Worth reading
63In focus
Scored from 4 of 5 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
Liquidation of a Specified SubsidiaryCounterpartyTSK of AMERICA INC.
Disclosing companyHI-LEX CORPORATION
Date of board resolution1 August 2025
Execution Date / Effective Date現地の法令に基づく解散決議および必要な手続き完了後に清算結了となる見込み（具体的な日付は未定）
Target company
Manufacture and sale of control cables for automobiles and window regulators
Location Barcelona, Catalonia, SpainShare capital ３千ユーロ（０百万円相当額）Date of incorporation 2016 年５月
Net Sales12,760千ユーロ（2024年10月期）
Operating profit757千ユーロ（2024年10月期）
Net income for the current fiscal year△350千ユーロ（2024年10月期）
Net assets△39,261千ユーロ（2024年10月期）
Impact on Business Performance
清算関連費用等の発生を見込んでいるが、詳細は現在精査中
Procedures and assumptions
Conditions Precedent to Execution現地の法令に基づく解散決議および必要な手続きの完了
| Item | Details |
|---|---|
| Transaction name | Liquidation of a Specified Subsidiary |
| Counterparty name | TSK of AMERICA INC. |
| Name of the Subject Company | HI-LEX AUTO PARTS SPAIN, S.L. |
| Business Description of the Subject Company | Manufacture and sale of control cables for automobiles and window regulators |
| Location of the Subject Company | Barcelona, Catalonia, Spain |
| Capital Stock of the Subject Company | ３千ユーロ（０百万円相当額） |
| Date of Establishment of the Subject Company | 2016 年５月 |
| Net Sales of the Subject Company | 12,760千ユーロ（2024年10月期） |
| Operating Profit of the Subject Company | 757千ユーロ（2024年10月期） |
| Net Income of the Subject Company | △350千ユーロ（2024年10月期） |
| Net Assets of the Subject Company | △39,261千ユーロ（2024年10月期） |
| Voting rights ownership percentage | Before 100.0％（TSK of AMERICA INC.による出資） (after not disclosed) |
| Impact on Business Performance | 清算関連費用等の発生を見込んでいるが、詳細は現在精査中 |
| Date of board resolution | 1 August 2025 |
| Execution Date / Effective Date | 現地の法令に基づく解散決議および必要な手続き完了後に清算結了となる見込み（具体的な日付は未定） |
| Conditions Precedent to Execution | 現地の法令に基づく解散決議および必要な手続きの完了 |
Items this document does not state (16)
Acquisition 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.HLESは経営改善を続けても黒字化に至らず財務状態が悪化したほか、欧州自動車市場の減少傾向、HLESの中長期的な収益性、グループ全体の生産体制の最適化を総合的に検討した結果、清算を決定したとしています。
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