Shift forecasts strong growth despite Infinic subsidy fraud, strategic acquisitions

Shift (TSE:3697) announced its financial results for the six months ended February 28, 2025, forecasting net sales of ¥130,000 million, a 17.5% increase, for the fiscal year ending August 31, 2025. This optimistic outlook comes despite the company having discovered a fraudulent subsidy application at its consolidated subsidiary, Infinic Inc., which led to the dismissal of Infinic's Representative Director. Shift is working with local government and implementing stronger oversight at Infinic.