Termination of Consulting Agreement with Major Shareholder, etc.
First written in FY2022-Q2. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2025: 6 of 28 companies on the "Worse" side.
51 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「Selling, general and administrative expenses for the nine-month period included contract termination fees of ¥1,482 million resulting from the termination, in accordance with the terms of the agreements, of the consulting agreements with Kohlberg Kravis Roberts & Co. L.P., MITSUI & CO.,LTD., and 生命科学インスティテュート on 7 September 2021. There was no unpaid balance for these expenses at the end of the nine-month period.」
The company recorded contract termination fees of ¥1,482 million associated with the termination of the consulting agreements and reconfirmed that there was no unpaid balance. - FY2022-Q2First statedAnnual report
「The company entered into consulting agreements with 4 shareholders and others, including Kohlberg Kravis Roberts & Co L.P., and paid the 4 parties a total of ¥450 million annually in advisory fees. The agreements were terminated in September 2021. When the agreements were terminated and certain conditions were met, the contractually specified amounts were payable in a lump sum, and payments totaling ¥1,482 million have been completed to 3 shareholders and others excluding Panasonic Corporation.」
The annual advisory fee agreements were terminated, and payment of ¥1,482 million associated with the termination was completed.