Financial Risks Relating to a Subsidiary with Negative Net Worth
First written in FY2016. 5 of 8 entries say "Mitigated", first in FY2017. Latest entry: FY2022-Q3.
The whole theme swung hardest in 2020: 18 of 46 companies on the "Worse" side.
28 other companies' latest entry also says "Mitigated".
- FY2022-Q3MitigatedAnnual report
「After completing the payment procedures described in 6 above, グリーン開発㈱ petitioned the Nagano District Court to conclude the special liquidation proceedings. The court issued an order concluding the proceedings on 10 November 2021, which became final on 4 December of the same year following the required procedures. The conclusion was entered ex officio in the company's registry, which was subsequently closed on 6 December. This brought the special liquidation proceedings of グリーン開発㈱ to a close.」
For the insolvent subsidiary, the order concluding the special liquidation proceedings became final following completion of payments to creditors, and the company's registry was closed. The response to the financial risk associated with the insolvent subsidiary progressed to its final stage. - FY2022-Q1MitigatedAnnual report
「菅平峰の原グリーン開発株式会社, a consolidated subsidiary of the Company undergoing special liquidation proceedings, completed repayment to creditors on 2 August 2021 in accordance with the repayment rate stipulated in the special liquidation agreement.」
For the insolvent subsidiary that operated the golf business, the completion of payments to creditors under the special liquidation agreement was disclosed as a subsequent event occurring after the filing date, marking further progress in addressing financial risk. - FY2021MitigatedAnnual report
「The necessary procedures are currently under way to complete the liquidation during the fiscal year ending March 2022.」
For the subsidiary with negative net assets, the Group has moved to the stage of transferring the golf business and proceeding with special liquidation, with the aim of completing the liquidation during the fiscal year ending March 2022. - FY2021-Q3WorsenedAnnual report
「Net assets ▲1,565,454 ▲194,219 ▲266,494」
The net assets of the consolidated subsidiary operating the golf business were negative by ¥266.494 million in the fiscal year ended March 2020, with the amount of negative net assets increasing from ¥194.219 million in the fiscal year ended March 2019. The subsidiary also received a decision to commence special liquidation proceedings, and procedures are under way to complete the liquidation during the following fiscal year. - FY2019MitigatedAnnual report
「In consideration of the asset position of the consolidated subsidiary with declining profitability, the Group provided funds and waived receivables, among other measures,」
The Group provided ¥433.787 million in funds to the subsidiary with negative net assets and waived ¥916.213 million in receivables, providing financial support and reducing its burden. There is no description indicating that the negative net asset position has been resolved. - FY2018WorsenedAnnual report
「Company with negative net assets. Negative net assets of ¥1,565.454 million.」
The amount of negative net assets has increased from the previously reported ¥1,445.471 million to ¥1,565.454 million. - FY2017MitigatedAnnual report
「Company with negative net assets. Negative net assets of ¥1,445.471 million.」
The negative net asset position continues, but the amount of negative net assets has declined from the previously reported ¥1,470.616 million to ¥1,445.471 million. - FY2016First statedAnnual report
「Company with negative net assets. Negative net assets of ¥1,470.616 million.」
Discloses the negative net asset position and amount for 菅平峰の原グリーン開発株式会社.