JTI-Mac, a Canadian Subsidiary: Corporate Creditors' Arrangement Proceedings and Restrictions on the Use of Funds
First written in FY2019-Q2. 2 of 23 entries say "Mitigated", first in FY2025-H1. Latest entry: FY2025.
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- FY2025MitigatedAnnual report
「On 29 August 2025, the plan of arrangement took effect and a comprehensive settlement was reached.」
JTI-Mac's plan of arrangement under the CCAA took effect, and the process moved to implementation of the plan, including payment of the settlement amount and release of claims. - FY2025-H1MitigatedAnnual report
「With respect to the plan of arrangement approved by the Ontario Superior Court on 6 March 2025, procedures toward its implementation are currently under way. The CCAA proceedings are scheduled to end upon the plan's implementation, which includes the payment of settlement amounts and the release of claims.」
With respect to JTI-Mac's proceedings under the Companies' Creditors Arrangement Act, the plan of arrangement has been approved by the court and procedures toward its implementation are under way. The CCAA proceedings are expected to end when the plan takes effect. - FY2024Increase in restricted cash and settlement-related measuresAnnual report
「"Cash and cash equivalents" includes ¥115,779 million for the previous fiscal year and ¥123,169 million for the current fiscal year held by our group's Iranian subsidiary."Cash and cash equivalents held by JTI-Mac amounted to ¥143,791 million for the previous fiscal year and ¥168,111 million for the current fiscal year."」
Cash subject to remittance and fund-use restrictions increased for both the Iranian subsidiary and JTI-Mac. JTI-Mac also recognized a provision in connection with the comprehensive settlement of litigation in Canada. - FY2024-H1Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥153,751 million and ¥171,832 million, respectively, are included in "cash and cash equivalents" at the end of the interim accounting period.」
Cash subject to remittance and fund-use restrictions amounted to ¥153,751 million for the Iranian subsidiary and ¥171,832 million for JTI-Mac, both increasing from the end of March 2024. - FY2024-Q1Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥136,246 million and ¥152,678 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥136,246 million for the Iranian subsidiary and ¥152,678 million for JTI-Mac, both increasing from the end of December 2023. - FY2023Increase in restricted cashAnnual report
「"Cash and cash equivalents" includes ¥79,010 million for the previous fiscal year and ¥115,779 million for the current fiscal year held by our group's Iranian subsidiary."Cash and cash equivalents held by JTI-Mac amounted to ¥99,441 million for the previous fiscal year and ¥143,791 million for the current fiscal year."」
Cash subject to remittance and fund-use restrictions increased from ¥79,010 million to ¥115,779 million for the Iranian subsidiary and from ¥99,441 million to ¥143,791 million for JTI-Mac. - FY2023-Q3Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥116,621 million and ¥137,897 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥116,621 million for the Iranian subsidiary and ¥137,897 million for JTI-Mac, both increasing from the end of December 2022. - FY2023-Q2Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥97,691 million and ¥125,485 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥97,691 million for the Iranian subsidiary and ¥125,485 million for JTI-Mac, both increasing from the end of December 2022. - FY2023-Q1Change in composition of restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥77,404 million and ¥103,832 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥77,404 million for the Iranian subsidiary and ¥103,832 million for JTI-Mac. The Iranian subsidiary's amount decreased from the end of the previous fiscal year, while JTI-Mac's increased. - FY2022Increase in restricted cashAnnual report
「"Cash and cash equivalents" includes ¥70,927 million for the previous fiscal year and ¥79,010 million for the current fiscal year held by our group's Iranian subsidiary."Cash and cash equivalents held by JTI-Mac amounted to ¥74,098 million for the previous fiscal year and ¥99,441 million for the current fiscal year."」
Cash subject to remittance and fund-use restrictions increased from ¥70,927 million to ¥79,010 million for the Iranian subsidiary and from ¥74,098 million to ¥99,441 million for JTI-Mac. - FY2022-Q3Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥98,905 million and ¥103,541 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥98,905 million for the Iranian subsidiary and ¥103,541 million for JTI-Mac, both increasing from the end of the previous quarter. - FY2022-Q2Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥95,449 million and ¥95,188 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥95,449 million for the Iranian subsidiary and ¥95,188 million for JTI-Mac, both increasing from the end of the previous fiscal year. - FY2022-Q1Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥88,012 million and ¥83,182 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥88,012 million for the Iranian subsidiary and ¥83,182 million for JTI-Mac, both increasing from the end of the previous fiscal year. - FY2021Increase in restricted cashAnnual report
