Tsukamoto Corporation (8025) · InitiativeAdvanced
Waiver of Loans to a Subsidiary with Negative Net Worth Before Merger
First written in FY2019-Q3. 1 of 2 entries say "Advanced", first in FY2019. Latest entry: FY2019.
2entries
1years
0from disclosures
How it moved
Same theme, other companies
Improving Financial Condition through Receivables Waivers for Consolidated SubsidiariesA theme 3 companies write about · 0 as a headwind · 3 as a tailwind
1 other company's latest entry also says "Advanced".
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Full recordFilings, disclosures and news, newest first
- FY2019AdvancedAnnual report
「ツカモト株式会社, ツカモトアパレル株式会社, ツカモトエイム株式会社, 市田株式会社, 塚本倉庫株式会社 and 株式会社創新 have received waivers of part of the Company's receivables.」
The disclosure states that part of the Company's receivables was waived in relation to the companies subject to the absorption-type merger. This indicates progress in the procedure for resolving insolvency and other issues identified before the merger in FY2019-Q3, but does not state the amount waived or whether all conditions were resolved. - FY2019-Q3First statedAnnual report
「ツカモトアパレル株式会社, ツカモトエイム株式会社, ツカモト株式会社, 塚本倉庫株式会社 and 株式会社創新, 5 companies, were insolvent, while ツカモトエイム株式会社 and 市田株式会社, 2 companies, were in a position where a loss on the extinguishment of shares held in the merged subsidiaries would arise. Before the merger, the Company planned to waive part of its loans receivable from these consolidated subsidiaries, eliminate these conditions and then conduct the merger.」
The procedure is described whereby, before the absorption-type merger, the Company would waive part of its loans to 5 or more insolvent companies to eliminate their insolvency.