ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more