Zentoshin, an Osaka-based credit card payment processor, filed for bankruptcy on Monday. The filing affects banks and restaurants that rely on its services.
Zentoshin, based in Osaka, submitted its bankruptcy filing on Monday.
The company processes credit card payments and its collapse is reported to impact banks and restaurants.
The Japan Times reported the development with reference to Japanese courts and the Financial Services Agency.
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Starbucks Korea's 'Tank Day' promotion, launched on May 18, has triggered widespread backlash, causing a sharp sales drop and raising financial risks for parent Shinsegae Group.
Zentoshin, an Osaka-based credit card payment processor, has received approval to begin bankruptcy proceedings.
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Sixty-three creditors are pursuing claims totaling ¥115.16 billion following the collapse of Osaka-based payments firm Zentoshin.
Kings Pride Properties Limited has announced it is shutting down operations in Kenya after more than eight years in property development. A Nairobi High Court issued a liquidation order, appointing a liquidator and giving claimants 30 days to submit details. The closure will affect nearly 300 Kenyan employees.
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ASICS announced on June 10 that it will spin off its Onitsuka Tiger sneaker brand into a new wholly owned subsidiary called OT Group Corp to speed up decision-making amid strong demand from foreign tourists.
Toshifumi Suzuki, the businessman who introduced 7-Eleven stores to Japan, has died at the age of 93.
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Two men backed a car into a shop in Osaka's Naniwa Ward on Tuesday, stealing Pokemon cards and other items worth 1.5 million yen. Street security footage captured the incident at 3:45 a.m., according to police. An employee expressed fears of a repeat attack.