Waiver of receivables from a consolidated subsidiary
TT TECH COMPANY LIMITED (a consolidated subsidiary of the filing company; the Company’s ownership interest: 100%)
Planning and development of applications. Location: Lot A2.6c, 2nd floor, Tower A, Golden Palace Building, Me Tri Street, Tu Liem Ward, Hanoi City, Vietnam
As development technologies and environments, including AI, continue to evolve rapidly, the Company reviewed the Group’s development structure and determined that TT TECH had fulfilled its original role within the Group to a certain extent.
Receivables waived: ¥30,340,274. A ¥25 million allowance for doubtful accounts was recorded in prior fiscal years, and the Company plans to record ¥5 million in non-operating expenses in its standalone financial statements for the current fiscal year. There will be no impact on the consolidated financial statements.
The third quarter of the fiscal year ending December 2026
The impact on the standalone financial results for the current fiscal year will be immaterial. There will be no impact on consolidated results.
Related procedures
TT TECH’s dissolution and liquidation procedures (scheduled for the future)
The receivables are scheduled to be waived on 8 October 2026. The Company will proceed with TT TECH’s dissolution and liquidation procedures.
| Item | Details |
|---|---|
| Event name | Waiver of receivables from a consolidated subsidiary |
| Date of occurrence | 29 September 2026 (date of the resolution to waive the receivables; scheduled implementation date: 8 October 2026) |
| Date recognized / date notice received | 29 September 2026 (date on which the Company resolved at its executive committee meeting to waive the receivables) |
| Subject Entity | TT TECH COMPANY LIMITED (a consolidated subsidiary of the filing company; the Company’s ownership interest: 100%) |
| Target Locations / Products | Planning and development of applications. Location: Lot A2.6c, 2nd floor, Tower A, Golden Palace Building, Me Tri Street, Tu Liem Ward, Hanoi City, Vietnam |
| Cause | As development technologies and environments, including AI, continue to evolve rapidly, the Company reviewed the Group’s development structure and determined that TT TECH had fulfilled its original role within the Group to a certain extent. |
| Amount of Impact on Business Performance | Receivables waived: ¥30,340,274. A ¥25 million allowance for doubtful accounts was recorded in prior fiscal years, and the Company plans to record ¥5 million in non-operating expenses in its standalone financial statements for the current fiscal year. There will be no impact on the consolidated financial statements. |
| Accounting period in which recognized | The third quarter of the fiscal year ending December 2026 |
| Impact on Earnings Forecast | The impact on the standalone financial results for the current fiscal year will be immaterial. There will be no impact on consolidated results. |
| Type of litigation or proceeding | TT TECH’s dissolution and liquidation procedures (scheduled for the future) |
| Outlook | The receivables are scheduled to be waived on 8 October 2026. The Company will proceed with TT TECH’s dissolution and liquidation procedures. |
Items this document does not state (14)
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.Following a review of the development structure in light of the rapid evolution of development technologies and environments, including AI, the Company determined that TT TECH had fulfilled its original role within the Group to a certain extent. The waiver of the receivables will put the company’s financial position in order and facilitate its dissolution and liquidation procedures.