to a Friday filing on the Tokyo Stock Exchange.

The company uncovered inappropriate accounting transactions before acquiring PTF, which became its consolidated subsidiary in February 2025.

AEON notified SeABank that the equity transfer agreement is invalid and plans to pursue a full investigation, legal action, compensation for damages, and reimbursement of expenses related to the acquisition.

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