Decision and Details
Tokyo High Court and Tokyo District CourtDecisions dismissing the shareholders’ immediate appeals against the order commencing corporate reorganization proceedings and decisions dismissing the petitions to dismiss the administrator
The likelihood that inability to pay debts will arise; the fact that it is not clear that there is no prospect of preparing, adopting or obtaining approval for a reorganization plan; the certain rationality of choosing corporate reorganization proceedings and limiting the influence of shareholders; the fact that the petitions were not made for improper or bad-faith purposes; and the absence of any procedural violation under the Companies Act.
| Item | Details |
|---|---|
| Matter Covered | Decisions dismissing the shareholders’ immediate appeals against the order commencing corporate reorganization proceedings and decisions dismissing the petitions to dismiss the administrator |
| Decision-Making Body | Tokyo High Court and Tokyo District Court |
| Decision Date | Decision by the Tokyo High Court dismissing the immediate appeals: 28 July 2026. Decisions dismissing the petitions to dismiss the administrator: 16 July 2026 and 27 July 2026. |
| Implementation Date | Both immediate appeals have been dismissed. The corporate reorganization proceedings and the administrator’s appointment will continue. |
| Amount | Appeal costs: To be borne by each appellant |
| Quantity / scale | 2 appellants (株式会社ジェット and Ishida Yukari (石田ゆかり)). The petitioners seeking the dismissal of the administrator were Ishida Yukari (石田ゆかり) and 4 employees. |
| Reason | The likelihood that inability to pay debts will arise; the fact that it is not clear that there is no prospect of preparing, adopting or obtaining approval for a reorganization plan; the certain rationality of choosing corporate reorganization proceedings and limiting the influence of shareholders; the fact that the petitions were not made for improper or bad-faith purposes; and the absence of any procedural violation under the Companies Act. |
| Governing Rule | Article 17, Paragraph 1, Item 1 of the Corporate Reorganization Act |
| Related previous disclosures | “Notice Concerning an Immediate Appeal by a Shareholder Against the Order Commencing Corporate Reorganization Proceedings,” dated 12 June 2026; “(Correction) Partial Correction to ‘Notice Concerning an Immediate Appeal by a Shareholder Against the Order Commencing Corporate Reorganization Proceedings,’” dated 15 June 2026; “Notice Concerning a Board Resolution on the Petition to Dismiss the Administrator of the Company,” dated 9 June 2026; “The ‘株式会社トーシンホールディングス Rehabilitation Plan,’” dated 8 May 2026; and “Notice Concerning the Publication of the Improvement Plan and Status Report,” dated 26 May 2026 |
| Future plans | The Company will pursue rehabilitation by implementing the rehabilitation plan and address issues including improvements to its internal control system in accordance with the improvement plan. |
Items this document does not state (2)
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 Tokyo High Court cited, among other reasons, the likelihood of inability to pay debts and the existence of grounds under Article 17, Paragraph 1, Item 1 of the Corporate Reorganization Act; the fact that it was not clear that there was no prospect of preparing, adopting or obtaining approval for a reorganization plan; the certain rationality of choosing corporate reorganization proceedings and limiting the shareholders’ influence; the fact that the petitions were not made for improper or bad-faith purposes; and the absence of any procedural violation under the Companies Act.