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    8473   JP3436120004

SBI HOLDINGS, INC.

(8473)
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SBI : to shut down social lending unit after illegal cases found

05/24/2021 | 03:18am EDT

Japanese financial firm SBI Holdings Inc. said Monday it has decided to end the practice of soliciting funds from investors after its lending unit was found to have engaged in illegal activities connected to some loans.

The Tokyo-based SBI Social Lending Co. provided funds to companies after soliciting investments through its social lending program, a practice also known as peer-to-peer lending.

A third-party panel established by the parent firm concluded last month, however, the subsidiary used false or misleading information in seeking funds for 39 loan contracts taken out by companies.

SBI's parent company said it had already stopped soliciting new funds in March and will ensure investors impacted by the illegal practices will receive the money they invested back in full.

Loans involving investors who were not impacted by the company's illegal actions will see their contracts honored and they will be overseen in the future by SBI's asset management department.

Earlier this month, it was reported the Financial Services Agency was considering ordering the SBI unit to suspend operations over alleged illegalities.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials
Sales 2022 481 B 4 335 M 4 335 M
Net income 2022 71 211 M 642 M 642 M
Net Debt 2022 614 B 5 536 M 5 536 M
P/E ratio 2022 9,23x
Yield 2022 4,55%
Capitalization 672 B 6 066 M 6 053 M
EV / Sales 2022 2,67x
EV / Sales 2023 2,73x
Nbr of Employees 9 209
Free-Float 98,4%
Chart SBI HOLDINGS, INC.
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SBI Holdings, Inc. Technical Analysis Chart | 8473 | JP3436120004 | MarketScreener
Technical analysis trends SBI HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 2 748,00 JPY
Average target price 3 166,00 JPY
Spread / Average Target 15,2%
EPS Revisions
Managers and Directors
Yoshitaka Kitao President, CEO & Director
Shumpei Morita Senior MD, Head-Finance & Accounting
Katsuya Kawashima COO, Representative Director & Vice President
Masayuki Yamada Director, Manager-Compliance & Legal Affairs
Teruhide Sato Independent Outside Director
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