OHASHI TECHNICA: an overseas subsidiary transferred funds on false instructions from a malicious third party, with an expected loss of about 280 million yen

1. 2023-03-30

   The overseas subsidiary began sending out funds on false instructions from a malicious third party. This continued until April 3. [1] [2]

2. 2023-04-25

   It noticed soon after the transfers that the instructions were false, formed an internal investigation and response team and reported the damage to local investigators. It announced the case, withholding further detail for investigative confidentiality. [1] [2]

The expected loss is 280 million yen, to be booked as an extraordinary loss for the fiscal year ended March 2023. It is working on procedures to preserve and recover the funds. [1] [2]