Worth reading
38Recurring
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How definitive the wording is.This transaction
Dissolution and liquidation of a consolidated subsidiaryDisclosing companyPAPYLESS CO.,LTD.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
i. Development of Webtoon content and services ii. Production of original content
Location Shinagawa Ward, TokyoShare capital ¥290 millionDate of incorporation 22 May 2023
Net Sales¥0 million (fiscal year ended March 2026)
Operating profitOperating loss (△): △¥282 million (fiscal year ended March 2026)
Net income for the current fiscal yearNet loss (△): △¥282 million (fiscal year ended March 2026)
Net assets¥45 million (fiscal year ended March 2026)
Impact on Business Performance
The impact of the dissolution of the consolidated subsidiary on consolidated results for the fiscal year ending March 2027 will be immaterial.
Procedures and assumptions
Conditions Precedent to ExecutionDissolution resolution at an extraordinary general meeting of shareholders of the consolidated subsidiary
| Item | Details |
|---|---|
| Transaction name | Dissolution and liquidation of a consolidated subsidiary |
| Name of the Subject Company | JadeComiX Co., Ltd. |
| Business Description of the Subject Company | i. Development of Webtoon content and services ii. Production of original content |
| Location of the Subject Company | Shinagawa Ward, Tokyo |
| Capital Stock of the Subject Company | ¥290 million |
| Date of Establishment of the Subject Company | 22 May 2023 |
| Net Sales of the Subject Company | ¥0 million (fiscal year ended March 2026) |
| Operating Profit of the Subject Company | Operating loss (△): △¥282 million (fiscal year ended March 2026) |
| Net Income of the Subject Company | Net loss (△): △¥282 million (fiscal year ended March 2026) |
| Net Assets of the Subject Company | ¥45 million (fiscal year ended March 2026) |
| Voting rights ownership percentage | Before 60% (after not disclosed) |
| Impact on Business Performance | The impact of the dissolution of the consolidated subsidiary on consolidated results for the fiscal year ending March 2027 will be immaterial. |
| Date of board resolution | 15 July 2026 |
| Execution Date / Effective Date | 31 August 2026 (scheduled): dissolution resolution at an extraordinary general meeting of shareholders of the consolidated subsidiary; during the fiscal year ending March 2027 (scheduled): completion of the liquidation |
| Conditions Precedent to Execution | Dissolution resolution at an extraordinary general meeting of shareholders of the consolidated subsidiary |
Items this document does not state (17)
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 CommitteeManagement structure after acquisition
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 purpose is to improve management efficiency across the Group and reorganize the business to strengthen competitiveness.
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