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Dissolution and liquidation of IACDisclosing companyICHIKAWA CO.,LTD.
Date of board resolution31 March 2026
Execution Date / Effective DateThe liquidation is expected to be completed once the procedures required under local laws and regulations have been completed (specific date not yet determined).
Target company
Sales of paper machine felts, slate felts, and paper machine belts
Location ThailandShare capital THB 2 millionDate of incorporation 1 July 2018
Net Sales¥390 million (fiscal year ended March 2025)
Operating profit¥20 million (fiscal year ended March 2025)
Net income for the current fiscal year¥13 million (fiscal year ended March 2025)
Net assets¥153 million (fiscal year ended March 2025)
Impact on Business Performance
The impact of this matter on the Company's consolidated results is currently under review.
Procedures and assumptions
Conditions Precedent to ExecutionCompletion of the procedures required under local laws and regulations
Management structure after acquisitionIAC will be dissolved and liquidated. Going forward, the Company will provide sales and technical services from Japan through local agents in the sales network it has established.
| Item | Details |
|---|---|
| Transaction name | Dissolution and liquidation of IAC |
| Name of the Subject Company | ICHIKAWA ASIA CO., LTD. |
| Business Description of the Subject Company | Sales of paper machine felts, slate felts, and paper machine belts |
| Location of the Subject Company | Thailand |
| Capital Stock of the Subject Company | THB 2 million |
| Date of Establishment of the Subject Company | 1 July 2018 |
| Net Sales of the Subject Company | ¥390 million (fiscal year ended March 2025) |
| Operating Profit of the Subject Company | ¥20 million (fiscal year ended March 2025) |
| Net Income of the Subject Company | ¥13 million (fiscal year ended March 2025) |
| Net Assets of the Subject Company | ¥153 million (fiscal year ended March 2025) |
| Voting rights ownership percentage | Before 49% (major shareholder and shareholding ratio) (after not disclosed) |
| Impact on Business Performance | The impact of this matter on the Company's consolidated results is currently under review. |
| Date of board resolution | 31 March 2026 |
| Execution Date / Effective Date | The liquidation is expected to be completed once the procedures required under local laws and regulations have been completed (specific date not yet determined). |
| Conditions Precedent to Execution | Completion of the procedures required under local laws and regulations |
| Management structure after acquisition | IAC will be dissolved and liquidated. Going forward, the Company will provide sales and technical services from Japan through local agents in the sales network it has established. |
Items this document does not state (16)
Counterparty nameAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Contract DateValuation methodologyIndependent valuation institutionSpecial Committee
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 believes that IAC has achieved the purpose for which it was established. The liquidation is intended to enable the Group to use its management resources more efficiently, shift to a more profitable earnings structure, and enhance corporate value.
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