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Seven-Eleven bank stumbles to loss on US ATM rollout

Cash machines fail to draw users as well as in Japan

Travelers use a Seven Bank ATM in Tokyo. The bank has a network of over 24,000 cash machines in Japan.

TOKYO -- Seven Bank, part of one of Japan's biggest retail groups, said on Friday it will book 14.6 billion yen ($131 million) in write-downs and slashed its full-year earnings forecast after stumbling in an attempt to duplicate its convenience store ATM network in the U.S.

The unit of Seven & i Holdings now expects a 12.8 billion yen profit for the year ending next March, down from an earlier forecast of 26.8 billion yen. It forecasts a 500 million yen loss for the six months ending Sept. 30.

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