Kyokuyo Co., Ltd.
Notice Regarding Commencement of Bankruptcy Proceedings for Consolidated Subsidiary
The consolidated subsidiary Kyokuyo (Thailand) Co., Ltd. has received a bankruptcy trustee order from the Thai court, commencing bankruptcy proceedings with total liabilities of 291 million baht (approximately 1,446 million yen).
Key Figures
- Total Liabilities: 291 million baht (approximately 1,446 million yen, as of end of December 2025)
- Net Assets: -210 million baht (as of end of December 2025)
- Net Income: -9 million baht (Fiscal year ending December 2025)
AI要約
Regarding Commencement of Bankruptcy Proceedings of Consolidated Subsidiary
Our consolidated subsidiary Kyokuyo (Thailand) Co., Ltd. (KKT) was ordered by the Supreme Court on October 7, 2024, to pay 279 million baht plus interest from the judgment date, following a factoring claim lawsuit filed by Krung Thai Bank Company Limited in Thailand. On April 27, 2026, the Thai court issued a bankruptcy trustee order, and the bankruptcy proceedings will proceed under the management of the trustee.
Financial Condition and Impact on Our Company
As of the end of December 2025, KKT’s total liabilities amounted to 291 million baht (approximately 1,446 million yen), and net assets stood at -210 million baht. Our company has already recorded an impairment loss on KKT’s shares, carrying a memorandum value of 1 yen, and holds no receivables against KKT. In the consolidated financial statements, a full provision for litigation losses has been recorded. Therefore, no new loss is expected, and the impact of the commencement of bankruptcy proceedings is judged to be minimal.
Kyokuyo Co., Ltd.
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