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Closure (Company Liquidation)Disclosing companyKanda Holdings Co.,Ltd.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
International air and ocean freight forwarding business
Location Bangkok, ThailandShare capital 6,000,000 Thai baht (¥29,280,000) (as of 30 June 2026)Date of incorporation September 2012
Net Sales¥592.830 million (fiscal year ended March 2026)
Operating profitOperating loss of ¥40.015 million (fiscal year ended March 2026)
Net income for the current fiscal yearNet loss of ¥51.436 million (fiscal year ended March 2026)
Net assetsNegative net assets of ¥594.545 million (fiscal year ended March 2026)
Impact on Business Performance
The impact on current-year earnings from the closure (company liquidation) of Pegasus Global Express (Thailand) Co., Ltd. is expected to be immaterial.
Procedures and assumptions
Management structure after acquisitionClosure (company liquidation). Operations to cease at the end of December 2026, liquidation to begin in January 2027, and liquidation expected to be completed in or after July 2028. Change of corporate name and employee treatment: not disclosed
| Item | Details |
|---|---|
| Transaction name | Closure (Company Liquidation) |
| Name of the Subject Company | Pegasus Global Express (Thailand) Co.,Ltd. |
| Business Description of the Subject Company | International air and ocean freight forwarding business |
| Location of the Subject Company | Bangkok, Thailand |
| Capital Stock of the Subject Company | 6,000,000 Thai baht (¥29,280,000) (as of 30 June 2026) |
| Date of Establishment of the Subject Company | September 2012 |
| Net Sales of the Subject Company | ¥592.830 million (fiscal year ended March 2026) |
| Operating Profit of the Subject Company | Operating loss of ¥40.015 million (fiscal year ended March 2026) |
| Net Income of the Subject Company | Net loss of ¥51.436 million (fiscal year ended March 2026) |
| Net Assets of the Subject Company | Negative net assets of ¥594.545 million (fiscal year ended March 2026) |
| Voting rights ownership percentage | Before 49% (after not disclosed) |
| Impact on Business Performance | The impact on current-year earnings from the closure (company liquidation) of Pegasus Global Express (Thailand) Co., Ltd. is expected to be immaterial. |
| Date of board resolution | 25 September 2026 |
| Execution Date / Effective Date | Operations to cease at the end of December 2026; liquidation to begin in January 2027; liquidation expected to be completed in or after July 2028 |
| Management structure after acquisition | Closure (company liquidation). Operations to cease at the end of December 2026, liquidation to begin in January 2027, and liquidation expected to be completed in or after July 2028. Change of corporate name and employee treatment: not disclosed |
Items this document does not state (17)
Counterparty nameAcquisition 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 CommitteeConditions Precedent to Execution
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.The prolonged downturn in the Thai economy, the withdrawal from and downsizing of Japanese companies, inflation and rising labor costs, and the rapid depreciation of the yen against the baht have put pressure on earnings. The Group determined that there was no prospect of a recovery in performance even if the business continued.
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