Elimination of negative net assets through financial structure improvements
First written in FY2021-Q3. 1 of 3 entries say "Advanced", first in FY2021. Latest entry: FY2022-Q1.
5 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「Negative net assets had been eliminated as of the end of the first-quarter consolidated accounting period.」
The company reported that negative net assets had been eliminated as of the end of the first quarter through the private placement. - FY2021AdvancedAnnual report
「At a meeting of the Board of Directors held on 12 May of this year, the company resolved to conduct a private placement of new shares, allocating Class A shares (bond-type preferred shares) to its parent company, Kintetsu Group Holdings Co.,Ltd., and Class B shares (bond-type preferred shares) to Akario GK and Matsukaze GK, which are funded by the company’s principal transaction banks, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation, respectively, for total proceeds of ¥40 billion. The resolution was approved at the annual general meeting of shareholders held on 16 June of this year. As a result, the company expects to eliminate negative net assets on 30 June, when the private placement becomes effective.」
Regarding the target of eliminating negative net assets, the ¥40 billion private placement was approved at the general meeting of shareholders, and the company moved to specific financial measures aimed at eliminating them on 30 June. - FY2021-Q3First statedAnnual report
「We will conduct a broad review of measures to improve our financial structure and work to eliminate negative net assets.」
Following the emergence of negative net assets, the company stated its goal of improving its financial structure and eliminating negative net assets for the first time.