Commencement of bankruptcy proceedings for a consolidated subsidiary
Kyokuyo (Thailand) Co., Ltd. (KKT)
KKT had been sued by Krung Thai Bank Company Limited for payment of factoring receivables and was ordered to pay 279 million baht plus interest accruing from the judgment date onward
Related procedures
Bankruptcy proceedings (bankruptcy administration order); lawsuit seeking payment of factoring receivables
Court in Thailand (the previous judgment was issued by the Supreme Court of Thailand)
Krung Thai Bank Company Limited
Kyokuyo (Thailand) Co., Ltd. (KKT)
279 million baht plus interest accruing from the judgment date onward
No additional loss will arise. The provision for litigation losses has already been fully recognized, including interest accruing from the judgment date onward
Company response
Dormant (the scope of suspended shipments, production and sales has not been disclosed)
The bankruptcy proceedings are expected to proceed under the management of a bankruptcy administrator. Once the court renders a bankruptcy judgment, KKT's assets are expected to be disposed of and distributed to creditors
| Item | Details |
|---|---|
| Event name | Commencement of bankruptcy proceedings for a consolidated subsidiary |
| Date of occurrence | 27 April 2026 (the date on which a court in Thailand issued the bankruptcy administration order) |
| Date recognized / date notice received | 27 April 2026 (the date on which the Company received the bankruptcy administration order from the court) |
| Subject Entity | Kyokuyo (Thailand) Co., Ltd. (KKT) |
| Cause | KKT had been sued by Krung Thai Bank Company Limited for payment of factoring receivables and was ordered to pay 279 million baht plus interest accruing from the judgment date onward |
| Amount of Impact on Business Performance | No additional loss will arise. The provision for litigation losses has already been fully recognized, including interest accruing from the judgment date onward |
| Type of litigation or proceeding | Bankruptcy proceedings (bankruptcy administration order); lawsuit seeking payment of factoring receivables |
| Court or authority | Court in Thailand (the previous judgment was issued by the Supreme Court of Thailand) |
| Plaintiff | Krung Thai Bank Company Limited |
| Defendant | Kyokuyo (Thailand) Co., Ltd. (KKT) |
| Date of filing / date of action | 27 April 2026 (the date the bankruptcy administration order was issued) |
| Claim amount / surcharge amount | 279 million baht plus interest accruing from the judgment date onward |
| Suspended operations | Dormant (the scope of suspended shipments, production and sales has not been disclosed) |
| Outlook | The bankruptcy proceedings are expected to proceed under the management of a bankruptcy administrator. Once the court renders a bankruptcy judgment, KKT's assets are expected to be disposed of and distributed to creditors |
Items this document does not state (11)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company has no receivables from KKT, and has already fully recognized a provision for litigation losses, including interest accruing from the judgment date onward, in its consolidated financial statements. As no additional loss will arise, the Company considers the impact of this matter to be immaterial.