Waiver of Receivables by a Consolidated Subsidiary from a Sub-subsidiary
Edutech Lab, Inc. (ETL, the Company's consolidated subsidiary) and DoubleYard Europe Limited (DYEU, the Company's sub-subsidiary and a wholly owned subsidiary of ETL)
Preparations are being made for DYEU's liquidation as part of the optimization of management resources, and this is a necessary measure for that purpose.
ETL will record a special loss of €190,000, including a bad debt loss, in its standalone financial statements, while DYEU will record an equal amount of extraordinary income from debt forgiveness in its standalone financial statements. The amounts will be offset and eliminated in the consolidated accounts, resulting in no impact on consolidated results.
There will be no impact on the Company's consolidated results, including net income attributable to owners of the parent.
€190,000 (approximately ¥35 million), counterparty: DoubleYard Europe Limited
Related procedures
Preparations for the dissolution and liquidation of DYEU (before the formal resolutions on dissolution and liquidation)
Formal resolutions concerning DYEU's dissolution and liquidation will be adopted and disclosed separately once the necessary preparations are complete. The dates of the shareholders' meeting and other meetings relating to the dissolution and liquidation will be announced separately once determined.
The Company plans to adopt and disclose formal resolutions concerning DYEU's dissolution and liquidation once the necessary preparations are complete.
| Item | Details |
|---|---|
| Event name | Waiver of Receivables by a Consolidated Subsidiary from a Sub-subsidiary |
| Date of occurrence | 30 April 2026 (the date of the Board of Directors' resolution; the waiver is scheduled to take effect on the same date) |
| Subject Entity | Edutech Lab, Inc. (ETL, the Company's consolidated subsidiary) and DoubleYard Europe Limited (DYEU, the Company's sub-subsidiary and a wholly owned subsidiary of ETL) |
| Cause | Preparations are being made for DYEU's liquidation as part of the optimization of management resources, and this is a necessary measure for that purpose. |
| Amount of Impact on Business Performance | ETL will record a special loss of €190,000, including a bad debt loss, in its standalone financial statements, while DYEU will record an equal amount of extraordinary income from debt forgiveness in its standalone financial statements. The amounts will be offset and eliminated in the consolidated accounts, resulting in no impact on consolidated results. |
| Impact on Earnings Forecast | There will be no impact on the Company's consolidated results, including net income attributable to owners of the parent. |
| Type of litigation or proceeding | Preparations for the dissolution and liquidation of DYEU (before the formal resolutions on dissolution and liquidation) |
| Amount of receivables at risk of non-collection or delayed collection | €190,000 (approximately ¥35 million), counterparty: DoubleYard Europe Limited |
| Outlook | Formal resolutions concerning DYEU's dissolution and liquidation will be adopted and disclosed separately once the necessary preparations are complete. The dates of the shareholders' meeting and other meetings relating to the dissolution and liquidation will be announced separately once determined. |
| Planned follow-up disclosure | The Company plans to adopt and disclose formal resolutions concerning DYEU's dissolution and liquidation once the necessary preparations are complete. |
Items this document does not state (15)
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.As part of the optimization of management resources, preparations are being made for DYEU's liquidation. ETL will therefore waive the full amount of its loan receivable from DYEU as a necessary measure.