Latest Tokyo Brief coverage on AI storm CO.,LTD., tracking filings, financial news, and market signals from Japan.
TSE:3719
Some used trucks bought by FinTech Global's investor funds were never re-registered in the funds' name, a special probe into operator AI Storm found, and the Tokyo firm still cannot say what it will cost.
A tip-off about past used-truck sales has widened into a three-fiscal-year accounting correction at AI storm, forcing the company to delay its quarterly results to November and consider a statutory filing extension while its auditor withholds sign-off.
ES Next quit as AI storm's statutory auditor after discovering pre-existing allegations tied to used-truck sales that predate its own appointment, and Frontier Audit Corporation, a firm AI storm had cycled through as recently as March, has returned as temporary auditor while a special committee investigates.
Hong Kong-based DYNAMIC BEST GROUP disclosed a 9.50% stake, or 3,044,400 shares, and said the position was funded with ¥608.88 million of its own money. The filing states the purpose as pure investment, not a control push.