Japan's KDDI shares slide nearly 4% after giant mobile network outage [Financial Post (Toronto, Ontario, Canada)]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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Source: Financial Post
In a statement issued at 9:00 a.m. local time (0000 GMT) on Monday KDDI said data transmission had been broadly restored, but users might still experience difficulty in making voice calls due to service restrictions. The disruption, which began in the early hours of Saturday morning, was caused by an equipment malfunction and affected services ranging from weather data to parcel delivery and banking. The outage at a pillar of Japan’s corporate establishment is the latest sign of strain on infrastructure in the world’s third-biggest economy, after its power grid creaked during a heatwave last weak, though blackouts were narrowly avoided. The KDDI disruption came just days before an election to the upper house of Japan’s parliament. Prime Minister Fumio Kishida is promoting digital infrastructure as part of his “new capitalism” agenda to invigorate the economy. By the midday break in Tokyo trading KDDI shares had regained some lost ground, but were still down 1.8%, compared with a 0
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MFG
Sec Filings
- 2/26/24 - Form 6-K
- 2/22/24 - Form 6-K
- 2/22/24 - Form 6-K
- MFG's page on the SEC website