Forgiveness of the U.S. Subsidiary’s PPP Loan Debt
First written in FY2021-Q3. . Latest entry: FY2022-Q2.
7 other companies' latest entry also says "Other".
- FY2022-Q2Updated income related to PPP loan forgivenessAnnual report
「VALUENEX, Inc., primarily a consolidated subsidiary of the company, applied for and borrowed under the Paycheck Protection Program loan, a U.S. employment protection policy related to COVID-19. Because the loan proceeds were used to pay employee wages and other expenses for employment protection, as required for loan forgiveness, repayment of the borrowing was forgiven.」
The company restated that the U.S. subsidiary's PPP loan was forgiven because the proceeds were used for wages and other expenses intended to protect employment, and grant income for the second quarter cumulative period amounted to ¥13.356 million. - FY2022-Q1Updated income related to PPP loan forgivenessAnnual report
「VALUENEX, Inc., a consolidated subsidiary of the company, applied for and borrowed under the Paycheck Protection Program loan, a U.S. employment protection policy related to COVID-19. Because the loan proceeds were used to pay employee wages and other expenses for employment protection, as required for loan forgiveness, repayment of the borrowing was forgiven.」
The company restated that the U.S. subsidiary's PPP loan was forgiven because the proceeds were used for wages and other expenses intended to protect employment, and recorded grant income of ¥13.023 million in the first quarter. - FY2021-Q3First statedAnnual report
「VALUENEX, Inc., primarily a consolidated subsidiary of the company, applied for and borrowed under the Paycheck Protection Program loan, a U.S. employment protection policy related to COVID-19. Because the loan proceeds were used to pay employee wages and other expenses for employment protection, as required for loan forgiveness, repayment of the borrowing was forgiven.」
The U.S. subsidiary's Paycheck Protection Program loan was forgiven because the proceeds were used for wages and other expenses intended to protect employment, and grant income of ¥16.351 million was recorded.