Minato Holdings reviewed its capital and business alliances with MT, Brain and Daiki Sound and ended the business collaboration after discovering discrepancies between the information provided and actual conditions, as well as breaches of contract. It outlined the departure of dispatched officers and a policy to redeem its MT shares, and is also expected to recognize a loss in the second quarter of the fiscal year ending March 2027.
Minato Holdings, an electronics-related company, terminated the capital and business alliance agreement under which MT, Brain and Daiki Sound had joined its group. It said that multiple events affecting its financial position had occurred and that discrepancies had been discovered between the information it had received and actual conditions. It determined that this had significantly damaged the relationship of trust and ended the business collaboration with MT.
Brain and Daiki Sound will continue their businesses as consolidated subsidiaries, while the directors and audit & supervisory board members dispatched by Minato Holdings will leave their positions. The company plans to proceed with the redemption of its MT preferred shares. Masanobu Kondo (近藤 雅信), who had also served as president, resigned, and the president changed from him to Masahiko Miura (三浦 正彦).
Regarding the impact of this event, the company is reviewing the planned recognition of a loss of the same amount in the second quarter of the fiscal year ending March 2027. The specific impact on future results has not been determined, and details will continue to be monitored.