「"Cash and cash equivalents" includes ¥42,807 million for the previous fiscal year and ¥70,927 million for the current fiscal year held by our group's Iranian subsidiary.」
Cash held by the Iranian subsidiary subject to remittance restrictions increased from ¥42,807 million to ¥70,927 million. JTI-Mac's amount also increased from ¥43,735 million to ¥74,098 million. - FY2021-Q3Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥75,170 million and ¥63,685 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥75,170 million for the Iranian subsidiary and ¥63,685 million for JTI-Mac, both increasing from the end of the previous quarter. - FY2021-Q2Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥67,955 million and ¥54,827 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥67,955 million for the Iranian subsidiary and ¥54,827 million for JTI-Mac, increasing from the end of the previous quarter. - FY2021-Q1Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥54,935 million and ¥47,507 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥54,935 million for the Iranian subsidiary and ¥47,507 million for JTI-Mac, increasing from the end of the previous fiscal year. - FY2020Increase in restricted cashAnnual report
「"Cash and cash equivalents" includes ¥48,675 million for the previous fiscal year and ¥42,807 million for the current fiscal year held by our group's Iranian subsidiary."Cash and cash equivalents held by JTI-Mac amounted to ¥19,085 million for the previous fiscal year and ¥43,735 million for the current fiscal year."」
Cash subject to remittance and fund-use restrictions amounted to ¥42,807 million for the Iranian subsidiary and ¥43,735 million for JTI-Mac. - FY2020-Q3Change in composition of restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥39,656 million and ¥40,895 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to restrictions on the use and remittance of funds amounted to ¥39,656 million for the Iranian subsidiary and ¥40,895 million for JTI-Mac. The Iranian subsidiary's amount decreased from the previous quarter, while JTI-Mac's increased. - FY2020-Q2Increase in restricted cashAnnual report
「Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥49,440 million and ¥33,788 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
Cash subject to remittance and fund-use restrictions amounted to ¥49,440 million for the Iranian subsidiary and ¥33,788 million for JTI-Mac, increasing from the end of the previous quarter. - FY2020-Q1Increase in restricted cashAnnual report
「Due to international sanctions and other measures against Iran, our group's Iranian subsidiary is currently experiencing difficulty remitting funds outside Iran. In addition, our Canadian subsidiary, JTI-Macdonald Corp. (JTI-Mac), is subject to the Companies' Creditors Arrangement Act and is subject to certain restrictions on the use of funds other than in its ordinary business activities. Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥48,995 million and ¥25,310 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
The difficulty faced by the Iranian subsidiary in remitting funds and JTI-Mac's restrictions on the use of funds continued, and restricted cash of ¥48,995 million and ¥25,310 million, respectively, was disclosed. - FY2019RestatedAnnual report
「Our Canadian subsidiary, JTI-Mac, is continuing its business with its operating assets protected under the Companies' Creditors Arrangement Act.」
JTI-Mac remains subject to the Companies' Creditors Arrangement Act, with restrictions on the use of funds other than for ordinary business activities and a stay on legal proceedings continuing. - FY2019-Q2First statedAnnual report
「In addition, our Canadian subsidiary, JTI-Macdonald Corp. (JTI-Mac), is subject to the Companies' Creditors Arrangement Act and is subject to certain restrictions on the use of funds other than in its ordinary business activities. Cash and cash equivalents held by our group's Iranian subsidiary and JTI-Mac, amounting to ¥31,344 million and ¥10,269 million, respectively, are included in "cash and cash equivalents" at the end of the quarter.」
The company newly disclosed that its Canadian subsidiary, JTI-Mac, is subject to the Companies' Creditors Arrangement Act and is restricted from using funds other than for ordinary business activities.