Strengthening HMT-A’s Financial Position and Avoiding Foreign Exchange Risk Through a Debt-Equity Swap of the Loan to HMT-A
First written in FY2022. 1 of 2 entries say "Achieved", first in FY2023. Latest entry: FY2023.
0 other companies' latest entry also says "Achieved".
- FY2023AchievedAnnual report
「On 24 August 2022, the company decided to acquire shares in its consolidated subsidiary Human Metabolome Technologies America, Inc. through an in-kind contribution of its loan to the subsidiary, in the form of a debt-to-equity swap, and carried out the transaction on 31 August 2022.」
A debt-to-equity swap was completed by contributing the ¥207.945 million loan to HMT-A in kind and converting it into equity, strengthening the subsidiary’s financial base. - FY2022First statedAnnual report
「This debt-to-equity swap is being carried out to reduce the debt of the consolidated subsidiary, strengthen its financial position, and avoid the risk of foreign exchange gains or losses arising from future exchange-rate fluctuations. The company will convert the entire amount of its loan to the subsidiary into equity through a debt-to-equity swap, thereby capitalizing the loan as an equity contribution.」
The company converted its US dollar-denominated loan of US$1,500,000 to HMT-A into equity on 31 August 2022. The company’s ownership ratio remained 100% after the capital increase.