Hatena shares hit with a rush of sell orders, leaving them untraded all day amid shock over "1.1 billion yen outflow"

Hatena disclosed that a third party used false payment instructions to move company funds out of bank accounts on April 20 and 21.

The potential loss could reach about 1.1 billion yen, a figure large relative to its annual operating profit.

After the announcement, Hatena’s shares fell to the daily lower limit of 881 yen and did not trade for the rest of the day.

The incident on TSE Growth triggered immediate investor concern over the company’s financial impact.