Fujikura Ltd.
Notice Regarding Debt Forgiveness to Biscas Corporation
Resolution on March 27, 2026, to forgive long-term loans receivable amounting to 8,266 million yen to Biscas Corporation. The impact on consolidated net assets is minor at 1.9%.
Key Figures
- Amount of Debt Forgiveness: 8,266 million yen (long-term loans receivable)
- Debt Forgiveness Ratio: 1.9% relative to consolidated net assets
- Net Assets of Biscas: -15,951 million yen (as of March 31, 2025)
AI要約
Background and Details of Debt Forgiveness
Furukawa Electric Co., Ltd. resolved at the Board of Directors meeting on March 27, 2026, to forgive long-term loans receivable of 8,266 million yen from Biscas Corporation, an equity-method affiliate, due to its dissolution. Biscas is a joint venture equally funded by Furukawa Electric and Furukawa Electric Co., Ltd. The two parties agreed to end the joint venture business on October 1, 2016, and had been working toward winding down operations. This debt forgiveness is based on mutual agreement, and Biscas will be dissolved effective March 31, 2026.
Financial Impact and Future Outlook
The debt forgiveness amount of 8,266 million yen has already been recorded as a provision for doubtful accounts in prior periods, and thus the impact on the individual and consolidated results for the fiscal year ending March 2026 is minimal. As of March 31, 2025, Biscas' net assets stand at -15,951 million yen and total assets at 1,463 million yen, indicating a limited effect on the Company's consolidated financials. The Company will proceed with completing the dissolution procedures for Biscas.
