Notice Regarding the Board of Directors’ Resolution Concerning the Petition for Dismissal of Our Bankruptcy Trustee

Overview

ToShin Holdings Co., Ltd. announced on May 8, 2026, and at the June 5, 2026 board meeting resolved to file for the removal of the trustee. The reasons cited include concerns about the reliability and fairness of the trustee in carrying out duties, and the decision is explained with consideration of the results of the extraordinary general meeting of shareholders. The scheduling of the future filing date is undetermined. On the trustee side, in their opinion statement, they argue there is no reason for removal and intend to continue to implement the rehabilitation plan and promote the corporate reorganization procedure.

Impact and outlook

The removal filing could affect the company's rehabilitation plan and internal governance improvements, with attention on the results of the extraordinary shareholders meeting and the selection of a new trustee. Since the filing date is currently undetermined, it is expected to take time to finalize specific timelines and the scope of impact. For investors, progress of the rehabilitation plan and the stability of governance directly affect financial soundness and shareholder value, so ongoing disclosure developments should be monitored.