Debt Forgiveness of Kubotek USA’s PPP Loan
First written in FY2021. 2 of 5 entries say "Restated". Latest entry: FY2022.
2 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「Because the requirements for forgiveness of this loan were met, repayment was waived, and a ¥62.029 million gain on debt forgiveness was recorded as extraordinary income for the fiscal year.」
The forgiveness of Kubotek USA’s PPP loan was confirmed as an annual result, and a ¥62.029 million gain on debt forgiveness was recorded. - FY2022-Q3RestatedAnnual report
「Gain on debt forgiveness - 60,374」
A ¥60 million gain on debt forgiveness related to Kubotek USA’s PPP loan has been recorded as extraordinary income for the nine months ended the third quarter. The debt-forgiveness result disclosed in the previous quarter continues to be disclosed. - FY2022-Q2AdvancedAnnual report
「As a result, consolidated results for the six-month period of the current fiscal year were sales of ¥505 million, up 28.4% year on year, an operating loss of ¥84 million, compared with an operating loss of ¥166 million in the same period of the previous year, and an ordinary loss of ¥86 million, compared with an ordinary loss of ¥171 million in the same period of the previous year. As a result of recognizing ¥59 million in gain on debt forgiveness and other items as extraordinary income, quarterly net loss attributable to owners of the parent was ¥29 million, compared with quarterly net loss attributable to owners of the parent of ¥171 million in the same period of the previous year.」
The Company actually recognized ¥59 million in gain on debt forgiveness on Kubotek USA's PPP loan as extraordinary income during the six-month period of the current fiscal year. - FY2022-Q1AchievedAnnual report
「We met the requirements for forgiveness of this loan and have now received notification that the debt would be forgiven.」
Kubotek USA's US$533,581 PPP loan was forgiven on 20 May 2021, and notification was received on 24 May of the same year. Approximately ¥59 million in gain on debt forgiveness is expected to be recognized as extraordinary income in the second quarter of the consolidated fiscal year. - FY2021First statedAnnual report
「We met the requirements for forgiveness of this loan and have now received notification that the debt would be forgiven.」
The Company states that Kubotek USA's US$533,581 Paycheck Protection Program loan was forgiven as of 20 May 2021, and that approximately ¥59 million in gain on debt forgiveness is expected to be recognized as extraordinary income in the second quarter of the fiscal year ending March 2022.